ING Groep NV increased its position in Elastic N.V. (NYSE:ESTC – Free Report) by 20.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 444,800 shares of the company’s stock after buying an additional 75,700 shares during the quarter. ING Groep NV’s holdings in Elastic were worth $33,556,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of ESTC. Sound Income Strategies LLC bought a new position in Elastic in the 4th quarter worth $25,000. Geneos Wealth Management Inc. bought a new position in Elastic in the 2nd quarter worth $31,000. Activest Wealth Management boosted its holdings in Elastic by 3,181.3% in the 4th quarter. Activest Wealth Management now owns 525 shares of the company’s stock worth $40,000 after buying an additional 509 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Elastic by 75.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 662 shares of the company’s stock worth $58,000 after buying an additional 285 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in Elastic by 1,347.1% in the 3rd quarter. Larson Financial Group LLC now owns 738 shares of the company’s stock worth $62,000 after buying an additional 687 shares during the period. Institutional investors own 97.03% of the company’s stock.
Insider Activity
In related news, CEO Ashutosh Kulkarni sold 17,756 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 transaction of $928,283.68. Following the completion of the transaction, the chief executive officer directly owned 409,145 shares of the company’s stock, valued at approximately $21,390,100.60. The trade was a 4.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Carolyn Herzog sold 3,989 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 transaction of $208,544.92. Following the transaction, the insider directly owned 85,335 shares of the company’s stock, valued at approximately $4,461,313.80. This represents a 4.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 38,188 shares of company stock worth $1,996,469 in the last 90 days. Company insiders own 12.70% of the company’s stock.
Elastic Stock Performance
Elastic (NYSE:ESTC – Get Free Report) last posted its earnings results on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. Elastic had a net margin of 21.14% and a negative return on equity of 2.02%. The firm had revenue of $450.68 million for the quarter, compared to the consensus estimate of $446.66 million. During the same period in the previous year, the firm posted $0.47 EPS. The business’s quarterly revenue was up 16.0% on a year-over-year basis. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. On average, equities research analysts forecast that Elastic N.V. will post 0.06 EPS for the current fiscal year.
Analyst Ratings Changes
Several brokerages have commented on ESTC. Rosenblatt Securities reiterated a “buy” rating and issued a $110.00 price target on shares of Elastic in a research note on Tuesday, May 26th. JPMorgan Chase & Co. decreased their price target on shares of Elastic from $99.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. Cantor Fitzgerald decreased their price target on shares of Elastic from $66.00 to $59.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 26th. Royal Bank Of Canada decreased their price target on shares of Elastic from $80.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, April 16th. Finally, Piper Sandler decreased their price target on shares of Elastic from $110.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Eighteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $80.04.
Read Our Latest Analysis on ESTC
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.
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