Hsbc Holdings PLC Sells 46,604 Shares of Elastic N.V. $ESTC

Hsbc Holdings PLC cut its holdings in Elastic N.V. (NYSE:ESTC) by 22.7% during the 4th quarter, Holdings Channel reports. The firm owned 158,414 shares of the company’s stock after selling 46,604 shares during the period. Hsbc Holdings PLC’s holdings in Elastic were worth $12,001,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Sound Income Strategies LLC purchased a new stake in Elastic in the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. purchased a new position in shares of Elastic during the second quarter valued at approximately $31,000. Activest Wealth Management raised its holdings in shares of Elastic by 3,181.2% during the fourth quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after acquiring an additional 509 shares in the last quarter. Aster Capital Management DIFC Ltd raised its holdings in shares of Elastic by 206.1% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock valued at $42,000 after acquiring an additional 371 shares in the last quarter. Finally, Quarry LP lifted its stake in Elastic by 16,200.0% in the fourth quarter. Quarry LP now owns 652 shares of the company’s stock worth $49,000 after acquiring an additional 648 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Trading Up 1.5%

NYSE ESTC opened at $59.43 on Wednesday. Elastic N.V. has a 12 month low of $42.05 and a 12 month high of $96.07. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.45. The stock’s fifty day moving average price is $56.41 and its 200-day moving average price is $59.18. The stock has a market cap of $6.18 billion, a P/E ratio of 16.98, a P/E/G ratio of 15.04 and a beta of 1.00.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The company had revenue of $450.68 million for the quarter, compared to analysts’ expectations of $446.66 million. During the same quarter in the previous year, the business posted $0.47 EPS. Elastic’s revenue 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 analysts forecast that Elastic N.V. will post 0.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ken Exner sold 18,449 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider owned 360,037 shares in the company, valued at approximately $21,821,842.57. This represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Carolyn Herzog sold 9,485 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $574,885.85. Following the sale, the insider owned 128,439 shares in the company, valued at approximately $7,784,687.79. The trade was a 6.88% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 110,099 shares of company stock valued at $6,673,100. 12.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ESTC. Wall Street Zen cut shares of Elastic from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Royal Bank Of Canada dropped their target price on shares of Elastic from $80.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, April 16th. Scotiabank cut their target price on shares of Elastic from $61.00 to $58.00 and set a “sector perform” rating on the stock in a research note on Friday, May 29th. Wedbush reduced their price target on shares of Elastic from $74.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, May 29th. Finally, Guggenheim decreased their price target on shares of Elastic from $116.00 to $106.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Eighteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.04.

Elastic Company 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.