Kettle Hill Capital Management LLC acquired a new position in Elastic N.V. (NYSE:ESTC – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 393,556 shares of the company’s stock, valued at approximately $29,690,000. Elastic accounts for 6.6% of Kettle Hill Capital Management LLC’s investment portfolio, making the stock its largest position. Kettle Hill Capital Management LLC owned about 0.37% of Elastic at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new position in Elastic in the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. acquired a new position in Elastic in the 2nd quarter worth approximately $31,000. Activest Wealth Management boosted its stake 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 purchasing an additional 509 shares during the period. Quarry LP boosted its stake in Elastic by 16,200.0% in the 4th quarter. Quarry LP now owns 652 shares of the company’s stock worth $49,000 after purchasing an additional 648 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in Elastic in the 4th quarter worth approximately $49,000. Institutional investors and hedge funds own 97.03% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have issued reports on ESTC. Scotiabank cut their target price on shares of Elastic from $61.00 to $58.00 and set a “sector perform” rating for the company in a research report on Friday, May 29th. Wall Street Zen downgraded shares of Elastic from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays cut their target price on shares of Elastic from $76.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Truist Financial cut their target price on shares of Elastic from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Finally, JPMorgan Chase & Co. cut their target price on shares of Elastic from $99.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, May 27th. Eighteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $80.04.
Insider Buying and Selling at Elastic
In other news, CRO Mark Eugene Dodds sold 18,439 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $1,117,587.79. Following the transaction, the executive owned 298,211 shares in the company, valued at approximately $18,074,568.71. This trade represents a 5.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $574,885.85. Following the transaction, the insider owned 128,439 shares in the company, valued at $7,784,687.79. This represents a 6.88% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 110,099 shares of company stock worth $6,673,100 in the last ninety days. Company insiders own 12.70% of the company’s stock.
Elastic Stock Up 2.9%
Elastic stock opened at $62.13 on Tuesday. The company has a market capitalization of $6.46 billion, a P/E ratio of 17.75, a P/E/G ratio of 19.95 and a beta of 1.00. The firm’s fifty day simple moving average is $53.03 and its 200-day simple moving average is $60.99. 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 N.V. has a 1-year low of $42.05 and a 1-year high of $96.07.
Elastic (NYSE:ESTC – Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. The business had revenue of $450.68 million for 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 last 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. Sell-side analysts forecast that Elastic N.V. will post 0.18 earnings per share for the current fiscal year.
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.
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