Creative Planning Buys 1,668 Shares of Elastic (NYSE:ESTC)

Creative Planning increased its position in shares of Elastic (NYSE:ESTC) by 21.5% during the 2nd quarter, Holdings Channel reports. The fund owned 9,413 shares of the company’s stock after buying an additional 1,668 shares during the quarter. Creative Planning’s holdings in Elastic were worth $1,072,000 at the end of the most recent quarter.

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

Insider Activity

In related news, CFO Janesh Moorjani sold 6,941 shares of the firm’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 $487,605.25. Following the completion of the transaction, the chief financial officer now directly owns 195,550 shares of the company’s stock, valued at $13,737,387.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Elastic news, CEO Ashutosh Kulkarni sold 19,649 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $1,380,342.25. Following the sale, the chief executive officer now owns 432,648 shares of the company’s stock, valued at approximately $30,393,522. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $487,605.25. Following the completion of the transaction, the chief financial officer now directly owns 195,550 shares of the company’s stock, valued at approximately $13,737,387.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,406 shares of company stock valued at $2,627,772. Insiders own 18.10% of the company’s stock.

Elastic Stock Up 2.7 %

Shares of NYSE:ESTC opened at $82.00 on Friday. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06. The company has a market capitalization of $8.34 billion, a PE ratio of 154.72 and a beta of 0.94. 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 fifty day moving average of $87.70 and a 200-day moving average of $100.42.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.10. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. The company 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 business posted ($0.35) earnings per share. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. On average, equities analysts predict that Elastic will post -0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. UBS Group lowered their target price on Elastic from $135.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 30th. Stifel Nicolaus reduced their price target on Elastic from $120.00 to $98.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Wells Fargo & Company lowered their price objective on shares of Elastic from $145.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Royal Bank of Canada reduced their target price on shares of Elastic from $135.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, August 30th. Finally, Robert W. Baird lowered shares of Elastic from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $135.00 to $95.00 in a research note on Friday, August 30th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.71.

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.