ING Groep NV Buys 75,700 Shares of Elastic N.V. $ESTC

ING Groep NV boosted its stake in shares of Elastic N.V. (NYSE:ESTC) by 20.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 444,800 shares of the company’s stock after buying an additional 75,700 shares during the period. ING Groep NV owned approximately 0.42% of Elastic worth $33,556,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ESTC. Sound Income Strategies LLC bought a new position in Elastic during the 4th quarter valued at approximately $25,000. Geneos Wealth Management Inc. bought a new position in Elastic during the 2nd quarter valued at approximately $31,000. Activest Wealth Management increased its position in Elastic by 3,181.3% during the 4th quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after buying an additional 509 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Elastic by 75.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 662 shares of the company’s stock valued at $58,000 after buying an additional 285 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in Elastic by 1,347.1% during the 3rd quarter. Larson Financial Group LLC now owns 738 shares of the company’s stock valued at $62,000 after buying an additional 687 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on Elastic in a research report on Tuesday, April 21st. They set a “neutral” rating and a $50.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on shares of Elastic from $99.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, May 27th. Wedbush lowered their price objective on Elastic from $74.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, May 29th. Royal Bank Of Canada cut their target price on Elastic from $80.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, April 16th. Finally, Truist Financial cut their target price on Elastic from $105.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Eighteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $80.04.

Elastic Trading Down 4.8%

NYSE:ESTC opened at $61.97 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.82 and a quick ratio of 1.82. The firm has a market capitalization of $6.41 billion, a price-to-earnings ratio of 17.71, a price-to-earnings-growth ratio of 48.53 and a beta of 1.00. Elastic N.V. has a one year low of $42.05 and a one year high of $96.07. The business has a fifty day moving average price of $51.69 and a 200-day moving average price of $61.89.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.56 by $0.05. The firm had revenue of $450.68 million during the quarter, compared to analyst estimates of $446.66 million. Elastic had a negative return on equity of 2.02% and a net margin of 21.14%.Elastic’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 EPS. 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 forecast that Elastic N.V. will post 0.06 EPS for the current year.

Insider Transactions at Elastic

In other news, CAO Jane E. Bone sold 887 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $52.28, for a total value of $46,372.36. Following the completion of the sale, the chief accounting officer directly owned 42,284 shares in the company, valued at $2,210,607.52. This represents a 2.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Shay Banon sold 4,283 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $52.28, for a total value of $223,915.24. Following the completion of the sale, the chief technology officer owned 4,354,945 shares of the company’s stock, valued at $227,676,524.60. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 38,188 shares of company stock worth $1,996,469 over the last three months. 12.70% of the stock is currently owned by insiders.

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.