Elastic N.V. $ESTC Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its position in Elastic N.V. (NYSE:ESTC) by 10.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,213,475 shares of the company’s stock after selling 610,911 shares during the period. Pictet Asset Management Holding SA’s holdings in Elastic were worth $477,973,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ESTC. Bessemer Group Inc. purchased a new position in Elastic during the first quarter valued at $25,000. Signaturefd LLC grew its position in shares of Elastic by 101.6% in the 3rd quarter. Signaturefd LLC now owns 496 shares of the company’s stock worth $45,000 after buying an additional 250 shares during the period. Basecamp Wealth Advisors LLC purchased a new stake in shares of Elastic in the 1st quarter worth about $28,000. Fortitude Family Office LLC increased its stake in shares of Elastic by 303.7% in the 3rd quarter. Fortitude Family Office LLC now owns 650 shares of the company’s stock worth $60,000 after acquiring an additional 489 shares in the last quarter. Finally, Harbor Investment Advisory LLC bought a new position in shares of Elastic in the 2nd quarter worth about $42,000. Institutional investors own 97.03% of the company’s stock.

Elastic Stock Performance

ESTC opened at $85.96 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.81 and a current ratio of 1.81. The stock has a market capitalization of $9.03 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 7.23 and a beta of 0.97. The company has a fifty day moving average of $92.84 and a 200 day moving average of $67.87. Elastic N.V. has a fifty-two week low of $42.05 and a fifty-two week high of $108.00.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, August 27th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.58 by $0.12. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The business had revenue of $478.11 million for the quarter, compared to analysts’ expectations of $469.75 million. During the same quarter in the previous year, the company earned $0.60 EPS. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. As a group, sell-side analysts forecast that Elastic N.V. will post 0.65 earnings per share for the current fiscal year.

Insider Transactions at Elastic

In related news, CRO Mark Dodds sold 10,000 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $92.58, for a total transaction of $925,800.00. Following the completion of the transaction, the executive directly owned 278,538 shares of the company’s stock, valued at approximately $25,787,048.04. This represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven Schuurman sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $94.15, for a total value of $188,300,000.00. Following the transaction, the director owned 2,504,600 shares of the company’s stock, valued at $235,808,090. This represents a 44.40% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 4,585,641 shares of company stock valued at $422,851,366. 12.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ESTC. DA Davidson lifted their target price on shares of Elastic from $60.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, August 26th. Wedbush reiterated an “outperform” rating and issued a $125.00 price target on shares of Elastic in a research note on Friday, October 9th. Zacks Research upgraded Elastic from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 28th. JPMorgan Chase & Co. increased their price target on shares of Elastic from $93.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, August 28th. Finally, Robert W. Baird lifted their price objective on Elastic from $95.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Elastic has an average rating of “Moderate Buy” and a consensus target price of $98.56.

Elastic Company Profile

Elastic N.V. develops software for search, observability and security. Its products help organizations search and analyze data, monitor applications and infrastructure, and detect and respond to cybersecurity threats.

The company’s offerings include the Elastic Stack—built around Elasticsearch and including Kibana, Logstash and Beats—as well as cloud-based services through Elastic Cloud. These tools can be used to work with data from a range of sources and support applications such as enterprise search, log analytics and security monitoring.

Founded in 2012, Elastic grew from the open-source Elasticsearch project, first released in 2010.