Daventry Group LP Has $12.40 Million Stock Holdings in Elastic N.V. $ESTC

Daventry Group LP lessened its position in Elastic N.V. (NYSE:ESTC) by 35.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 248,037 shares of the company’s stock after selling 136,472 shares during the period. Elastic makes up 14.1% of Daventry Group LP’s portfolio, making the stock its 3rd biggest position. Daventry Group LP owned approximately 0.24% of Elastic worth $12,399,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ESTC. AQR Capital Management LLC grew its position in Elastic by 153.4% in the 4th quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock worth $569,201,000 after purchasing an additional 4,567,720 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Elastic by 516.1% in the first quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock valued at $131,356,000 after purchasing an additional 2,201,140 shares during the period. Pictet Asset Management Holding SA raised its holdings in shares of Elastic by 43.2% during the first quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company’s stock valued at $324,550,000 after buying an additional 1,958,219 shares during the last quarter. FIL Ltd raised its holdings in shares of Elastic by 36.9% during the fourth quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock valued at $273,753,000 after buying an additional 977,578 shares during the last quarter. Finally, Alyeska Investment Group L.P. boosted its position in shares of Elastic by 490.4% during the third quarter. Alyeska Investment Group L.P. now owns 1,113,503 shares of the company’s stock worth $94,080,000 after buying an additional 924,911 shares during the period. 97.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ESTC. Citigroup increased their price objective on Elastic from $95.00 to $104.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Zacks Research raised Elastic from a “strong sell” rating to a “hold” rating in a research note on Friday, June 26th. Cantor Fitzgerald reiterated a “neutral” rating and set a $59.00 price target on shares of Elastic in a research report on Thursday, June 25th. JPMorgan Chase & Co. decreased their price target on Elastic from $99.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, May 27th. Finally, William Blair initiated coverage on Elastic in a report on Friday, May 22nd. They set an “outperform” rating on the stock. Seventeen research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.78.

Insiders Place Their Bets

In other Elastic news, insider Ken Exner sold 18,449 shares of the company’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 $1,118,193.89. Following the completion of the sale, the insider directly owned 360,037 shares of the company’s stock, valued at approximately $21,821,842.57. This represents a 4.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Jane E. Bone sold 1,104 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 $66,913.44. Following the transaction, the chief accounting officer owned 53,415 shares of the company’s stock, valued at approximately $3,237,483.15. This trade represents a 2.02% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 110,099 shares of company stock valued at $6,673,100. 12.70% of the stock is currently owned by insiders.

Elastic Price Performance

NYSE ESTC opened at $61.12 on Tuesday. Elastic N.V. has a 12 month low of $42.05 and a 12 month high of $96.07. 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 firm has a market capitalization of $6.35 billion, a PE ratio of 17.46, a P/E/G ratio of 13.28 and a beta of 1.00. The company’s 50 day simple moving average is $59.54 and its 200 day simple moving average is $57.68.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The firm had revenue of $450.68 million during the quarter, compared to the consensus estimate of $446.66 million. During the same period in the prior year, the firm posted $0.47 earnings per share. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. 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 research analysts forecast that Elastic N.V. will post 0.26 EPS for the current fiscal year.

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.