VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Elastic N.V. $ESTC

Key Points

• Virginia Retirement Systems has acquired a new stake in Elastic N.V. during Q2, purchasing 16,465 shares valued at approximately $1.39 million.
• The company's most recent quarterly earnings report showed a revenue increase of 19.5% year-over-year, but a loss per share of ($0.08) which fell short of analysts' expectations.
• Several analysts have recently raised their price targets for Elastic, with Monness Crespi & Hardt increasing it from $111.00 to $150.00, reflecting a positive outlook on the company's future performance.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Elastic N.V. (NYSE:ESTC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,465 shares of the company's stock, valued at approximately $1,388,000.

Other large investors have also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new position in Elastic during the first quarter valued at $25,000. Signaturefd LLC raised its position in Elastic by 53.7% during the first quarter. Signaturefd LLC now owns 335 shares of the company's stock valued at $30,000 after buying an additional 117 shares during the period. North Capital Inc. acquired a new position in Elastic during the first quarter valued at $37,000. Smartleaf Asset Management LLC raised its position in Elastic by 53.7% during the first quarter. Smartleaf Asset Management LLC now owns 435 shares of the company's stock valued at $40,000 after buying an additional 152 shares during the period. Finally, GAMMA Investing LLC raised its position in Elastic by 134.6% during the first quarter. GAMMA Investing LLC now owns 570 shares of the company's stock valued at $51,000 after buying an additional 327 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Ken Exner sold 6,290 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $566,854.80. Following the completion of the transaction, the insider directly owned 233,582 shares of the company's stock, valued at approximately $21,050,409.84. This represents a 2.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $88.12, for a total value of $440,600.00. Following the completion of the transaction, the chief executive officer directly owned 452,314 shares of the company's stock, valued at approximately $39,857,909.68. The trade was a 1.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 352,042 shares of company stock worth $31,087,394. 12.70% of the stock is currently owned by corporate insiders.

Elastic Price Performance

Shares of ESTC stock opened at $86.12 on Thursday. The stock has a 50 day moving average of $84.43 and a two-hundred day moving average of $84.22. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.59. Elastic N.V. has a 12 month low of $70.14 and a 12 month high of $118.84. The company has a market capitalization of $9.15 billion, a P/E ratio of -107.65 and a beta of 1.05.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.50). Elastic had a negative return on equity of 1.68% and a negative net margin of 5.38%.The firm had revenue of $415.29 million during the quarter, compared to the consensus estimate of $397.13 million. During the same quarter in the prior year, the business posted $0.35 EPS. Elastic's revenue was up 19.5% compared to the same quarter last year. Elastic has set its FY 2026 guidance at 2.290-2.350 EPS. Q2 2026 guidance at 0.560-0.580 EPS. As a group, equities analysts expect that Elastic N.V. will post -0.77 EPS for the current year.

Elastic declared that its Board of Directors has initiated a share buyback program on Thursday, October 9th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts recently weighed in on ESTC shares. Monness Crespi & Hardt upped their price target on Elastic from $111.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Zacks Research lowered Elastic from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. Royal Bank Of Canada upped their target price on Elastic from $106.00 to $125.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Jefferies Financial Group upped their target price on Elastic from $110.00 to $125.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Finally, UBS Group upped their target price on Elastic from $95.00 to $125.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $119.00.

Elastic Company Profile

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.

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