Pictet Asset Management Holding SA Has $324.55 Million Stake in Elastic N.V. $ESTC

Pictet Asset Management Holding SA grew its holdings in Elastic N.V. (NYSE:ESTC) by 43.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,492,717 shares of the company’s stock after acquiring an additional 1,958,219 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of Elastic worth $324,550,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Sound Income Strategies LLC bought a new stake in shares of Elastic during the 4th quarter valued at $25,000. Geneos Wealth Management Inc. bought a new position in Elastic in the 2nd quarter valued at about $31,000. Activest Wealth Management increased its holdings in Elastic by 3,181.2% in the 4th quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after buying an additional 509 shares during the period. Aster Capital Management DIFC Ltd increased its holdings in Elastic by 206.1% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock valued at $42,000 after buying an additional 371 shares during the period. Finally, Quarry LP raised its position in shares of Elastic by 16,200.0% in the 4th quarter. Quarry LP now owns 652 shares of the company’s stock valued at $49,000 after buying an additional 648 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Elastic

In other news, CRO Mark Eugene Dodds sold 18,439 shares of Elastic stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $1,117,587.79. Following the completion of the transaction, the executive directly owned 298,211 shares of the company’s stock, valued at approximately $18,074,568.71. This trade represents a 5.82% decrease in their position. The transaction was disclosed in a legal 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 Elastic stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $574,885.85. Following the completion of the sale, the insider owned 128,439 shares of the company’s stock, valued at approximately $7,784,687.79. The trade was a 6.88% decrease in their ownership of the stock. 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 have sold 110,099 shares of company stock worth $6,673,100. Company insiders own 12.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Jefferies Financial Group reduced their price target on shares of Elastic from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, May 29th. Wedbush lowered their price objective on shares of Elastic from $74.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, May 29th. Zacks Research cut Elastic from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 28th. Scotiabank cut their target price on Elastic from $61.00 to $58.00 and set a “sector perform” rating for the company in a research note on Friday, May 29th. Finally, Guggenheim reduced their target price on Elastic from $116.00 to $106.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Eighteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $79.04.

Elastic Stock Performance

Elastic stock opened at $56.24 on Friday. The business has a 50 day moving average of $54.96 and a 200-day moving average of $60.18. The company has a market capitalization of $5.85 billion, a P/E ratio of 16.07, a P/E/G ratio of 14.45 and a beta of 1.00. Elastic N.V. has a 1 year low of $42.05 and a 1 year 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.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. The company had revenue of $450.68 million for the quarter, compared to analyst estimates of $446.66 million. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. Elastic’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $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. On average, equities research analysts predict that Elastic N.V. will post 0.23 earnings per share for the current 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.