Elastic N.V. (NYSE:ESTC) Shares Sold by Emerald Advisers LLC

Emerald Advisers LLC lessened its stake in shares of Elastic N.V. (NYSE:ESTC) by 5.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 2,144 shares of the company’s stock after selling 120 shares during the period. Emerald Advisers LLC’s holdings in Elastic were worth $191,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other news, insider Ken Exner sold 6,918 shares of Elastic stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $601,243.38. Following the sale, the insider directly owned 230,494 shares of the company’s stock, valued at approximately $20,032,233.54. The trade was a 2.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Carolyn Herzog sold 5,702 shares of Elastic stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $495,560.82. Following the sale, the insider directly owned 93,985 shares in the company, valued at approximately $8,168,236.35. The trade was a 5.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,913 shares of company stock valued at $4,416,324 over the last ninety days. Insiders own 15.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Piper Sandler lowered their target price on Elastic from $135.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, May 30th. Scotiabank decreased their price objective on Elastic from $137.00 to $95.00 and set a “sector outperform” rating on the stock in a report on Friday, May 30th. KeyCorp initiated coverage on Elastic in a report on Tuesday, June 10th. They set a “sector weight” rating on the stock. Barclays decreased their price objective on Elastic from $124.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, May 30th. Finally, Canaccord Genuity Group decreased their price objective on Elastic from $135.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, June 2nd. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.52.

Elastic Trading Down 0.5%

NYSE:ESTC opened at $84.30 on Monday. The business’s 50-day moving average is $86.41 and its two-hundred day moving average is $93.43. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.92 and a quick ratio of 1.92. Elastic N.V. has a 12 month low of $69.00 and a 12 month high of $123.96. The firm has a market capitalization of $8.90 billion, a PE ratio of -80.29 and a beta of 1.07.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.37 by $0.10. Elastic had a negative return on equity of 4.46% and a negative net margin of 7.29%. The company had revenue of $388.43 million for the quarter, compared to analyst estimates of $380.61 million. During the same period last year, the company posted $0.21 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. Research analysts predict that Elastic N.V. will post -0.77 earnings per share for the current fiscal year.

About Elastic

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.