QRG Capital Management Inc. Boosts Stock Position in Elastic (NYSE:ESTC)

QRG Capital Management Inc. boosted its position in shares of Elastic (NYSE:ESTC) by 7.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,063 shares of the company’s stock after acquiring an additional 201 shares during the quarter. QRG Capital Management Inc.’s holdings in Elastic were worth $235,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ESTC. Allspring Global Investments Holdings LLC purchased a new stake in shares of Elastic during the first quarter worth $64,000. Swiss National Bank increased its holdings in Elastic by 1.3% during the 1st quarter. Swiss National Bank now owns 167,100 shares of the company’s stock worth $16,750,000 after purchasing an additional 2,200 shares during the period. Russell Investments Group Ltd. raised its position in Elastic by 993.0% in the 1st quarter. Russell Investments Group Ltd. now owns 17,236 shares of the company’s stock valued at $1,728,000 after purchasing an additional 15,659 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Elastic by 24.6% during the first quarter. ProShare Advisors LLC now owns 2,232 shares of the company’s stock worth $224,000 after buying an additional 441 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Elastic by 0.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 86,920 shares of the company’s stock worth $8,713,000 after buying an additional 678 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Paul R. Auvil III purchased 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $74.25 per share, with a total value of $1,485,000.00. Following the completion of the acquisition, the director now directly owns 22,627 shares of the company’s stock, valued at approximately $1,680,054.75. This trade represents a 700.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Elastic news, CTO Shay Banon sold 2,666 shares of the business’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 $187,286.50. Following the sale, the chief technology officer now directly owns 4,543,190 shares in the company, valued at approximately $319,159,097.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul R. Auvil III acquired 20,000 shares of Elastic stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of $74.25 per share, with a total value of $1,485,000.00. Following the purchase, the director now directly owns 22,627 shares of the company’s stock, valued at approximately $1,680,054.75. This trade represents a 700.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 37,406 shares of company stock valued at $2,627,772 over the last quarter. Corporate insiders own 15.90% of the company’s stock.

Elastic Stock Down 0.2 %

ESTC opened at $89.78 on Wednesday. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06. The business has a 50 day moving average price of $78.82 and a two-hundred day moving average price of $97.70. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75. The company has a market cap of $9.22 billion, a PE ratio of 163.24 and a beta of 0.94.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.35 EPS 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 business had revenue of $347.42 million during the quarter, compared to analysts’ expectations of $344.67 million. During the same quarter in the prior year, the business earned ($0.35) earnings per share. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. As a group, research analysts anticipate that Elastic will post -0.92 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. TD Cowen lowered their price target on shares of Elastic from $110.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 30th. William Blair upgraded shares of Elastic from a “market perform” rating to an “outperform” rating in a research note on Monday, October 14th. Scotiabank cut their price target on Elastic from $135.00 to $92.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 30th. DA Davidson lowered their price objective on Elastic from $100.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, August 30th. Finally, Baird R W lowered Elastic from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Elastic has an average rating of “Moderate Buy” and a consensus price target of $103.71.

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.