Eventide Asset Management LLC Raises Stock Holdings in Elastic N.V. $ESTC

Eventide Asset Management LLC lifted its holdings in Elastic N.V. (NYSE:ESTC) by 16.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,077 shares of the company’s stock after buying an additional 1,686 shares during the quarter. Eventide Asset Management LLC’s holdings in Elastic were worth $1,076,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ESTC. Cloud Capital Management LLC purchased a new stake in shares of Elastic in the first quarter worth approximately $25,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Elastic in the fourth quarter worth approximately $26,000. Signaturefd LLC raised its holdings in shares of Elastic by 53.7% in the first quarter. Signaturefd LLC now owns 335 shares of the company’s stock worth $30,000 after buying an additional 117 shares during the period. North Capital Inc. purchased a new stake in shares of Elastic in the first quarter worth approximately $37,000. Finally, Smartleaf Asset Management LLC increased its holdings in Elastic by 53.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock worth $40,000 after purchasing an additional 152 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Elastic Stock Down 1.8%

Shares of NYSE ESTC opened at $84.71 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.92 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $9.00 billion, a PE ratio of -105.89 and a beta of 1.04. The stock’s fifty day simple moving average is $82.96 and its two-hundred day simple moving average is $87.24. Elastic N.V. has a 12-month low of $69.00 and a 12-month high of $118.84.

Analyst Upgrades and Downgrades

Several research firms have commented on ESTC. TD Securities reduced their price objective on Elastic from $125.00 to $105.00 and set a “hold” rating on the stock in a report on Wednesday, May 21st. Guggenheim raised their price objective on Elastic from $107.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, August 29th. JPMorgan Chase & Co. reduced their price objective on Elastic from $120.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, May 30th. Canaccord Genuity Group raised their price objective on Elastic from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Finally, Mizuho raised their price objective on Elastic from $100.00 to $119.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $120.00.

Insider Buying and Selling at Elastic

In other Elastic news, insider Ken Exner sold 6,918 shares of the stock in a transaction on 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 owned 230,494 shares of the company’s stock, valued at approximately $20,032,233.54. This trade represents a 2.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 5,117 shares of the firm’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $444,718.47. Following the completion of the sale, the chief technology officer directly owned 4,560,291 shares of the company’s stock, valued at $396,334,890.81. The trade was a 0.11% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,913 shares of company stock worth $4,416,324. 12.70% of the stock is currently owned by company insiders.

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.