Elastic N.V. (NYSE:ESTC) Shares Purchased by Covestor Ltd

Covestor Ltd grew its position in shares of Elastic N.V. (NYSE:ESTC) by 626.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 770 shares of the company’s stock after purchasing an additional 664 shares during the period. Covestor Ltd’s holdings in Elastic were worth $69,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Sylebra Capital LLC lifted its stake in Elastic by 62.6% during the fourth 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. Massachusetts Financial Services Co. MA lifted its stake in Elastic by 5,437.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company’s stock worth $203,872,000 after purchasing an additional 2,246,808 shares in the last quarter. Soma Equity Partners LP lifted its stake in Elastic by 61.5% during the fourth quarter. Soma Equity Partners LP now owns 989,349 shares of the company’s stock worth $98,025,000 after purchasing an additional 376,660 shares in the last quarter. Marshall Wace LLP increased its position in shares of 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 acquiring an additional 543,155 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Elastic by 137.1% during the first quarter. Assenagon Asset Management S.A. now owns 604,519 shares of the company’s stock worth $53,863,000 after acquiring an additional 349,507 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Stock Performance

Shares of ESTC stock opened at $76.40 on Thursday. Elastic N.V. has a 1 year low of $69.00 and a 1 year high of $118.84. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of -72.76 and a beta of 1.07. The stock’s 50-day moving average is $83.64 and its two-hundred day moving average is $90.85. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.92 and a current ratio of 1.92.

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 business had revenue of $388.43 million during the quarter, compared to the consensus estimate of $380.61 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. Analysts predict that Elastic N.V. will post -0.77 earnings per share for the current year.

Insider Buying and Selling at Elastic

In other news, insider Carolyn Herzog sold 5,702 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $495,560.82. Following the completion of the sale, the insider owned 93,985 shares in the company, valued at approximately $8,168,236.35. This represents a 5.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Mark Eugene Dodds sold 2,500 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $83.50, for a total transaction of $208,750.00. Following the sale, the executive owned 172,321 shares of the company’s stock, valued at $14,388,803.50. This trade represents a 1.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,913 shares of company stock valued at $4,416,324. Corporate insiders own 15.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ESTC. KeyCorp began coverage on Elastic in a research report on Tuesday, June 10th. They set a “sector weight” rating on the stock. TD Securities cut their price objective on Elastic from $125.00 to $105.00 and set a “hold” rating on the stock in a research report on Wednesday, May 21st. UBS Group reaffirmed a “buy” rating and set a $95.00 price objective (down previously from $148.00) on shares of Elastic in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on Elastic from $120.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, May 30th. Finally, Canaccord Genuity Group cut their price objective on Elastic from $135.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday, June 2nd. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.60.

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.