Legato Capital Management LLC Sells 750 Shares of Elastic N.V. (NYSE:ESTC)

Legato Capital Management LLC lessened its stake in shares of Elastic N.V. (NYSE:ESTC) by 11.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,918 shares of the company’s stock after selling 750 shares during the period. Legato Capital Management LLC’s holdings in Elastic were worth $527,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Thrivent Financial for Lutherans raised its holdings in Elastic by 187.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 9,073 shares of the company’s stock worth $899,000 after acquiring an additional 5,919 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Elastic by 4.6% during the first quarter. Bank of New York Mellon Corp now owns 504,823 shares of the company’s stock worth $44,980,000 after acquiring an additional 22,005 shares in the last quarter. Cetera Investment Advisers raised its holdings in Elastic by 13.3% during the fourth quarter. Cetera Investment Advisers now owns 7,203 shares of the company’s stock worth $714,000 after acquiring an additional 843 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Elastic during the first quarter worth about $205,000. Finally, Teacher Retirement System of Texas raised its holdings in Elastic by 26.6% during the first quarter. Teacher Retirement System of Texas now owns 18,130 shares of the company’s stock worth $1,615,000 after acquiring an additional 3,813 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Insider Activity

In other news, CRO Mark Eugene Dodds sold 5,514 shares of Elastic stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $479,221.74. Following the transaction, the executive owned 165,443 shares in the company, valued at approximately $14,378,651.13. This trade represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Carolyn Herzog sold 5,702 shares of Elastic stock in a transaction on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $495,560.82. Following the completion of the transaction, the insider owned 93,985 shares in the company, valued at approximately $8,168,236.35. The trade was a 5.72% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,913 shares of company stock worth $4,416,324. 15.90% of the stock is currently owned by insiders.

Elastic Price Performance

Elastic stock opened at $90.01 on Friday. The stock’s fifty day moving average price is $86.04 and its two-hundred day moving average price is $92.61. Elastic N.V. has a one year low of $69.00 and a one year high of $118.84. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a market cap of $9.50 billion, a PE ratio of -85.72 and a beta of 1.07.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $388.43 million for the quarter, compared to analyst estimates of $380.61 million. During the same quarter last year, the company earned $0.21 EPS. The company’s revenue was up 15.9% on a year-over-year basis. As a group, research analysts expect that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Cantor Fitzgerald dropped their price objective on Elastic from $109.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, May 30th. Morgan Stanley dropped their price objective on Elastic from $140.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Monness Crespi & Hardt upgraded Elastic from a “neutral” rating to a “buy” rating and set a $111.00 price objective on the stock in a research note on Friday, June 27th. Scotiabank dropped their price objective on Elastic from $137.00 to $95.00 and set a “sector outperform” rating on the stock in a research note on Friday, May 30th. Finally, Wall Street Zen upgraded Elastic from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Elastic currently has a consensus rating of “Moderate Buy” and an average price target of $112.72.

Elastic 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.