BNP Paribas Financial Markets Trims Stock Holdings in Elastic N.V. $ESTC

BNP Paribas Financial Markets trimmed its stake in shares of Elastic N.V. (NYSE:ESTC) by 55.3% during the fourth quarter, HoldingsChannel reports. The fund owned 416,705 shares of the company’s stock after selling 514,527 shares during the quarter. BNP Paribas Financial Markets’ holdings in Elastic were worth $31,436,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. J. Safra Sarasin Holding AG lifted its holdings in Elastic by 43.0% during the 4th quarter. J. Safra Sarasin Holding AG now owns 189,138 shares of the company’s stock worth $14,269,000 after buying an additional 56,892 shares during the last quarter. Cinctive Capital Management LP bought a new position in Elastic during the 3rd quarter worth $13,608,000. Thematics Asset Management grew its stake in Elastic by 10.2% during the 3rd quarter. Thematics Asset Management now owns 523,283 shares of the company’s stock worth $44,212,000 after buying an additional 48,346 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Elastic by 50.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 891,279 shares of the company’s stock worth $75,304,000 after buying an additional 300,264 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in Elastic by 89.0% in the 3rd quarter. Citigroup Inc. now owns 89,357 shares of the company’s stock worth $7,550,000 after buying an additional 42,087 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Elastic Trading Up 2.0%

Shares of NYSE:ESTC opened at $65.36 on Friday. The firm has a fifty day moving average of $51.46 and a two-hundred day moving average of $61.89. The firm has a market capitalization of $6.76 billion, a P/E ratio of 18.67, a price-to-earnings-growth ratio of 50.35 and a beta of 1.00. Elastic N.V. has a 12-month low of $42.05 and a 12-month high of $96.07. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.72.

Elastic (NYSE:ESTC) 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 2.02%. 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. On average, equities analysts expect that Elastic N.V. will post 0.06 EPS for the current fiscal year.

Insider Buying and Selling at Elastic

In other news, CTO Shay Banon sold 4,283 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $52.28, for a total transaction of $223,915.24. Following the transaction, the chief technology officer owned 4,354,945 shares in the company, valued at approximately $227,676,524.60. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Mark Eugene Dodds sold 3,723 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $52.28, for a total transaction of $194,638.44. Following the completion of the transaction, the executive owned 152,563 shares in the company, valued at $7,975,993.64. The trade was a 2.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 38,188 shares of company stock worth $1,996,469 in the last ninety days. Company insiders own 12.70% of the company’s stock.

Analyst Upgrades and Downgrades

ESTC has been the subject of a number of research analyst reports. Stifel Nicolaus set a $65.00 target price on Elastic in a research report on Friday, May 29th. William Blair started coverage on shares of Elastic in a report on Friday, May 22nd. They issued an “outperform” rating for the company. Wedbush lowered their price objective on shares of Elastic from $74.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, May 29th. The Goldman Sachs Group started coverage on shares of Elastic in a research report on Tuesday, April 21st. They set a “neutral” rating and a $50.00 price objective on the stock. Finally, TD Cowen lowered their price objective on shares of Elastic from $65.00 to $60.00 and set a “hold” rating on the stock in a research report on Tuesday, May 26th. Eighteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.04.

Elastic 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.