Geode Capital Management LLC Buys 49,198 Shares of Elastic N.V. $ESTC

Geode Capital Management LLC increased its stake in Elastic N.V. (NYSE:ESTC) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,724,508 shares of the company’s stock after buying an additional 49,198 shares during the quarter. Geode Capital Management LLC’s holdings in Elastic were worth $130,124,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sound Income Strategies LLC bought a new stake in Elastic in the fourth quarter worth $25,000. Geneos Wealth Management Inc. bought a new stake in Elastic in the second quarter worth $31,000. Activest Wealth Management increased its stake in Elastic by 3,181.3% in the fourth quarter. Activest Wealth Management now owns 525 shares of the company’s stock worth $40,000 after purchasing an additional 509 shares during the period. Smartleaf Asset Management LLC increased its stake in Elastic by 75.6% in the third quarter. Smartleaf Asset Management LLC now owns 662 shares of the company’s stock worth $58,000 after purchasing an additional 285 shares during the period. Finally, Larson Financial Group LLC increased its stake in Elastic by 1,347.1% in the third quarter. Larson Financial Group LLC now owns 738 shares of the company’s stock worth $62,000 after purchasing an additional 687 shares during the period. 97.03% of the stock is currently owned by institutional investors.

Elastic Price Performance

ESTC opened at $65.36 on Friday. The business’s 50-day moving average is $51.46 and its two-hundred day moving average is $61.89. Elastic N.V. has a 1 year low of $42.05 and a 1 year high of $96.07. 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 $6.76 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 50.35 and a beta of 1.00.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.05. Elastic had a negative return on equity of 2.02% and a net margin of 21.14%.The company had revenue of $450.68 million for the quarter, compared to analyst estimates of $446.66 million. During the same quarter in the previous year, the firm earned $0.47 earnings per share. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. Research analysts anticipate that Elastic N.V. will post 0.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ESTC shares. Morgan Stanley reduced their target price on Elastic from $80.00 to $73.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. JPMorgan Chase & Co. reduced their target price on Elastic from $99.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $110.00 target price on shares of Elastic in a research note on Tuesday, May 26th. DA Davidson reduced their target price on Elastic from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, May 29th. Finally, UBS Group reiterated a “buy” rating and issued a $85.00 target price on shares of Elastic in a research note on Friday, May 29th. Eighteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.04.

Insider Buying and Selling

In other Elastic news, CRO Mark Eugene Dodds sold 3,723 shares of Elastic stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $52.28, for a total value of $194,638.44. Following the transaction, the executive owned 152,563 shares in the company, valued at $7,975,993.64. The trade was a 2.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Carolyn Herzog sold 3,989 shares of Elastic stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $52.28, for a total value of $208,544.92. Following the completion of the transaction, the insider owned 85,335 shares in the company, valued at $4,461,313.80. This trade represents a 4.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 38,188 shares of company stock valued at $1,996,469 over the last three months. Corporate insiders own 12.70% of the company’s stock.

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.