Sei Investments Co. Lowers Stake in Elastic N.V. $ESTC

Sei Investments Co. cut its position in shares of Elastic N.V. (NYSE:ESTC) by 56.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,935 shares of the company’s stock after selling 31,333 shares during the quarter. Sei Investments Co.’s holdings in Elastic were worth $1,197,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Sound Income Strategies LLC purchased a new position in shares of Elastic during the fourth quarter valued at approximately $25,000. Bessemer Group Inc. purchased a new stake in Elastic in the 1st quarter worth approximately $25,000. Geneos Wealth Management Inc. purchased a new stake in Elastic in the 2nd quarter worth approximately $31,000. Activest Wealth Management grew its position in shares of Elastic by 3,181.2% in the fourth quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after purchasing an additional 509 shares during the period. Finally, Aster Capital Management DIFC Ltd grew its position in shares of Elastic by 206.1% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock valued at $42,000 after purchasing an additional 371 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insider Buying and Selling at Elastic

In related news, CFO Navam Welihinda sold 12,961 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 $785,566.21. Following the transaction, the chief financial officer owned 209,254 shares in the company, valued at approximately $12,682,884.94. The trade was a 5.83% decrease in their position. The transaction 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, insider Ken Exner sold 18,449 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $1,118,193.89. Following the completion of the sale, the insider owned 360,037 shares of the company’s stock, valued at approximately $21,821,842.57. This represents a 4.87% decrease in their ownership of the stock. 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. Corporate insiders own 12.70% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ESTC. Canaccord Genuity Group reduced their target price on Elastic from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, May 29th. Scotiabank dropped their price objective on shares of Elastic from $61.00 to $58.00 and set a “sector perform” rating for the company in a research note on Friday, May 29th. UBS Group reiterated a “buy” rating and set a $85.00 price objective on shares of Elastic in a report on Friday, May 29th. Zacks Research upgraded shares of Elastic from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Finally, Jefferies Financial Group dropped their price target on shares of Elastic from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, May 29th. Seventeen research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.78.

Elastic Stock Up 0.1%

Shares of NYSE:ESTC opened at $76.42 on Wednesday. The stock has a 50-day simple moving average of $62.06 and a 200-day simple moving average of $57.34. The stock has a market capitalization of $7.94 billion, a P/E ratio of 21.84, a PEG ratio of 17.28 and a beta of 0.98. 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.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.56 by $0.05. The firm had revenue of $450.68 million for the quarter, compared to analyst estimates of $446.66 million. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. Elastic’s revenue for the quarter was up 16.0% compared to the same quarter last year. 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. Equities analysts forecast 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.