Exchange Traded Concepts LLC Grows Stake in Elastic N.V. $ESTC

Exchange Traded Concepts LLC increased its stake in shares of Elastic N.V. (NYSE:ESTC) by 34.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 68,026 shares of the company’s stock after purchasing an additional 17,353 shares during the period. Exchange Traded Concepts LLC owned 0.06% of Elastic worth $5,132,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ESTC. Geneos Wealth Management Inc. purchased a new stake in Elastic during the 2nd quarter worth approximately $31,000. Promus Capital LLC purchased a new position in shares of Elastic in the second quarter valued at approximately $45,000. Smartleaf Asset Management LLC lifted its position in shares of Elastic by 75.6% in the third quarter. Smartleaf Asset Management LLC now owns 662 shares of the company’s stock valued at $58,000 after acquiring an additional 285 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of Elastic by 391.2% in the third quarter. True Wealth Design LLC now owns 673 shares of the company’s stock worth $57,000 after acquiring an additional 536 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of Elastic by 1,347.1% in the third quarter. Larson Financial Group LLC now owns 738 shares of the company’s stock worth $62,000 after acquiring an additional 687 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ESTC shares. Truist Financial reduced their price objective on Elastic from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Elastic in a research note on Wednesday, January 21st. Piper Sandler dropped their target price on shares of Elastic from $110.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, February 27th. DA Davidson decreased their price target on shares of Elastic from $80.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, March 2nd. Finally, Oppenheimer lowered their price target on shares of Elastic from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Seventeen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.25.

Elastic Trading Up 1.8%

Shares of Elastic stock opened at $49.39 on Tuesday. The stock has a 50 day moving average of $58.67 and a 200 day moving average of $73.30. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.82 and a current ratio of 1.82. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of -61.74, a PEG ratio of 62.34 and a beta of 0.98. Elastic N.V. has a fifty-two week low of $47.49 and a fifty-two week high of $96.07.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.64 by $0.09. The business had revenue of $449.88 million for the quarter, compared to analyst estimates of $438.37 million. Elastic had a negative return on equity of 2.34% and a negative net margin of 5.04%.The company’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 EPS. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. As a group, research analysts predict that Elastic N.V. will post -0.77 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Shay Banon sold 4,283 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $52.28, for a total value of $223,915.24. Following the sale, the chief technology officer directly owned 4,354,945 shares of the company’s stock, valued at approximately $227,676,524.60. The trade was a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carolyn Herzog sold 3,989 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $52.28, for a total transaction of $208,544.92. Following the completion of the transaction, the insider owned 85,335 shares in the company, valued at approximately $4,461,313.80. This represents a 4.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 39,375 shares of company stock valued at $2,091,797 over the last three months. Company insiders own 12.70% of the company’s stock.

About Elastic

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.