Hsbc Holdings PLC Lowers Stock Holdings in Elastic N.V. $ESTC

Hsbc Holdings PLC lessened its stake in Elastic N.V. (NYSE:ESTC) by 22.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 158,414 shares of the company’s stock after selling 46,604 shares during the period. Hsbc Holdings PLC’s holdings in Elastic were worth $12,001,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Focus Partners Wealth purchased a new position in shares of Elastic in the 1st quarter valued at approximately $494,000. Northwestern Mutual Wealth Management Co. grew its position 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 buying an additional 171 shares during the last quarter. Invesco Ltd. increased its stake in Elastic by 11.7% in the 2nd quarter. Invesco Ltd. now owns 95,332 shares of the company’s stock valued at $8,039,000 after buying an additional 9,990 shares during the period. EverSource Wealth Advisors LLC raised its position in Elastic by 400.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the company’s stock worth $178,000 after buying an additional 1,688 shares during the last quarter. Finally, Cerity Partners LLC raised its position in Elastic by 24.7% during the 2nd quarter. Cerity Partners LLC now owns 30,545 shares of the company’s stock worth $2,576,000 after buying an additional 6,056 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. UBS Group reaffirmed a “buy” rating and issued a $85.00 target price on shares of Elastic in a report on Friday, May 29th. DA Davidson lowered their price objective on Elastic from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, May 29th. Zacks Research cut Elastic from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 28th. Stifel Nicolaus set a $65.00 target price on Elastic in a research note on Friday, May 29th. Finally, Piper Sandler decreased their price target on Elastic from $110.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Eighteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.04.

Elastic Stock Performance

ESTC opened at $53.53 on Friday. Elastic N.V. has a 1-year low of $42.05 and a 1-year high of $96.07. The stock has a market cap of $5.56 billion, a P/E ratio of 15.29, a P/E/G ratio of 15.09 and a beta of 1.00. The stock’s 50 day simple moving average is $54.79 and its 200 day simple moving average is $60.21. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.68 and a quick ratio of 1.68.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.61 earnings per share (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 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 revenue was up 16.0% on a year-over-year basis. During the same period in the previous 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. As a group, equities analysts anticipate that Elastic N.V. will post 0.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Carolyn Herzog sold 9,485 shares of Elastic stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $574,885.85. Following the completion of the transaction, the insider owned 128,439 shares of the company’s stock, valued at $7,784,687.79. The trade was a 6.88% decrease in their position. The transaction 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, CFO Navam Welihinda sold 12,961 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $785,566.21. Following the completion of the sale, the chief financial officer owned 209,254 shares in the company, valued at $12,682,884.94. This represents a 5.83% 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. Over the last quarter, insiders have sold 110,099 shares of company stock valued at $6,673,100. Company insiders own 12.70% of the company’s stock.

Elastic Company Profile

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.