Elastic N.V. $ESTC Shares Sold by Sylebra Capital LLC

Sylebra Capital LLC lessened its position in Elastic N.V. (NYSE:ESTC) by 12.8% in the first quarter, HoldingsChannel.com reports. The fund owned 1,409,793 shares of the company’s stock after selling 206,175 shares during the period. Elastic comprises about 9.1% of Sylebra Capital LLC’s portfolio, making the stock its 5th biggest holding. Sylebra Capital LLC’s holdings in Elastic were worth $70,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Orion Porfolio Solutions LLC raised its holdings in shares of Elastic by 1.4% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock valued at $726,000 after purchasing an additional 118 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in 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 last quarter. Public Employees Retirement System of Ohio grew its holdings in Elastic by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company’s stock worth $2,393,000 after purchasing an additional 175 shares during the period. California State Teachers Retirement System grew its holdings in Elastic by 0.3% during the second quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock worth $7,033,000 after purchasing an additional 219 shares during the period. Finally, Fred Alger Management LLC increased its position in Elastic by 11.6% during the third quarter. Fred Alger Management LLC now owns 3,347 shares of the company’s stock worth $283,000 after buying an additional 347 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Trading Up 1.3%

Shares of NYSE:ESTC opened at $62.04 on Wednesday. Elastic N.V. has a 12-month low of $42.05 and a 12-month high of $96.07. The stock has a market cap of $6.45 billion, a PE ratio of 17.73, a P/E/G ratio of 13.86 and a beta of 1.00. The business has a 50 day moving average of $59.70 and a 200-day moving average of $57.58. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.45.

Elastic (NYSE:ESTC) last posted its 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 company had revenue of $450.68 million for the quarter, compared to the consensus estimate of $446.66 million. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $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. As a group, equities research analysts forecast that Elastic N.V. will post 0.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on ESTC. JPMorgan Chase & Co. dropped their price objective on Elastic from $99.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. Citigroup lifted their target price on Elastic from $95.00 to $104.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Wedbush dropped their price target on Elastic from $74.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, May 29th. Rothschild & Co Redburn initiated coverage on Elastic in a report on Thursday, April 23rd. They set a “neutral” rating and a $49.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $59.00 price objective on shares of Elastic in a research report on Thursday, June 25th. Seventeen investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $78.78.

Insiders Place Their Bets

In other Elastic news, CRO Mark Eugene Dodds sold 18,439 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $1,117,587.79. Following the transaction, the executive directly owned 298,211 shares of the company’s stock, valued at $18,074,568.71. This represents a 5.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 transaction, the chief technology officer owned 4,417,140 shares in the company, valued at $267,722,855.40. The trade was a 0.21% 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. Insiders sold a total of 110,099 shares of company stock worth $6,673,100 over the last three months. 12.70% of the stock is currently owned by corporate 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.