Alight Capital Management LP Lowers Holdings in Elastic N.V. $ESTC

Alight Capital Management LP reduced its stake in shares of Elastic N.V. (NYSE:ESTC) by 53.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 56,000 shares of the company’s stock after selling 64,000 shares during the quarter. Alight Capital Management LP’s holdings in Elastic were worth $4,225,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. J. Safra Sarasin Holding AG lifted its holdings in shares of 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 acquiring an additional 56,892 shares during the last quarter. Cinctive Capital Management LP bought a new stake in shares of Elastic during the 3rd quarter worth $13,608,000. Thematics Asset Management lifted its holdings in shares of 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 acquiring an additional 48,346 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Elastic by 50.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 891,279 shares of the company’s stock worth $75,304,000 after acquiring an additional 300,264 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of Elastic by 89.0% during the 3rd quarter. Citigroup Inc. now owns 89,357 shares of the company’s stock worth $7,550,000 after acquiring an additional 42,087 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

Insider Activity

In other news, CRO Mark Eugene Dodds sold 18,439 shares of Elastic stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $1,117,587.79. Following 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 position. The sale was disclosed in a document filed with the SEC, 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 Elastic stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $66,913.44. Following the sale, 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 position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 110,099 shares of company stock worth $6,673,100. 12.70% of the stock is owned by company insiders.

Elastic Price Performance

ESTC stock opened at $58.50 on Thursday. The firm’s 50-day moving average price is $53.38 and its two-hundred day moving average price is $60.84. Elastic N.V. has a 12-month low of $42.05 and a 12-month high of $96.07. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 19.87 and a beta of 1.00. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.45.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The firm had revenue of $450.68 million for the quarter, compared to analysts’ expectations of $446.66 million. During the same quarter in the previous year, the company earned $0.47 earnings per share. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. As a group, equities analysts predict that Elastic N.V. will post 0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ESTC shares. Rosenblatt Securities reiterated a “buy” rating and issued a $110.00 target price on shares of Elastic in a research report on Tuesday, May 26th. Stifel Nicolaus set a $65.00 target price on shares of Elastic in a research report on Friday, May 29th. DA Davidson decreased their target price on shares of Elastic from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, May 29th. Wolfe Research set a $55.00 target price on shares of Elastic in a research report on Friday, May 29th. Finally, Oppenheimer decreased their target price on shares of Elastic from $85.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, May 29th. Eighteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Elastic has an average rating of “Moderate Buy” and a consensus price target 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.