Assetmark Inc. Grows Holdings in Elastic (NYSE:ESTC)

Assetmark Inc. increased its holdings in Elastic (NYSE:ESTC) by 28,132.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,905 shares of the company’s stock after purchasing an additional 7,877 shares during the period. Assetmark Inc.’s holdings in Elastic were worth $607,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank bought a new stake in Elastic during the 1st quarter worth approximately $5,780,000. Interval Partners LP purchased a new position in Elastic during the first quarter worth $1,704,000. Russell Investments Group Ltd. boosted its stake in shares of Elastic by 993.0% during the first 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 during the period. WD Rutherford LLC purchased a new stake in shares of Elastic during the second quarter valued at $422,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Elastic in the second quarter valued at about $102,169,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on ESTC shares. Scotiabank reduced their target price 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. TD Cowen decreased their target price on Elastic from $110.00 to $80.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. Barclays increased their price objective on Elastic from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday. Truist Financial cut their target price on Elastic from $140.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Finally, Citigroup increased their price target on Elastic from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Elastic currently has a consensus rating of “Moderate Buy” and an average price target of $104.19.

Insiders Place Their Bets

In other news, Director Paul R. Auvil III purchased 20,000 shares of the business’s stock in a transaction 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 acquisition, the director now directly owns 22,627 shares in the company, valued at approximately $1,680,054.75. This trade represents a 761.32 % increase in their ownership of the stock. The purchase 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 Elastic 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 completion of the transaction, the insider now owns 102,959 shares in the company, valued at approximately $7,232,869.75. The trade was a 4.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,406 shares of company stock valued at $2,627,772. 15.90% of the stock is currently owned by insiders.

Elastic Stock Down 3.2 %

NYSE:ESTC opened at $86.36 on Friday. The stock’s fifty day moving average price is $79.81 and its two-hundred day moving average price is $97.47. 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 cap of $8.87 billion, a price-to-earnings ratio of 157.02 and a beta of 0.94. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06.

Elastic (NYSE:ESTC) last announced its quarterly earnings data 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 company had revenue of $347.42 million during 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%. Elastic’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.35) EPS. On average, analysts anticipate that Elastic will post -0.92 EPS for the current 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.