Algert Global LLC Cuts Stock Holdings in Elastic (NYSE:ESTC)

Algert Global LLC trimmed its position in shares of Elastic (NYSE:ESTC) by 13.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,916 shares of the company’s stock after selling 5,531 shares during the quarter. Algert Global LLC’s holdings in Elastic were worth $3,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of ESTC. PNC Financial Services Group Inc. boosted its holdings in Elastic by 8.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,469 shares of the company’s stock worth $278,000 after acquiring an additional 185 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Elastic by 10.7% in the 4th quarter. Hsbc Holdings PLC now owns 26,413 shares of the company’s stock worth $2,978,000 after buying an additional 2,562 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Elastic by 3.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 35,184 shares of the company’s stock worth $3,965,000 after buying an additional 1,030 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Elastic by 1.8% in the 4th quarter. California State Teachers Retirement System now owns 87,777 shares of the company’s stock worth $9,892,000 after buying an additional 1,566 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Elastic in the 4th quarter worth about $1,536,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on ESTC. Canaccord Genuity Group cut their price target on shares of Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. Robert W. Baird downgraded shares of Elastic from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $135.00 to $95.00 in a report on Friday, August 30th. TD Cowen cut their price target on shares of Elastic from $110.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 30th. Needham & Company LLC reissued a “hold” rating on shares of Elastic in a report on Friday, August 30th. Finally, Oppenheimer dropped their price objective on shares of Elastic from $150.00 to $125.00 and set an “outperform” rating on the stock 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.48.

Insider Buying and Selling

In related news, insider Carolyn Herzog sold 4,489 shares of the company’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 $315,352.25. Following the transaction, the insider now directly owns 102,959 shares in the company, valued at $7,232,869.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Carolyn Herzog sold 4,489 shares of the company’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 $315,352.25. Following the transaction, the insider now directly owns 102,959 shares in the company, valued at $7,232,869.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Shay Banon sold 2,666 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $187,286.50. Following the completion of the sale, the chief technology officer now directly owns 4,543,190 shares of the company’s stock, valued at approximately $319,159,097.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,406 shares of company stock worth $2,627,772. Insiders own 18.10% of the company’s stock.

Elastic Trading Down 0.8 %

Shares of ESTC opened at $76.76 on Tuesday. The business’s 50-day moving average price is $93.05 and its 200-day moving average price is $101.76. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06. The stock has a market cap of $7.81 billion, a PE ratio of 144.83 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 (NYSE:ESTC) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.10. The firm had revenue of $347.42 million for the quarter, compared to analysts’ expectations of $344.67 million. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. The company’s revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.35) earnings per share. On average, equities analysts forecast that Elastic will post -0.92 EPS 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.