Elastic N.V. $ESTC Holdings Lessened by Smith Group Asset Management LLC

Smith Group Asset Management LLC decreased its holdings in Elastic N.V. (NYSE:ESTC) by 85.8% in the third quarter, Holdings Channel reports. The fund owned 4,755 shares of the company’s stock after selling 28,750 shares during the quarter. Smith Group Asset Management LLC’s holdings in Elastic were worth $436,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. purchased a new position in Elastic in the first quarter worth about $25,000. Basecamp Wealth Advisors LLC purchased a new stake in Elastic during the first quarter valued at approximately $28,000. Harbor Investment Advisory LLC purchased a new stake in Elastic during the second quarter valued at approximately $42,000. Signaturefd LLC raised its position in Elastic by 101.6% during the third quarter. Signaturefd LLC now owns 496 shares of the company’s stock valued at $45,000 after purchasing an additional 250 shares during the period. Finally, Root Financial Partners LLC lifted its stake in shares of Elastic by 2,976.7% in the 1st quarter. Root Financial Partners LLC now owns 923 shares of the company’s stock valued at $46,000 after purchasing an additional 893 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Insider Transactions at Elastic

In related news, CRO Mark Dodds sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $92.58, for a total transaction of $925,800.00. Following the completion of the sale, the executive directly owned 278,538 shares of the company’s stock, valued at approximately $25,787,048.04. This trade represents a 3.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Shay Banon sold 84,207 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $84.64, for a total value of $7,127,280.48. Following the sale, the chief technology officer directly owned 3,910,563 shares of the company’s stock, valued at $330,990,052.32. This represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 4,585,641 shares of company stock valued at $422,851,366. Company insiders own 12.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ESTC shares. Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a report on Friday, October 9th. Jefferies Financial Group boosted their target price on Elastic from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 28th. TD Cowen increased their price target on Elastic from $55.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, August 25th. Royal Bank Of Canada raised their price target on Elastic from $70.00 to $87.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Finally, Morgan Stanley raised their price target on Elastic from $66.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.56.

Elastic Stock Performance

Shares of NYSE:ESTC opened at $103.35 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.44. Elastic N.V. has a 12 month low of $42.05 and a 12 month high of $108.00. The company has a market capitalization of $10.85 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 8.95 and a beta of 1.03. The firm’s 50-day moving average is $92.03 and its 200 day moving average is $67.37.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, August 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.12. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The business had revenue of $478.11 million during the quarter, compared to the consensus estimate of $469.75 million. During the same quarter last year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. Research analysts predict that Elastic N.V. will post 0.65 EPS for the current year.

Elastic Profile

Elastic N.V. develops search-powered software and services for organizations worldwide. Its technology helps businesses search, analyze and act on structured and unstructured data across applications, websites, infrastructure and security environments. Elastic offers its products through cloud-based and self-managed deployment options.

The company’s core platform, the Elastic Search AI Platform, is built around Elasticsearch and Kibana. Its offerings include Elastic Cloud, a managed cloud service, as well as solutions for enterprise search, observability and security.