KLP Kapitalforvaltning AS Purchases 700 Shares of Elastic N.V. $ESTC

KLP Kapitalforvaltning AS increased its position in Elastic N.V. (NYSE:ESTC) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,600 shares of the company’s stock after acquiring an additional 700 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Elastic were worth $1,569,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ESTC. Cloud Capital Management LLC bought a new position in shares of Elastic during the 1st quarter worth about $25,000. Signaturefd LLC increased its holdings in shares of Elastic by 53.7% during the 1st quarter. Signaturefd LLC now owns 335 shares of the company’s stock worth $30,000 after purchasing an additional 117 shares during the period. North Capital Inc. bought a new position in shares of Elastic during the 1st quarter worth about $37,000. Smartleaf Asset Management LLC increased its holdings in shares of Elastic by 53.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock worth $40,000 after purchasing an additional 152 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Elastic by 134.6% during the 1st quarter. GAMMA Investing LLC now owns 570 shares of the company’s stock worth $51,000 after purchasing an additional 327 shares during the period. Institutional investors own 97.03% of the company’s stock.

Elastic Price Performance

NYSE:ESTC opened at $84.81 on Tuesday. The firm has a market cap of $9.01 billion, a PE ratio of -106.01 and a beta of 1.05. Elastic N.V. has a 12 month low of $70.14 and a 12 month high of $118.84. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.59. The company’s 50-day moving average price is $83.49 and its two-hundred day moving average price is $84.35.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, August 28th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.50). The business had revenue of $415.29 million for the quarter, compared to the consensus estimate of $397.13 million. Elastic had a negative return on equity of 1.68% and a negative net margin of 5.38%.The company’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm earned $0.35 earnings per share. Elastic has set its FY 2026 guidance at 2.290-2.350 EPS. Q2 2026 guidance at 0.560-0.580 EPS. On average, equities analysts anticipate that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Elastic announced that its board has authorized a share buyback program on Thursday, October 9th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Canaccord Genuity Group boosted their price objective on shares of Elastic from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Robert W. Baird boosted their price objective on shares of Elastic from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday. Rosenblatt Securities restated a “buy” rating and set a $130.00 price objective on shares of Elastic in a report on Friday, August 29th. Monness Crespi & Hardt boosted their price objective on shares of Elastic from $111.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Finally, Cowen restated a “hold” rating on shares of Elastic in a report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $119.00.

Insider Buying and Selling at Elastic

In related news, insider Ken Exner sold 6,290 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total transaction of $566,854.80. Following the completion of the sale, the insider directly owned 233,582 shares of the company’s stock, valued at $21,050,409.84. The trade was a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $88.12, for a total transaction of $440,600.00. Following the sale, the chief executive officer directly owned 452,314 shares of the company’s stock, valued at approximately $39,857,909.68. This trade represents a 1.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 350,792 shares of company stock valued at $30,978,369 over the last 90 days. Company insiders own 12.70% of the company’s stock.

About Elastic

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.