Baird Financial Group Inc. Has $3.38 Million Stock Holdings in Elastic N.V. $ESTC

Baird Financial Group Inc. decreased its position in Elastic N.V. (NYSE:ESTC) by 72.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 40,080 shares of the company’s stock after selling 102,929 shares during the quarter. Baird Financial Group Inc.’s holdings in Elastic were worth $3,380,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its position in Elastic by 53.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock valued at $40,000 after purchasing an additional 152 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake 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 during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Elastic by 5.1% in the second quarter. Janney Montgomery Scott LLC now owns 3,997 shares of the company’s stock valued at $337,000 after buying an additional 194 shares during the period. Bangor Savings Bank boosted its stake in Elastic by 1.2% in the second quarter. Bangor Savings Bank now owns 16,739 shares of the company’s stock valued at $1,412,000 after acquiring an additional 205 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in Elastic by 3.2% during the 2nd quarter. Los Angeles Capital Management LLC now owns 7,321 shares of the company’s stock worth $617,000 after acquiring an additional 226 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Jane E. Bone sold 2,408 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total value of $180,720.40. Following the completion of the transaction, the chief accounting officer directly owned 44,358 shares of the company’s stock, valued at approximately $3,329,067.90. This represents a 5.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ken Exner sold 6,544 shares of Elastic stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total value of $491,127.20. Following the completion of the sale, the insider directly owned 227,038 shares in the company, valued at $17,039,201.90. This represents a 2.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 62,101 shares of company stock worth $4,750,602 in the last ninety days. 12.70% of the stock is owned by insiders.

Elastic Price Performance

Shares of ESTC opened at $78.83 on Thursday. The stock has a 50 day simple moving average of $82.74 and a 200 day simple moving average of $83.82. Elastic N.V. has a 52-week low of $68.10 and a 52-week high of $118.84. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.97 and a current ratio of 1.97. The firm has a market capitalization of $8.31 billion, a PE ratio of -76.54 and a beta of 0.97.

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

Elastic announced that its board has approved a stock buyback plan on Thursday, October 9th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

ESTC has been the topic of a number of analyst reports. Oppenheimer reissued an “outperform” rating on shares of Elastic in a research note on Friday, August 29th. Morgan Stanley cut their target price on Elastic from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, November 21st. JPMorgan Chase & Co. decreased their target price on Elastic from $120.00 to $113.00 and set an “overweight” rating for the company in a research report on Friday, November 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price target on shares of Elastic in a research report on Wednesday, November 19th. Finally, Guggenheim decreased their price objective on shares of Elastic from $122.00 to $116.00 and set a “buy” rating for the company in a report on Friday, November 21st. Seventeen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Elastic currently has an average rating of “Moderate Buy” and an average 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.