Elastic N.V. $ESTC Shares Sold by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. reduced its stake in shares of Elastic N.V. (NYSE:ESTC) by 36.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 17,527 shares of the company’s stock after selling 10,056 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Elastic were worth $1,481,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geneos Wealth Management Inc. acquired a new position in Elastic during the second quarter worth $31,000. Huntington National Bank raised its stake in shares of Elastic by 97.5% during the 2nd quarter. Huntington National Bank now owns 468 shares of the company’s stock worth $39,000 after buying an additional 231 shares during the last quarter. Plato Investment Management Ltd purchased a new stake in shares of Elastic in the 2nd quarter worth about $40,000. Promus Capital LLC acquired a new stake in Elastic in the 2nd quarter valued at about $45,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new position in Elastic during the 2nd quarter valued at about $60,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Paul R. Auvil III purchased 10,000 shares of the stock in a transaction on Monday, December 1st. The stock was purchased at an average price of $71.02 per share, with a total value of $710,200.00. Following the completion of the transaction, the director owned 37,956 shares in the company, valued at approximately $2,695,635.12. The trade was a 35.77% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Mark Eugene Dodds sold 5,800 shares of the company’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $74.60, for a total value of $432,680.00. Following the sale, the executive owned 161,484 shares of the company’s stock, valued at $12,046,706.40. This represents a 3.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 61,891 shares of company stock worth $4,654,707. Corporate insiders own 12.70% of the company’s stock.

Wall Street Analysts Forecast Growth

ESTC has been the subject of several research reports. Piper Sandler cut their price objective on Elastic from $125.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, November 21st. Jefferies Financial Group cut their price target on Elastic from $105.00 to $95.00 and set a “buy” rating for the company in a report on Monday. Truist Financial decreased their price objective on Elastic from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, November 19th. Monness Crespi & Hardt cut Elastic from a “buy” rating to a “neutral” rating in a research report on Friday, November 21st. Finally, Barclays reduced their target price on shares of Elastic from $125.00 to $107.00 and set an “overweight” rating on the stock in a report on Friday, November 21st. Seventeen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $106.00.

Elastic Trading Up 2.0%

NYSE ESTC opened at $77.14 on Thursday. The company has a market cap of $8.13 billion, a P/E ratio of -74.89, a P/E/G ratio of 299.88 and a beta of 0.92. Elastic N.V. has a 12 month low of $68.10 and a 12 month high of $118.84. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.97 and a quick ratio of 1.97. The company has a 50-day moving average of $79.32 and a 200-day moving average of $82.54.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, November 20th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.06. The firm had revenue of $423.48 million during the quarter, compared to the consensus estimate of $418.27 million. Elastic had a negative net margin of 6.79% and a negative return on equity of 2.02%. Elastic’s revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 earnings per share. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. As a group, equities analysts predict that Elastic N.V. will post -0.77 earnings per share for the current year.

Elastic announced that its board has initiated a stock repurchase program on Thursday, October 9th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Elastic Company Profile

Elastic N.V. operates as a search and analytics company, offering a suite of open source and subscription-based solutions for search, observability and security use cases. Its flagship product, Elasticsearch, enables fast and scalable full-text search and analytics across large volumes of structured and unstructured data. Complementary tools such as Kibana provide visualization capabilities, while Beats and Logstash serve as lightweight data shippers and data processing pipelines, respectively.

The company was founded in 2012 by Shay Banon, who serves as chief technology officer, and Steven Schuurman.