California Public Employees Retirement System Trims Stock Holdings in Elastic N.V. $ESTC

California Public Employees Retirement System lowered its stake in shares of Elastic N.V. (NYSE:ESTC) by 22.3% during the first quarter, Holdings Channel reports. The fund owned 128,736 shares of the company’s stock after selling 36,860 shares during the quarter. California Public Employees Retirement System’s holdings in Elastic were worth $6,436,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ESTC. AQR Capital Management LLC lifted its holdings in Elastic by 153.4% in the 4th quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock valued at $569,201,000 after purchasing an additional 4,567,720 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Elastic by 43.2% in the first quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company’s stock valued at $324,550,000 after buying an additional 1,958,219 shares during the last quarter. FIL Ltd raised its position in shares of Elastic by 36.9% in the fourth quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock valued at $273,753,000 after buying an additional 977,578 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Elastic by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 1,724,508 shares of the company’s stock valued at $130,124,000 after buying an additional 49,198 shares during the period. Finally, RGM Capital LLC lifted its stake in shares of Elastic by 2.4% during the fourth quarter. RGM Capital LLC now owns 1,710,069 shares of the company’s stock valued at $129,008,000 after buying an additional 40,371 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ESTC. Citigroup raised their target price on shares of Elastic from $95.00 to $104.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. DA Davidson reduced their price target on Elastic from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, May 29th. Weiss Ratings upgraded Elastic from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 15th. TD Cowen lowered their price objective on Elastic from $65.00 to $60.00 and set a “hold” rating for the company in a research report on Tuesday, May 26th. Finally, Jefferies Financial Group lowered their price objective on Elastic from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, May 29th. Seventeen equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $78.78.

Insider Buying and Selling at Elastic

In other Elastic news, CRO Mark Eugene Dodds sold 18,439 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $1,117,587.79. Following the completion of the sale, the executive owned 298,211 shares of the company’s stock, valued at approximately $18,074,568.71. The trade was a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $66,913.44. Following the sale, the chief accounting officer owned 53,415 shares of the company’s stock, valued at $3,237,483.15. This represents 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. 12.70% of the stock is currently owned by company insiders.

Elastic Price Performance

Elastic stock opened at $58.64 on Monday. Elastic N.V. has a 1 year low of $42.05 and a 1 year high of $96.07. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a 50 day moving average price of $59.40 and a 200 day moving average price of $57.79. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 13.28 and a beta of 1.00.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. The company 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 1.82%. Elastic’s revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 earnings per share. 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 predict that Elastic N.V. will post 0.26 earnings per share for the current year.

About Elastic

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.