Virtu Financial LLC Acquires Shares of 11,085 Elastic N.V. (NYSE:ESTC)

Virtu Financial LLC acquired a new stake in shares of Elastic N.V. (NYSE:ESTC) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,085 shares of the company’s stock, valued at approximately $988,000.

A number of other institutional investors have also modified their holdings of the stock. LPL Financial LLC grew its position in shares of Elastic by 28.8% during the 4th quarter. LPL Financial LLC now owns 25,832 shares of the company’s stock valued at $2,559,000 after acquiring an additional 5,775 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Elastic by 17.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 24,348 shares of the company’s stock valued at $2,412,000 after acquiring an additional 3,602 shares during the period. Russell Investments Group Ltd. grew its position in shares of Elastic by 843.7% during the 4th quarter. Russell Investments Group Ltd. now owns 14,448 shares of the company’s stock valued at $1,432,000 after acquiring an additional 12,917 shares during the period. Cerity Partners LLC acquired a new stake in shares of Elastic during the 4th quarter valued at about $374,000. Finally, Invesco Ltd. grew its position in shares of Elastic by 5.4% during the 4th quarter. Invesco Ltd. now owns 76,329 shares of the company’s stock valued at $7,563,000 after acquiring an additional 3,887 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

ESTC has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their target price on Elastic from $120.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, May 30th. Robert W. Baird reduced their price objective on shares of Elastic from $125.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, May 30th. TD Securities reduced their price objective on shares of Elastic from $125.00 to $105.00 and set a “hold” rating for the company in a research report on Wednesday, May 21st. Stifel Nicolaus lowered their price objective on Elastic from $140.00 to $112.00 and set a “buy” rating on the stock in a report on Friday, May 30th. Finally, Piper Sandler lowered their price objective on Elastic from $135.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $112.72.

Elastic Stock Down 2.8%

ESTC stock opened at $72.45 on Tuesday. The firm has a market cap of $7.65 billion, a PE ratio of -69.00 and a beta of 1.07. 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 firm’s 50 day moving average price is $84.01 and its 200-day moving average price is $91.08. Elastic N.V. has a one year low of $69.00 and a one year high of $118.84.

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

Insider Activity

In other Elastic news, insider Ken Exner sold 6,918 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $601,243.38. Following the sale, the insider owned 230,494 shares of the company’s stock, valued at $20,032,233.54. The trade was a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Carolyn Herzog sold 5,702 shares of the business’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 $495,560.82. Following the completion of 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,913 shares of company stock worth $4,416,324. 15.90% of the stock is owned by company insiders.

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.