Alliancebernstein L.P. Has $1.42 Million Position in Elastic NV (NYSE:ESTC)

Alliancebernstein L.P. reduced its stake in Elastic NV (NYSE:ESTC) by 97.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 25,406 shares of the company’s stock after selling 1,000,818 shares during the quarter. Alliancebernstein L.P.’s holdings in Elastic were worth $1,418,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Piedmont Investment Advisors Inc. lifted its holdings in shares of Elastic by 5.0% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 3,416 shares of the company’s stock worth $220,000 after buying an additional 164 shares during the last quarter. American International Group Inc. lifted its holdings in shares of Elastic by 18.4% during the first quarter. American International Group Inc. now owns 1,229 shares of the company’s stock worth $69,000 after buying an additional 191 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Elastic by 30.6% during the first quarter. Steward Partners Investment Advisory LLC now owns 849 shares of the company’s stock worth $47,000 after buying an additional 199 shares during the last quarter. AXA lifted its holdings in shares of Elastic by 0.6% during the fourth quarter. AXA now owns 50,200 shares of the company’s stock worth $3,228,000 after buying an additional 300 shares during the last quarter. Finally, Altshuler Shaham Ltd lifted its holdings in shares of Elastic by 4,344.4% during the fourth quarter. Altshuler Shaham Ltd now owns 400 shares of the company’s stock worth $26,000 after buying an additional 391 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Shares of NYSE:ESTC opened at $91.76 on Wednesday. The business’s fifty day moving average price is $83.43 and its two-hundred day moving average price is $68.29. Elastic NV has a fifty-two week low of $39.01 and a fifty-two week high of $104.10. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of -43.08 and a beta of 0.93. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.61 and a quick ratio of 1.61.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.19. The firm had revenue of $123.60 million for the quarter, compared to analysts’ expectations of $117.15 million. Elastic had a negative return on equity of 35.71% and a negative net margin of 39.09%. The business’s revenue was up 52.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.28) earnings per share. Research analysts expect that Elastic NV will post -1.86 EPS for the current fiscal year.

In other news, CEO Shay Banon sold 10,000 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $50.42, for a total transaction of $504,200.00. Following the sale, the chief executive officer now owns 8,443,358 shares in the company, valued at $425,714,110.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin Kluge sold 5,000 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $53.11, for a total value of $265,550.00. Following the sale, the senior vice president now owns 536,188 shares in the company, valued at approximately $28,476,944.68. The disclosure for this sale can be found here. Insiders have sold 1,090,458 shares of company stock worth $94,250,236 in the last 90 days. Company insiders own 35.30% of the company’s stock.

A number of brokerages recently commented on ESTC. Zacks Investment Research upgraded Elastic from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Thursday, June 4th. DA Davidson upped their target price on Elastic from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Goldman Sachs Group upped their target price on Elastic from $75.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. They noted that the move was a valuation call. Jefferies Financial Group cut their target price on Elastic from $75.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Finally, Piper Sandler upped their target price on Elastic from $66.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $97.07.

Elastic Company Profile

Elastic N.V. develops and delivers technology that enables users to search structured and unstructured data for a range of consumer and enterprise applications. It primarily provides Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization.

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Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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