Osborne Partners Capital Management LLC Purchases 63,105 Shares of Elastic N.V. $ESTC

Osborne Partners Capital Management LLC increased its position in shares of Elastic N.V. (NYSE:ESTC) by 78.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 143,144 shares of the company’s stock after acquiring an additional 63,105 shares during the quarter. Osborne Partners Capital Management LLC’s holdings in Elastic were worth $7,156,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new stake in Elastic in the fourth quarter worth about $25,000. Geneos Wealth Management Inc. acquired a new position in Elastic during the 2nd quarter valued at about $31,000. Activest Wealth Management lifted its position in Elastic by 3,181.2% during the 4th 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. Aster Capital Management DIFC Ltd boosted its stake in shares of Elastic by 206.1% in the 4th 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 last quarter. Finally, Root Financial Partners LLC boosted its stake in shares of Elastic by 2,976.7% in the 1st quarter. Root Financial Partners LLC now owns 923 shares of the company’s stock valued at $46,000 after purchasing an additional 893 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Insider Transactions at Elastic

In other Elastic news, CTO Shay Banon sold 9,288 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 $562,945.68. Following the sale, the chief technology officer directly owned 4,417,140 shares in the company, valued at approximately $267,722,855.40. This trade represents a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Jane E. Bone sold 1,104 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 $66,913.44. Following the transaction, the chief accounting officer directly owned 53,415 shares in the company, valued at approximately $3,237,483.15. This represents a 2.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 valued at $6,673,100. Corporate insiders own 12.70% of the company’s stock.

Elastic Price Performance

Elastic stock opened at $57.86 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $6.01 billion, a P/E ratio of 16.53, a PEG ratio of 14.92 and a beta of 1.00. The business has a 50-day moving average of $55.89 and a 200-day moving average of $59.51. Elastic N.V. has a 1 year low of $42.05 and a 1 year high of $96.07.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The business had revenue of $450.68 million for the quarter, compared to the consensus estimate of $446.66 million. During the same period last year, the company posted $0.47 EPS. Elastic’s revenue for the quarter was up 16.0% on a year-over-year basis. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. On average, equities analysts anticipate that Elastic N.V. will post 0.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ESTC shares. Rothschild & Co Redburn assumed coverage on shares of Elastic in a research report on Thursday, April 23rd. They set a “neutral” rating and a $49.00 price target for the company. Stifel Nicolaus set a $65.00 price objective on shares of Elastic in a report on Friday, May 29th. Barclays reduced their price objective on shares of Elastic from $76.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. DA Davidson lowered their target price on shares of Elastic from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, May 29th. Finally, Citigroup upped their target price on shares of Elastic from $95.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Eighteen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.04.

Elastic 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.