Elastic (NYSE:ESTC) Shares Bought by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale grew its holdings in shares of Elastic (NYSE:ESTC) by 7.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,746 shares of the company’s stock after purchasing an additional 1,401 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Elastic were worth $2,261,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Asset Dedication LLC increased its stake in Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after buying an additional 280 shares during the period. AlphaCentric Advisors LLC bought a new position in shares of Elastic in the second quarter valued at approximately $40,000. Lynx Investment Advisory bought a new position in shares of Elastic in the second quarter valued at approximately $43,000. Signaturefd LLC increased its stake in shares of Elastic by 44.1% during the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after acquiring an additional 119 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in Elastic during the first quarter worth approximately $64,000. 97.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Janesh Moorjani sold 6,941 shares of Elastic stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $487,605.25. Following the completion of the sale, the chief financial officer now directly owns 195,550 shares in the company, valued at approximately $13,737,387.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Elastic news, CFO Janesh Moorjani sold 6,941 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $487,605.25. Following the transaction, the chief financial officer now directly owns 195,550 shares in the company, valued at $13,737,387.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ashutosh Kulkarni sold 9,664 shares of the business’s stock in a transaction dated 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. Insiders have sold a total of 347,070 shares of company stock valued at $36,234,852 in the last three months. Insiders own 18.10% of the company’s stock.

Analyst Upgrades and Downgrades

ESTC has been the subject of a number of research reports. Canaccord Genuity Group decreased their price target on Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. DA Davidson decreased their target price on Elastic from $100.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, August 30th. Piper Sandler lowered their target price on Elastic from $131.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Wells Fargo & Company cut their price target on shares of Elastic from $145.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Finally, Royal Bank of Canada reduced their price objective on shares of Elastic from $135.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $104.24.

Elastic Price Performance

NYSE ESTC opened at $74.98 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. The firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of 141.92 and a beta of 0.95. The company has a 50 day simple moving average of $100.13 and a 200-day simple moving average of $103.62. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06.

Elastic (NYSE:ESTC) last posted its quarterly 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 business had revenue of $347.42 million for the quarter, compared to analysts’ expectations of $344.67 million. During the same period in the previous year, the company posted ($0.35) EPS. Elastic’s revenue was up 18.3% on a year-over-year basis. Equities research analysts predict that Elastic will post -0.94 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.