Baird Financial Group Inc. Sells 102,929 Shares of Elastic N.V. $ESTC

Baird Financial Group Inc. cut its holdings in shares of Elastic N.V. (NYSE:ESTC) by 72.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,080 shares of the company’s stock after selling 102,929 shares during the quarter. Baird Financial Group Inc.’s holdings in Elastic were worth $3,380,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC raised its stake in Elastic by 3.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,569,578 shares of the company’s stock valued at $132,384,000 after purchasing an additional 54,812 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Elastic by 6,651.3% during the 1st quarter. AQR Capital Management LLC now owns 1,403,859 shares of the company’s stock worth $122,978,000 after purchasing an additional 1,383,065 shares during the period. RGM Capital LLC raised its position in shares of Elastic by 38.1% during the first quarter. RGM Capital LLC now owns 1,197,030 shares of the company’s stock valued at $106,655,000 after buying an additional 330,290 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in shares of Elastic by 1,450.8% in the first quarter. Driehaus Capital Management LLC now owns 880,454 shares of the company’s stock valued at $78,448,000 after buying an additional 823,680 shares during the period. Finally, TimesSquare Capital Management LLC grew its position in Elastic by 23.9% during the second quarter. TimesSquare Capital Management LLC now owns 636,920 shares of the company’s stock worth $53,711,000 after buying an additional 122,890 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Stock Performance

NYSE:ESTC opened at $78.83 on Thursday. The stock has a market capitalization of $8.31 billion, a P/E ratio of -76.54 and a beta of 0.97. Elastic N.V. has a 1 year low of $68.10 and a 1 year high of $118.84. The firm has a 50 day moving average of $82.74 and a 200-day moving average of $83.82. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.64.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, November 20th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.06. The firm had revenue of $423.48 million during the quarter, compared to analysts’ expectations of $418.27 million. Elastic had a negative return on equity of 2.02% and a negative net margin of 6.79%.The business’s revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm posted $0.59 EPS. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. As a group, sell-side analysts anticipate that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Elastic declared that its board has authorized a stock repurchase program on Thursday, October 9th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Carolyn Herzog sold 5,353 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total transaction of $401,742.65. Following the transaction, the insider owned 89,324 shares in the company, valued at $6,703,766.20. This represents a 5.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ken Exner sold 6,544 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total transaction of $491,127.20. Following the sale, the insider directly owned 227,038 shares in the company, valued at approximately $17,039,201.90. This represents a 2.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 62,101 shares of company stock valued at $4,750,602 over the last three months. Company insiders own 12.70% of the company’s stock.

Wall Street Analysts Forecast Growth

ESTC has been the subject of several recent research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 price target on shares of Elastic in a report on Wednesday, November 19th. Wall Street Zen upgraded Elastic from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. Wells Fargo & Company decreased their price target on shares of Elastic from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, November 21st. Mizuho boosted their price target on shares of Elastic from $100.00 to $119.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Finally, DA Davidson reduced their price objective on shares of Elastic from $100.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, November 21st. Seventeen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Elastic currently has a consensus rating of “Moderate Buy” and an average target price of $107.25.

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.