Bank of Nova Scotia Acquires 331,625 Shares of Elastic N.V. $ESTC

Bank of Nova Scotia boosted its stake in shares of Elastic N.V. (NYSE:ESTC) by 78.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 752,434 shares of the company’s stock after buying an additional 331,625 shares during the period. Bank of Nova Scotia’s holdings in Elastic were worth $37,614,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ESTC. Orion Porfolio Solutions LLC boosted its holdings in shares of Elastic by 1.4% in the third quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock valued at $726,000 after buying an additional 118 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Elastic by 17.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock valued at $98,000 after acquiring an additional 171 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Elastic by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company’s stock valued at $2,393,000 after acquiring an additional 175 shares in the last quarter. California State Teachers Retirement System boosted its stake in Elastic by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock worth $7,033,000 after purchasing an additional 219 shares during the period. Finally, Fred Alger Management LLC boosted its stake in Elastic by 11.6% in the 3rd quarter. Fred Alger Management LLC now owns 3,347 shares of the company’s stock worth $283,000 after purchasing an additional 347 shares during the period. Institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Stifel Nicolaus set a $65.00 price target on Elastic in a research note on Friday, May 29th. DA Davidson reduced their price objective on Elastic from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, May 29th. Zacks Research upgraded Elastic from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Cantor Fitzgerald reissued a “neutral” rating and issued a $59.00 target price on shares of Elastic in a research report on Thursday, June 25th. Finally, Piper Sandler restated an “overweight” rating on shares of Elastic in a research note on Friday, June 26th. Seventeen equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.78.

Insider Buying and Selling

In other news, insider Carolyn Herzog sold 9,485 shares of Elastic stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $574,885.85. Following the completion of the transaction, the insider directly owned 128,439 shares in the company, valued at approximately $7,784,687.79. The trade was a 6.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Shay Banon sold 9,288 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $562,945.68. Following the transaction, the chief technology officer directly owned 4,417,140 shares in the company, valued at $267,722,855.40. The trade was a 0.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 110,099 shares of company stock valued at $6,673,100. Insiders own 12.70% of the company’s stock.

Elastic Stock Up 2.3%

Elastic stock opened at $58.64 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.68 and a quick ratio of 1.68. The company’s 50-day moving average is $59.40 and its 200-day moving average is $57.90. The firm has a market capitalization of $6.10 billion, a PE ratio of 16.75, a P/E/G ratio of 12.98 and a beta of 1.00. Elastic N.V. has a fifty-two week low of $42.05 and a fifty-two week high of $96.07.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The business had revenue of $450.68 million during the quarter, compared to analysts’ expectations of $446.66 million. During the same quarter last year, the company posted $0.47 earnings per share. Elastic’s quarterly revenue was up 16.0% on a year-over-year basis. 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 anticipate that Elastic N.V. will post 0.26 earnings per share for the current year.

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.