Maxi Investments CY Ltd Buys 9,638 Shares of Elastic N.V. $ESTC

Maxi Investments CY Ltd purchased a new stake in Elastic N.V. (NYSE:ESTC) during the third quarter, Holdings Channel reports. The institutional investor purchased 9,638 shares of the company’s stock, valued at approximately $884,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. acquired a new stake in Elastic in the first quarter valued at approximately $25,000. Basecamp Wealth Advisors LLC purchased a new position in Elastic in the first quarter worth approximately $28,000. Harbor Investment Advisory LLC purchased a new position in Elastic in the second quarter worth approximately $42,000. Signaturefd LLC increased its position in shares of Elastic by 101.6% in the 3rd quarter. Signaturefd LLC now owns 496 shares of the company’s stock valued at $45,000 after purchasing an additional 250 shares during the last quarter. Finally, Root Financial Partners LLC increased its position 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. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

ESTC has been the topic of a number of analyst reports. Morgan Stanley raised their price objective on shares of Elastic from $66.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 28th. Stifel Nicolaus boosted their target price on shares of Elastic from $107.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, October 9th. Zacks Research raised Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, August 28th. JPMorgan Chase & Co. increased their target price on Elastic from $93.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, August 28th. Finally, Canaccord Genuity Group raised their price target on Elastic from $80.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, Elastic presently has an average rating of “Moderate Buy” and a consensus price target of $98.56.

Insider Buying and Selling

In other Elastic news, CTO Shay Banon sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $96.47, for a total value of $19,294,000.00. Following the completion of the sale, the chief technology officer owned 1,854,978 shares in the company, valued at approximately $178,949,727.66. The trade was a 9.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ashutosh Kulkarni sold 29,227 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $87.78, for a total value of $2,565,546.06. Following the completion of the sale, the chief executive officer directly owned 599,525 shares of the company’s stock, valued at $52,626,304.50. The trade was a 4.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 4,585,641 shares of company stock worth $422,851,366 in the last quarter. 12.70% of the stock is owned by insiders.

Elastic Stock Up 3.9%

ESTC opened at $106.39 on Tuesday. The business’s 50-day simple moving average is $90.86 and its 200-day simple moving average is $66.97. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.81 and a current ratio of 1.81. Elastic N.V. has a one year low of $42.05 and a one year high of $108.00. The stock has a market capitalization of $11.17 billion, a P/E ratio of 29.80, a price-to-earnings-growth ratio of 8.60 and a beta of 1.03.

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

About Elastic

Elastic N.V. develops search-powered software and services for organizations worldwide. Its technology helps businesses search, analyze and act on structured and unstructured data across applications, websites, infrastructure and security environments. Elastic offers its products through cloud-based and self-managed deployment options.

The company’s core platform, the Elastic Search AI Platform, is built around Elasticsearch and Kibana. Its offerings include Elastic Cloud, a managed cloud service, as well as solutions for enterprise search, observability and security.