Pictet Asset Management Holding SA Purchases 1,958,219 Shares of Elastic N.V. $ESTC

Pictet Asset Management Holding SA lifted its holdings in shares of Elastic N.V. (NYSE:ESTC) by 43.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,492,717 shares of the company’s stock after purchasing an additional 1,958,219 shares during the quarter. Pictet Asset Management Holding SA owned 6.27% of Elastic worth $324,550,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Orion Porfolio Solutions LLC boosted its stake in Elastic by 1.4% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock worth $726,000 after purchasing an additional 118 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of 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 purchasing an additional 171 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Elastic by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company’s stock valued at $2,393,000 after purchasing an additional 175 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Elastic by 0.3% in the second quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock valued at $7,033,000 after purchasing an additional 219 shares in the last quarter. Finally, Fieldview Capital Management LLC boosted its position in shares of Elastic by 3.5% during the third quarter. Fieldview Capital Management LLC now owns 10,280 shares of the company’s stock worth $869,000 after buying an additional 345 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CTO Shay Banon sold 9,288 shares of the stock in a transaction 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 sale, the chief technology officer owned 4,417,140 shares in the company, valued at approximately $267,722,855.40. This represents a 0.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Carolyn Herzog sold 9,485 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $574,885.85. Following the sale, the insider directly owned 128,439 shares of the company’s stock, valued at $7,784,687.79. This represents a 6.88% decrease in their position. 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 90 days, insiders sold 110,099 shares of company stock valued at $6,673,100. Insiders own 12.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ESTC shares. Zacks Research cut Elastic from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 28th. The Goldman Sachs Group assumed coverage on shares of Elastic in a research note on Tuesday, April 21st. They set a “neutral” rating and a $50.00 price target for the company. 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 report on Tuesday, May 26th. Morgan Stanley cut their price objective on shares of Elastic from $80.00 to $73.00 and set an “overweight” rating on the stock in a research report on Monday, March 2nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Elastic from $99.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. Eighteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $79.04.

Elastic Stock Up 4.9%

Shares of ESTC stock opened at $56.24 on Friday. Elastic N.V. has a 52-week low of $42.05 and a 52-week high of $96.07. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 14.45 and a beta of 1.00. The firm’s 50-day moving average is $54.96 and its 200-day moving average is $60.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.68 and a current ratio of 1.68.

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. The business had revenue of $450.68 million during the quarter, compared to analysts’ expectations of $446.66 million. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.Elastic’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the company 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 0.23 EPS 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.