Acadian Asset Management LLC Has $224,000 Stock Holdings in Elastic (NYSE:ESTC)

Acadian Asset Management LLC decreased its position in shares of Elastic (NYSE:ESTC) by 61.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,967 shares of the company’s stock after selling 3,127 shares during the period. Acadian Asset Management LLC’s holdings in Elastic were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Baillie Gifford & Co. lifted its stake in Elastic by 30.8% in the 1st quarter. Baillie Gifford & Co. now owns 10,156,726 shares of the company’s stock valued at $1,018,110,000 after purchasing an additional 2,392,356 shares during the last quarter. Vanguard Group Inc. lifted its stake in Elastic by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 8,613,723 shares of the company’s stock valued at $863,440,000 after purchasing an additional 44,597 shares during the last quarter. Optimus Prime Fund Management Co. Ltd. lifted its stake in Elastic by 5.2% in the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 1,004,000 shares of the company’s stock valued at $113,151,000 after purchasing an additional 50,000 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Elastic in the 2nd quarter valued at approximately $102,169,000. Finally, Goldman Sachs Group Inc. lifted its stake in Elastic by 77.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 834,033 shares of the company’s stock valued at $93,996,000 after purchasing an additional 364,418 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ESTC. Citigroup raised their price target on shares of Elastic from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Canaccord Genuity Group dropped their price target on shares of Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Wells Fargo & Company dropped their price target on shares of Elastic from $145.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Robert W. Baird downgraded shares of Elastic from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $135.00 to $95.00 in a research note on Friday, August 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a research note on Friday, August 30th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Elastic presently has an average rating of “Moderate Buy” and an average target price of $103.48.

Elastic Stock Up 0.1 %

Shares of NYSE ESTC opened at $76.39 on Friday. The stock has a market capitalization of $7.77 billion, a P/E ratio of 144.13 and a beta of 0.95. The company has a 50-day moving average price of $97.52 and a 200-day moving average price of $103.00. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the company earned ($0.35) earnings per share. The business’s revenue was up 18.3% on a year-over-year basis. On average, equities research analysts forecast that Elastic will post -0.94 EPS for the current fiscal year.

Insider Activity at Elastic

In related news, CFO Janesh Moorjani sold 6,941 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were 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 of the company’s stock, valued at $13,737,387.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Elastic news, CFO Janesh Moorjani sold 6,941 shares of Elastic stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $487,605.25. Following the sale, the chief financial officer now owns 195,550 shares of the company’s stock, valued at $13,737,387.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Shay Banon sold 120,000 shares of Elastic stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $109.48, for a total transaction of $13,137,600.00. Following the completion of the sale, the chief technology officer now directly owns 2,754,978 shares in the company, valued at approximately $301,614,991.44. The disclosure for this sale can be found here. Insiders have sold 167,070 shares of company stock valued at $16,827,252 over the last ninety days. Corporate insiders own 18.10% of the company’s stock.

Elastic Company 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.