Elastic N.V. (NYSE:ESTC) Shares Sold by TrueMark Investments LLC

TrueMark Investments LLC reduced its holdings in Elastic N.V. (NYSE:ESTC) by 7.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,828 shares of the company’s stock after selling 1,408 shares during the period. TrueMark Investments LLC’s holdings in Elastic were worth $1,678,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sylebra Capital LLC lifted its stake in Elastic by 62.6% in the 4th quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company’s stock worth $451,950,000 after purchasing an additional 1,756,842 shares in the last quarter. Norges Bank acquired a new stake in shares of Elastic in the fourth quarter valued at approximately $102,485,000. Arrowstreet Capital Limited Partnership lifted its position in Elastic by 5,972.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company’s stock worth $73,751,000 after buying an additional 732,100 shares in the last quarter. Marshall Wace LLP lifted its position in Elastic by 554.9% during the fourth quarter. Marshall Wace LLP now owns 641,041 shares of the company’s stock worth $63,514,000 after buying an additional 543,155 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in Elastic during the fourth quarter worth $46,031,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Elastic

In related news, insider Ken Exner sold 6,918 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $601,243.38. Following the sale, the insider now owns 230,494 shares of the company’s stock, valued at $20,032,233.54. This trade represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 22,901 shares of Elastic stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $1,990,325.91. Following the completion of the transaction, the chief executive officer now owns 454,841 shares of the company’s stock, valued at $39,530,231.31. This represents a 4.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,413 shares of company stock valued at $4,720,774. 15.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Robert W. Baird cut their target price on Elastic from $125.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, May 30th. UBS Group raised their price objective on shares of Elastic from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Guggenheim decreased their target price on shares of Elastic from $136.00 to $107.00 and set a “buy” rating on the stock in a report on Friday, May 30th. Rosenblatt Securities cut their price target on shares of Elastic from $140.00 to $130.00 and set a “buy” rating for the company in a report on Friday, May 30th. Finally, Oppenheimer reduced their price target on shares of Elastic from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Eight research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $113.63.

Elastic Stock Down 1.5%

Shares of ESTC opened at $82.15 on Monday. The stock has a market capitalization of $8.67 billion, a PE ratio of -78.24 and a beta of 1.07. Elastic N.V. has a 1 year low of $69.00 and a 1 year high of $123.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.92 and a current ratio of 1.92. The company’s 50-day simple moving average is $85.34 and its 200-day simple moving average is $95.60.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.10. Elastic had a negative net margin of 7.29% and a negative return on equity of 4.46%. The firm had revenue of $388.43 million for the quarter, compared to the consensus estimate of $380.61 million. During the same period in the prior year, the firm earned $0.21 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. Analysts forecast that Elastic N.V. will post -0.77 earnings per share for the current fiscal year.

Elastic Company Profile

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers 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 on that data.