Headlands Technologies LLC Buys 270 Shares of Elastic (NYSE:ESTC)

Headlands Technologies LLC increased its stake in shares of Elastic (NYSE:ESTC) by 75.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 628 shares of the company’s stock after acquiring an additional 270 shares during the quarter. Headlands Technologies LLC’s holdings in Elastic were worth $72,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB bought a new position in shares of Elastic during the 1st quarter valued at about $3,104,000. Toronto Dominion Bank purchased a new position in Elastic during the 1st quarter valued at approximately $5,780,000. Quantbot Technologies LP increased its stake in Elastic by 165.2% in the 1st quarter. Quantbot Technologies LP now owns 12,921 shares of the company’s stock worth $1,295,000 after acquiring an additional 8,048 shares during the last quarter. CenterBook Partners LP raised its holdings in shares of Elastic by 13.1% during the 4th quarter. CenterBook Partners LP now owns 27,985 shares of the company’s stock worth $3,154,000 after acquiring an additional 3,245 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Elastic by 737.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,617 shares of the company’s stock valued at $1,766,000 after acquiring an additional 15,514 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elastic

In other news, CTO Shay Banon sold 180,000 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $107.82, for a total value of $19,407,600.00. Following the completion of the transaction, the chief technology officer now directly owns 2,874,978 shares of the company’s stock, valued at approximately $309,980,127.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CTO Shay Banon sold 180,000 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $107.82, for a total transaction of $19,407,600.00. Following the completion of the sale, the chief technology officer now owns 2,874,978 shares of the company’s stock, valued at $309,980,127.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ashutosh Kulkarni sold 9,664 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $109.88, for a total value of $1,061,880.32. Following the completion of the sale, the chief executive officer now directly owns 452,297 shares of the company’s stock, valued at approximately $49,698,394.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 347,070 shares of company stock valued at $36,234,852. 18.10% of the stock is currently owned by corporate insiders.

Elastic Price Performance

ESTC opened at $75.82 on Tuesday. The company has a market capitalization of $7.79 billion, a price-to-earnings ratio of 143.92 and a beta of 0.94. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The business’s fifty day simple moving average is $101.67 and its 200-day simple moving average is $104.32.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, topping 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 company had revenue of $347.42 million for the quarter, compared to analysts’ expectations of $344.67 million. During the same period in the prior year, the business earned ($0.35) EPS. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. On average, equities research analysts anticipate that Elastic will post -0.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Bank of America cut shares of Elastic from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $140.00 to $94.00 in a research report on Friday, August 30th. Stifel Nicolaus decreased their target price on shares of Elastic from $120.00 to $98.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Scotiabank dropped their price target on Elastic from $135.00 to $92.00 and set a “sector outperform” rating for the company in a research report on Friday, August 30th. Oppenheimer decreased their price objective on Elastic from $150.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, August 30th. Finally, Barclays dropped their target price on Elastic from $117.00 to $106.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.24.

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.