Federated Hermes Inc. Buys 99,332 Shares of Elastic N.V. $ESTC

Federated Hermes Inc. raised its stake in shares of Elastic N.V. (NYSE:ESTC) by 11.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 983,732 shares of the company’s stock after buying an additional 99,332 shares during the quarter. Federated Hermes Inc.’s holdings in Elastic were worth $82,958,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ESTC. AQR Capital Management LLC grew its holdings in shares of Elastic by 6,651.3% in the first quarter. AQR Capital Management LLC now owns 1,403,859 shares of the company’s stock worth $122,978,000 after acquiring an additional 1,383,065 shares during the period. Driehaus Capital Management LLC lifted its holdings in Elastic by 1,450.8% in the first quarter. Driehaus Capital Management LLC now owns 880,454 shares of the company’s stock valued at $78,448,000 after acquiring an additional 823,680 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Elastic by 972.9% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 591,015 shares of the company’s stock worth $49,840,000 after purchasing an additional 535,927 shares during the last quarter. Shannon River Fund Management LLC bought a new stake in shares of Elastic during the 1st quarter valued at about $31,981,000. Finally, RGM Capital LLC grew its stake in shares of Elastic by 38.1% during the 1st quarter. RGM Capital LLC now owns 1,197,030 shares of the company’s stock valued at $106,655,000 after purchasing an additional 330,290 shares during the period. 97.03% of the stock is owned by institutional investors.

Insider Transactions at Elastic

In related news, Director Paul R. Auvil III purchased 10,000 shares of Elastic stock in a transaction on Monday, December 1st. The shares were bought at an average cost of $71.02 per share, for a total transaction of $710,200.00. Following the acquisition, the director owned 37,956 shares in the company, valued at approximately $2,695,635.12. The trade was a 35.77% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Shay Banon sold 104,326 shares of the business’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $90.34, for a total transaction of $9,424,810.84. Following the completion of the sale, the chief technology officer owned 4,363,780 shares in the company, valued at approximately $394,223,885.20. The trade was a 2.33% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 152,042 shares of company stock valued at $13,704,394. 12.70% of the stock is owned by corporate insiders.

Elastic Stock Performance

NYSE ESTC opened at $74.76 on Monday. The firm has a market cap of $7.88 billion, a price-to-earnings ratio of -72.58 and a beta of 0.97. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average price of $83.32 and a 200-day moving average price of $84.10. Elastic N.V. has a twelve month low of $68.10 and a twelve month high of $118.84.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, November 20th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.06. Elastic had a negative return on equity of 2.02% and a negative net margin of 6.79%.The company had revenue of $423.48 million for the quarter, compared to the consensus estimate of $418.27 million. During the same quarter last year, the company earned $0.59 EPS. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. As a group, equities research analysts predict that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Elastic declared that its Board of Directors has authorized a share buyback plan on Thursday, October 9th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ESTC shares. Cantor Fitzgerald lowered their price objective on shares of Elastic from $94.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, November 21st. Barclays reduced their target price on shares of Elastic from $125.00 to $107.00 and set an “overweight” rating for the company in a report on Friday, November 21st. Scotiabank dropped their price target on shares of Elastic from $90.00 to $76.00 and set a “sector perform” rating on the stock in a research note on Friday, November 21st. Wedbush reduced their price objective on Elastic from $110.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. Finally, Stifel Nicolaus decreased their target price on Elastic from $134.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Seventeen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Elastic has an average rating of “Moderate Buy” and a consensus price target of $107.25.

About Elastic

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.