Elastic N.V. $ESTC Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its stake in Elastic N.V. (NYSE:ESTC) by 22.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 158,414 shares of the company’s stock after selling 46,604 shares during the quarter. Hsbc Holdings PLC owned about 0.15% of Elastic worth $12,001,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Redwood Family Wealth LLC purchased a new stake in shares of Elastic in the 4th quarter valued at approximately $248,000. Pacer Advisors Inc. raised its position in Elastic by 80.9% in the fourth quarter. Pacer Advisors Inc. now owns 10,539 shares of the company’s stock valued at $795,000 after purchasing an additional 4,714 shares during the period. Kera Capital Partners Inc. lifted its stake in Elastic by 129.8% during the fourth quarter. Kera Capital Partners Inc. now owns 10,482 shares of the company’s stock worth $791,000 after purchasing an additional 5,920 shares in the last quarter. Invesco Ltd. boosted its position in shares of Elastic by 17.6% during the fourth quarter. Invesco Ltd. now owns 128,844 shares of the company’s stock worth $9,720,000 after buying an additional 19,304 shares during the period. Finally, Corient Private Wealth LLC boosted its position in shares of Elastic by 805.7% during the fourth quarter. Corient Private Wealth LLC now owns 36,420 shares of the company’s stock worth $2,748,000 after buying an additional 32,399 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Insider Transactions at Elastic

In other news, insider Carolyn Herzog sold 9,485 shares of the firm’s stock in a transaction that occurred 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 directly owned 128,439 shares in the company, valued at approximately $7,784,687.79. This trade represents a 6.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Jane E. Bone sold 1,104 shares of Elastic stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $66,913.44. Following the completion of the transaction, the chief accounting officer directly owned 53,415 shares in the company, valued at $3,237,483.15. The trade was a 2.02% decrease in their ownership of the stock. 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. Over the last quarter, insiders sold 110,099 shares of company stock worth $6,673,100. Insiders own 12.70% of the company’s stock.

Elastic Stock Performance

Shares of Elastic stock opened at $53.53 on Friday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.45. Elastic N.V. has a 52 week low of $42.05 and a 52 week high of $96.07. The firm’s 50 day moving average is $54.79 and its two-hundred day moving average is $60.21. The firm has a market capitalization of $5.56 billion, a P/E ratio of 15.29, a P/E/G ratio of 15.09 and a beta of 1.00.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.05. The business had revenue of $450.68 million during the quarter, compared to analysts’ expectations of $446.66 million. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $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. Research analysts forecast that Elastic N.V. will post 0.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ESTC. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $59.00 target price on shares of Elastic in a research report on Thursday. JPMorgan Chase & Co. cut their target price 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. Barclays reduced their price target on Elastic from $76.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. Wall Street Zen cut shares of Elastic from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Scotiabank lowered their price target on shares of Elastic from $61.00 to $58.00 and set a “sector perform” rating for the company in a report on Friday, May 29th. Eighteen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Elastic presently has an average rating of “Moderate Buy” and a consensus target price of $80.04.

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.