Elastic N.V. $ESTC Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in Elastic N.V. (NYSE:ESTC) by 95.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,196 shares of the company’s stock after selling 85,759 shares during the period. Principal Financial Group Inc.’s holdings in Elastic were worth $210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Focus Partners Wealth purchased a new position in shares of Elastic in the 1st quarter valued at about $494,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Elastic by 17.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock worth $98,000 after buying an additional 171 shares in the last quarter. Invesco Ltd. grew its stake in Elastic by 11.7% during the 2nd quarter. Invesco Ltd. now owns 95,332 shares of the company’s stock valued at $8,039,000 after acquiring an additional 9,990 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Elastic by 400.0% in the second quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the company’s stock valued at $178,000 after purchasing an additional 1,688 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in shares of Elastic by 24.7% in the 2nd quarter. Cerity Partners LLC now owns 30,545 shares of the company’s stock worth $2,576,000 after acquiring an additional 6,056 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Stock Performance

Shares of ESTC opened at $65.80 on Friday. The company’s 50 day simple moving average is $60.32 and its 200-day simple moving average is $57.44. The firm has a market cap of $6.84 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 14.89 and a beta of 1.00. Elastic N.V. has a 12-month low of $42.05 and a 12-month high of $96.07. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.45.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.56 by $0.05. The firm had revenue of $450.68 million during the quarter, compared to the consensus estimate of $446.66 million. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. Elastic’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 EPS. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. As a group, equities analysts predict that Elastic N.V. will post 0.26 EPS for the current year.

Insider Buying and Selling

In other news, insider Ken Exner sold 18,449 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $1,118,193.89. Following the completion of the sale, the insider directly owned 360,037 shares of the company’s stock, valued at approximately $21,821,842.57. This represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Carolyn Herzog sold 9,485 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $574,885.85. Following the sale, the insider owned 128,439 shares of the company’s stock, valued at $7,784,687.79. This trade represents a 6.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 110,099 shares of company stock valued at $6,673,100 in the last quarter. Corporate insiders own 12.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wedbush cut their price target on shares of Elastic from $74.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, May 29th. Jefferies Financial Group dropped their target price on Elastic from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, May 29th. Zacks Research raised Elastic from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Oppenheimer cut their target price on shares of Elastic from $85.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, May 29th. Finally, Piper Sandler restated an “overweight” rating on shares of Elastic in a research note on Friday, June 26th. Seventeen investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, Elastic currently has an average rating of “Moderate Buy” and an average price target of $78.78.

Elastic 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.