Vanguard Personalized Indexing Management LLC Increases Position in Elastic (NYSE:ESTC)

Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Elastic (NYSE:ESTC) by 20.1% during the second quarter, HoldingsChannel.com reports. The firm owned 6,710 shares of the company’s stock after purchasing an additional 1,123 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Elastic were worth $764,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Andar Capital Management HK Ltd acquired a new stake in shares of Elastic in the second quarter valued at about $2,278,000. Dimensional Fund Advisors LP raised its stake in Elastic by 16.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 216,287 shares of the company’s stock valued at $24,640,000 after purchasing an additional 30,810 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Elastic by 4.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 55,823 shares of the company’s stock valued at $6,359,000 after buying an additional 2,586 shares during the last quarter. Federated Hermes Inc. boosted its position in Elastic by 32,630.2% during the second quarter. Federated Hermes Inc. now owns 615,655 shares of the company’s stock worth $70,129,000 after acquiring an additional 613,774 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Elastic by 7.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 19,746 shares of the company’s stock worth $2,261,000 after purchasing an additional 1,401 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ESTC has been the subject of a number of recent research reports. Jefferies Financial Group cut their target price on Elastic from $140.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Royal Bank of Canada cut 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. DA Davidson decreased their target price on shares of Elastic from $100.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, August 30th. Scotiabank cut their price target on shares of Elastic from $135.00 to $92.00 and set a “sector outperform” rating for the company in a report on Friday, August 30th. Finally, Oppenheimer reduced their price target on shares of Elastic from $150.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, August 30th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $103.48.

Insider Transactions at Elastic

In related news, CEO Ashutosh Kulkarni sold 19,649 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $1,380,342.25. Following the sale, the chief executive officer now owns 432,648 shares of the company’s stock, valued at $30,393,522. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Ashutosh Kulkarni sold 19,649 shares of the firm’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 $1,380,342.25. Following the sale, the chief executive officer now directly owns 432,648 shares in the company, valued at approximately $30,393,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Carolyn Herzog sold 4,489 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $315,352.25. Following the transaction, the insider now owns 102,959 shares of the company’s stock, valued at approximately $7,232,869.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,406 shares of company stock valued at $2,627,772. 18.10% of the stock is currently owned by corporate insiders.

Elastic Price Performance

Elastic stock opened at $78.19 on Wednesday. The company’s 50 day moving average is $95.89 and its two-hundred day moving average is $102.53. The firm has a market cap of $7.95 billion, a PE ratio of 147.53 and a beta of 0.94. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06.

Elastic (NYSE:ESTC) last released its earnings results 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 negative return on equity of 17.54% and a net margin of 4.62%. The firm had revenue of $347.42 million during the quarter, compared to analyst estimates of $344.67 million. During the same period last year, the business posted ($0.35) earnings per share. Elastic’s revenue was up 18.3% compared to the same quarter last year. On average, research analysts expect that Elastic will post -0.94 EPS for the current fiscal year.

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.