Elastic (NYSE:ESTC) Stake Raised by River Global Investors LLP

River Global Investors LLP boosted its holdings in Elastic (NYSE:ESTC) by 121.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,884 shares of the company’s stock after acquiring an additional 10,891 shares during the quarter. River Global Investors LLP’s holdings in Elastic were worth $1,526,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank acquired a new position in shares of Elastic during the first quarter valued at approximately $5,780,000. Quantbot Technologies LP lifted its holdings in shares of Elastic by 165.2% in the first quarter. Quantbot Technologies LP now owns 12,921 shares of the company’s stock valued at $1,295,000 after buying an additional 8,048 shares during the period. Interval Partners LP bought a new position in Elastic during the first quarter valued at about $1,704,000. Russell Investments Group Ltd. grew its holdings in Elastic by 993.0% during the first quarter. Russell Investments Group Ltd. now owns 17,236 shares of the company’s stock worth $1,728,000 after acquiring an additional 15,659 shares during the period. Finally, WD Rutherford LLC bought a new stake in Elastic in the second quarter worth about $422,000. Institutional investors own 97.03% of the company’s stock.

Elastic Stock Up 1.1 %

Shares of Elastic stock traded up $0.97 during midday trading on Friday, reaching $86.95. 780,467 shares of the company’s stock traded hands, compared to its average volume of 905,654. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06. The company’s 50 day simple moving average is $78.21 and its 200 day simple moving average is $97.97. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 1.91. The company has a market cap of $8.93 billion, a price-to-earnings ratio of 158.09 and a beta of 0.94.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, August 29th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.25 by $0.10. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The firm had revenue of $347.42 million during the quarter, compared to analysts’ expectations of $344.67 million. During the same period in the prior year, the company earned ($0.35) EPS. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. Equities analysts expect that Elastic will post -0.92 earnings per share for the current fiscal year.

Insider Transactions at Elastic

In related news, CTO Shay Banon sold 2,666 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $187,286.50. Following the completion of the transaction, the chief technology officer now directly owns 4,543,190 shares in the company, valued at approximately $319,159,097.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CRO Mark Eugene Dodds sold 3,661 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $257,185.25. Following the completion of the transaction, the executive now owns 102,683 shares in the company, valued at $7,213,480.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Shay Banon sold 2,666 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $187,286.50. Following the completion of the sale, the chief technology officer now owns 4,543,190 shares in the company, valued at $319,159,097.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,406 shares of company stock valued at $2,627,772. 15.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. TD Cowen cut their target price on shares of Elastic from $110.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Baird R W cut Elastic from a “strong-buy” rating to a “hold” rating in a report on Friday, August 30th. Rosenblatt Securities reaffirmed a “buy” rating and set a $136.00 target price on shares of Elastic in a report on Tuesday, August 27th. Wells Fargo & Company dropped their price target on Elastic from $145.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Finally, William Blair raised shares of Elastic from a “market perform” rating to an “outperform” rating in a research note on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.71.

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.