Federated Hermes Inc. Cuts Stock Holdings in Elastic N.V. $ESTC

Federated Hermes Inc. reduced its stake in Elastic N.V. (NYSE:ESTC) by 14.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 846,218 shares of the company’s stock after selling 137,514 shares during the quarter. Federated Hermes Inc. owned about 0.80% of Elastic worth $71,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ESTC. Northwestern Mutual Wealth Management Co. raised its position in shares of Elastic by 17.3% during 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 in the last quarter. Janney Montgomery Scott LLC increased its stake in Elastic by 5.1% in the second quarter. Janney Montgomery Scott LLC now owns 3,997 shares of the company’s stock valued at $337,000 after acquiring an additional 194 shares during the last quarter. California State Teachers Retirement System raised its position in Elastic by 0.3% during the second quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock valued at $7,033,000 after purchasing an additional 219 shares in the last quarter. Los Angeles Capital Management LLC raised its position in Elastic by 3.2% during the second quarter. Los Angeles Capital Management LLC now owns 7,321 shares of the company’s stock valued at $617,000 after purchasing an additional 226 shares in the last quarter. Finally, Huntington National Bank lifted its stake in Elastic by 97.5% during the second quarter. Huntington National Bank now owns 468 shares of the company’s stock worth $39,000 after purchasing an additional 231 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Insider Transactions at Elastic

In other news, CTO Shay Banon sold 4,552 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total transaction of $341,627.60. Following the transaction, the chief technology officer directly owned 4,359,228 shares of the company’s stock, valued at approximately $327,160,061.40. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jane E. Bone sold 1,187 shares of the firm’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $80.31, for a total value of $95,327.97. Following the completion of the sale, the chief accounting officer directly owned 43,171 shares of the company’s stock, valued at $3,467,063.01. The trade was a 2.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 61,828 shares of company stock worth $4,641,010. Corporate insiders own 12.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Morgan Stanley reduced their price objective on Elastic from $120.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, November 21st. Piper Sandler reduced their price target on shares of Elastic from $125.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, November 21st. Guggenheim lowered their price objective on shares of Elastic from $122.00 to $116.00 and set a “buy” rating for the company in a report on Friday, November 21st. Bank of America cut their price objective on shares of Elastic from $111.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, November 21st. Finally, Stifel Nicolaus decreased their target price on shares of Elastic from $134.00 to $108.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Seventeen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.71.

Elastic Trading Down 1.1%

Shares of ESTC opened at $73.44 on Thursday. The stock has a market capitalization of $7.74 billion, a P/E ratio of -71.30, a PEG ratio of 301.92 and a beta of 0.92. Elastic N.V. has a twelve month low of $67.96 and a twelve month high of $118.84. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.64. The firm has a fifty day simple moving average of $74.43 and a two-hundred day simple moving average of $81.39.

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

Elastic declared that its Board of Directors has initiated a stock repurchase plan on Thursday, October 9th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.