MBL Wealth LLC bought a new position in shares of Elastic N.V. (NYSE:ESTC – Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 5,262 shares of the company’s stock, valued at approximately $483,000.
Several other hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. purchased a new stake in Elastic during the first quarter worth about $25,000. Basecamp Wealth Advisors LLC acquired a new stake in shares of Elastic during the first quarter worth about $28,000. Harbor Investment Advisory LLC purchased a new position in shares of Elastic in the second quarter valued at approximately $42,000. Root Financial Partners LLC boosted its stake in shares of Elastic by 2,976.7% in the first 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 period. Finally, Fortitude Family Office LLC boosted its stake in shares of Elastic by 303.7% in the third quarter. Fortitude Family Office LLC now owns 650 shares of the company’s stock valued at $60,000 after purchasing an additional 489 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.
Insider Buying and Selling at Elastic
In related news, CTO Shay Banon sold 84,207 shares of the stock in a transaction 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 transaction, the chief technology officer 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Jane E. Bone sold 1,542 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $87.78, for a total value of $135,356.76. Following the completion of the sale, the chief accounting officer owned 47,697 shares in the company, valued at approximately $4,186,842.66. This represents a 3.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 4,585,641 shares of company stock worth $422,851,366. 12.70% of the stock is currently owned by company insiders.
Elastic Stock Up 4.5%
ESTC stock opened at $102.61 on Friday. The company’s 50 day moving average price is $90.57 and its 200 day moving average price is $69.40. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.81 and a current ratio of 1.81. Elastic N.V. has a fifty-two week low of $42.05 and a fifty-two week high of $108.00. The firm has a market capitalization of $10.77 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 8.60 and a beta of 1.03.
Elastic (NYSE:ESTC – Get Free Report) last issued its quarterly earnings results on Thursday, August 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.12. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The company had revenue of $478.11 million during the quarter, compared to the consensus estimate of $469.75 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. On average, equities research analysts anticipate that Elastic N.V. will post 0.65 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and set a $125.00 target price on shares of Elastic in a research note on Friday, October 9th. Guggenheim raised their price target on shares of Elastic from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Citigroup raised their price target on shares of Elastic from $104.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Zacks Research raised Elastic from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 28th. Finally, UBS Group increased their price objective on Elastic from $85.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $98.56.
Read Our Latest Analysis on ESTC
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.
Featured Articles
- Five stocks we like better than Elastic
- Bloom Energy Just Reported—Its Biggest Order Is Still Waiting on a Pipeline
- Why Western Digital’s AI Storage Boom Defies the Chip Sell-Off
- Grand Canyon Education Strengthens Its Outlook, But Wall Street Remains Divided
- Amex Stock Slides on Job Cuts, But the Real Story Is Macro
Receive News & Ratings for Elastic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elastic and related companies with MarketBeat.com's FREE daily email newsletter.
