Principal Financial Group Inc. Sells 11,619 Shares of Elastic (NYSE:ESTC)

Principal Financial Group Inc. decreased its position in Elastic (NYSE:ESTC) by 13.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 75,564 shares of the company’s stock after selling 11,619 shares during the period. Principal Financial Group Inc. owned about 0.07% of Elastic worth $8,607,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB bought a new stake in Elastic in the 1st quarter worth $3,104,000. Toronto Dominion Bank purchased a new position in Elastic during the 1st quarter valued at about $5,780,000. Quantbot Technologies LP raised its position in Elastic by 165.2% during the 1st quarter. Quantbot Technologies LP now owns 12,921 shares of the company’s stock valued at $1,295,000 after purchasing an additional 8,048 shares during the last quarter. CenterBook Partners LP lifted its holdings in Elastic by 13.1% in the 4th quarter. CenterBook Partners LP now owns 27,985 shares of the company’s stock worth $3,154,000 after buying an additional 3,245 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew 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 buying an additional 15,514 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Insiders Place Their Bets

In other news, Director Paul R. Auvil III purchased 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $74.25 per share, for a total transaction of $1,485,000.00. Following the purchase, the director now directly owns 22,627 shares in the company, valued at approximately $1,680,054.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Elastic news, Director Paul R. Auvil III purchased 20,000 shares of Elastic stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average price of $74.25 per share, with a total value of $1,485,000.00. Following the transaction, 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 document filed with the SEC, which is available through this link. Also, CFO Janesh Moorjani sold 10,011 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $109.90, for a total transaction of $1,100,208.90. Following the sale, the chief financial officer now owns 202,491 shares of the company’s stock, valued at $22,253,760.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 351,855 shares of company stock valued at $38,243,644. Company insiders own 18.10% of the company’s stock.

Elastic Price Performance

Shares of NYSE ESTC opened at $70.14 on Friday. The firm has a market cap of $7.13 billion, a P/E ratio of 132.34 and a beta of 0.94. Elastic has a twelve month low of $69.66 and a twelve month high of $136.06. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average of $105.88 and a 200 day moving average of $106.41.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.10. Elastic had a negative return on equity of 18.41% and a net margin of 4.62%. The firm had revenue of $347.42 million for the quarter, compared to the consensus estimate of $344.67 million. During the same period in the prior year, the company posted ($0.35) earnings per share. The company’s quarterly revenue was up 18.3% on a year-over-year basis. As a group, research analysts expect that Elastic will post -1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on ESTC. Wells Fargo & Company decreased their target price on Elastic from $145.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Jefferies Financial Group cut their target price on shares of Elastic from $140.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Royal Bank of Canada decreased their price target on shares of Elastic from $135.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, August 30th. DA Davidson cut their price objective on Elastic from $100.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, August 30th. Finally, TD Cowen decreased their target price on Elastic from $110.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 30th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $104.45.

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.