Elastic (NYSE:ESTC) Stock Holdings Raised by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its stake in Elastic (NYSE:ESTC) by 8.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,469 shares of the company’s stock after purchasing an additional 185 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Elastic were worth $278,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of ESTC. Rakuten Securities Inc. acquired a new stake in Elastic during the fourth quarter valued at approximately $25,000. GAMMA Investing LLC bought a new position in Elastic during the fourth quarter worth $39,000. Cypress Capital Management LLC WY acquired a new position in Elastic in the fourth quarter worth $45,000. Harvest Fund Management Co. Ltd bought a new stake in Elastic during the fourth quarter valued at $97,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Elastic during the fourth quarter worth $143,000. Institutional investors own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ESTC. JPMorgan Chase & Co. lowered their price objective on shares of Elastic from $138.00 to $125.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. UBS Group started coverage on Elastic in a report on Wednesday, May 22nd. They issued a “buy” rating and a $135.00 price target on the stock. Robert W. Baird lowered their price objective on Elastic from $137.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Royal Bank of Canada raised their target price on Elastic from $134.00 to $147.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Elastic in a report on Friday, May 31st. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $118.05.

Insider Transactions at Elastic

In related news, CRO Mark Eugene Dodds sold 3,457 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $110.78, for a total value of $382,966.46. Following the completion of the sale, the executive now owns 82,498 shares in the company, valued at approximately $9,139,128.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CRO Mark Eugene Dodds sold 3,457 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $110.78, for a total transaction of $382,966.46. Following the transaction, the executive now directly owns 82,498 shares of the company’s stock, valued at $9,139,128.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Shay Banon sold 5,260 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $109.89, for a total transaction of $578,021.40. Following the completion of the transaction, the chief technology officer now owns 4,545,856 shares in the company, valued at approximately $499,544,115.84. The disclosure for this sale can be found here. Insiders have sold a total of 355,312 shares of company stock valued at $38,626,610 over the last ninety days. Corporate insiders own 18.10% of the company’s stock.

Elastic Price Performance

Shares of NYSE ESTC opened at $113.91 on Monday. Elastic has a twelve month low of $57.38 and a twelve month high of $136.06. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average of $107.44 and a two-hundred day moving average of $110.38. The company has a market capitalization of $11.59 billion, a price-to-earnings ratio of 214.92 and a beta of 0.92.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, May 30th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.03). The company had revenue of $335.00 million for the quarter, compared to analysts’ expectations of $329.15 million. Elastic had a net margin of 4.87% and a negative return on equity of 20.83%. As a group, analysts expect that Elastic will post -1.12 earnings per share for the current fiscal year.

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.