Dimensional Fund Advisors LP Grows Position in Elastic (NYSE:ESTC)

Dimensional Fund Advisors LP lifted its position in shares of Elastic (NYSE:ESTC) by 16.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 216,287 shares of the company’s stock after purchasing an additional 30,810 shares during the quarter. Dimensional Fund Advisors LP owned about 0.21% of Elastic worth $24,640,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB purchased a new position in shares of Elastic during the first quarter valued at approximately $3,104,000. Toronto Dominion Bank purchased a new stake in shares of Elastic in the first quarter worth $5,780,000. Quantbot Technologies LP increased its holdings in shares of Elastic by 165.2% during the first quarter. Quantbot Technologies LP now owns 12,921 shares of the company’s stock valued at $1,295,000 after acquiring an additional 8,048 shares in the last quarter. CenterBook Partners LP increased its holdings in shares of Elastic by 13.1% during the fourth quarter. CenterBook Partners LP now owns 27,985 shares of the company’s stock valued at $3,154,000 after acquiring an additional 3,245 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Elastic by 737.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,617 shares of the company’s stock worth $1,766,000 after purchasing an additional 15,514 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Elastic Price Performance

NYSE ESTC opened at $76.25 on Friday. The business’s fifty day moving average is $91.52 and its 200 day moving average is $101.40. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 1.91. The company has a market capitalization of $7.76 billion, a PE ratio of 143.87 and a beta of 0.94.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share 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 for the quarter, compared to analysts’ expectations of $344.67 million. During the same period in the previous year, the firm earned ($0.35) EPS. The business’s quarterly revenue was up 18.3% on a year-over-year basis. Sell-side analysts predict that Elastic will post -0.92 earnings per share for the current year.

Insider Activity

In other news, CTO Shay Banon sold 2,666 shares of the company’s stock in a transaction dated 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 transaction, the chief technology officer now owns 4,543,190 shares of the company’s stock, valued at $319,159,097.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Paul R. Auvil III acquired 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $74.25 per share, with a total value of $1,485,000.00. Following the acquisition, the director now directly owns 22,627 shares of the company’s stock, valued at $1,680,054.75. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Shay Banon sold 2,666 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 value of $187,286.50. Following the completion of the sale, the chief technology officer now directly owns 4,543,190 shares in the company, valued at $319,159,097.50. The disclosure for this sale can be found here. Insiders have sold 37,406 shares of company stock worth $2,627,772 in the last three months. Company insiders own 18.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Elastic in a research note on Friday, August 30th. Bank of America downgraded shares of Elastic from a “buy” rating to a “neutral” rating and reduced their price target for the company from $140.00 to $94.00 in a research report on Friday, August 30th. Baird R W cut Elastic from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 30th. Truist Financial reduced their target price on Elastic from $140.00 to $105.00 and set a “buy” rating for the company in a report on Friday, August 30th. Finally, Jefferies Financial Group lowered their price target on Elastic from $140.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $103.48.

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.