Nordea Investment Management AB Sells 12,278 Shares of Elastic N.V. $ESTC

Nordea Investment Management AB lowered its position in Elastic N.V. (NYSE:ESTC) by 13.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 80,289 shares of the company’s stock after selling 12,278 shares during the quarter. Nordea Investment Management AB’s holdings in Elastic were worth $6,093,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Allworth Financial LP boosted its stake in Elastic by 127.6% in the third quarter. Allworth Financial LP now owns 1,561 shares of the company’s stock valued at $132,000 after acquiring an additional 875 shares in the last quarter. Swiss Life Asset Management Ltd purchased a new position in Elastic in the third quarter worth $348,000. Strategic Advocates LLC acquired a new position in shares of Elastic during the third quarter worth $134,000. CIBC Bancorp USA Inc. purchased a new stake in shares of Elastic during the 3rd quarter valued at $3,218,000. Finally, Achmea Investment Management B.V. lifted its holdings in shares of Elastic by 3.1% during the 3rd quarter. Achmea Investment Management B.V. now owns 170,200 shares of the company’s stock valued at $14,380,000 after purchasing an additional 5,146 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Elastic Stock Performance

Shares of ESTC stock opened at $51.27 on Friday. The business has a fifty day moving average of $59.58 and a 200 day moving average of $74.12. Elastic N.V. has a 1 year low of $48.71 and a 1 year high of $98.25. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.82 and a quick ratio of 1.82. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of -64.09, a price-to-earnings-growth ratio of 64.16 and a beta of 0.98.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.09. The business had revenue of $449.88 million for the quarter, compared to the consensus estimate of $438.37 million. Elastic had a negative return on equity of 2.34% and a negative net margin of 5.04%.The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 EPS. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. As a group, research analysts expect that Elastic N.V. will post -0.77 earnings per share for the current year.

Insider Activity

In related news, insider Ken Exner sold 4,310 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $52.28, for a total value of $225,326.80. Following the sale, the insider owned 222,728 shares in the company, valued at $11,644,219.84. This represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jane E. Bone sold 887 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $52.28, for a total transaction of $46,372.36. Following the completion of the transaction, the chief accounting officer owned 42,284 shares in the company, valued at approximately $2,210,607.52. This trade represents a 2.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 39,375 shares of company stock valued at $2,091,797. 12.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Royal Bank Of Canada lowered their price objective on Elastic from $115.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. Morgan Stanley decreased their price target on Elastic from $80.00 to $73.00 and set an “overweight” rating for the company in a research note on Monday, March 2nd. Barclays dropped their price target on Elastic from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Wells Fargo & Company decreased their price objective on shares of Elastic from $75.00 to $60.00 and set an “equal weight” rating for the company in a research report on Friday, February 27th. Finally, Truist Financial lowered their target price on shares of Elastic from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Seventeen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Elastic has a consensus rating of “Moderate Buy” and a consensus price target of $95.25.

About Elastic

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.