California Public Employees Retirement System Cuts Stock Position in Elastic N.V. $ESTC

California Public Employees Retirement System cut its stake in shares of Elastic N.V. (NYSE:ESTC) by 22.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 128,736 shares of the company’s stock after selling 36,860 shares during the quarter. California Public Employees Retirement System owned 0.12% of Elastic worth $6,436,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ESTC. Bessemer Group Inc. purchased a new position in Elastic during the 1st quarter worth $25,000. Illinois Municipal Retirement Fund raised its holdings in Elastic by 11.7% during the first quarter. Illinois Municipal Retirement Fund now owns 11,165 shares of the company’s stock worth $558,000 after purchasing an additional 1,167 shares in the last quarter. 180 Wealth Advisors LLC raised its holdings in Elastic by 30.8% during the first quarter. 180 Wealth Advisors LLC now owns 5,764 shares of the company’s stock worth $288,000 after purchasing an additional 1,358 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Elastic in the first quarter valued at about $79,000. Finally, HB Wealth Management LLC lifted its position in Elastic by 11.2% in the first quarter. HB Wealth Management LLC now owns 4,363 shares of the company’s stock valued at $218,000 after purchasing an additional 441 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Elastic

In related news, insider Carolyn Herzog sold 9,485 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $574,885.85. Following the sale, the insider directly owned 128,439 shares in the company, valued at $7,784,687.79. The trade was a 6.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ken Exner sold 18,449 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $1,118,193.89. Following the transaction, the insider owned 360,037 shares of the company’s stock, valued at $21,821,842.57. This trade represents a 4.87% 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. Over the last ninety days, insiders have sold 110,099 shares of company stock worth $6,673,100. Insiders own 12.70% of the company’s stock.

Elastic Stock Performance

ESTC opened at $58.64 on Monday. The stock has a market cap of $6.10 billion, a P/E ratio of 16.75, a P/E/G ratio of 13.28 and a beta of 1.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.68 and a quick ratio of 1.68. The stock’s 50 day simple moving average is $59.40 and its 200 day simple moving average is $57.79. Elastic N.V. has a 1-year low of $42.05 and a 1-year high of $96.07.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.05. The firm had revenue of $450.68 million during the quarter, compared to analysts’ expectations of $446.66 million. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.Elastic’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 earnings per share. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. As a group, equities analysts anticipate that Elastic N.V. will post 0.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on ESTC shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $59.00 target price on shares of Elastic in a research report on Thursday, June 25th. Wedbush reduced their price target on Elastic from $74.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, May 29th. Scotiabank decreased their price target on Elastic from $61.00 to $58.00 and set a “sector perform” rating on the stock in a research note on Friday, May 29th. Weiss Ratings raised Elastic from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 15th. Finally, Wall Street Zen lowered Elastic from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Seventeen analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.78.

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.