Dark Forest Capital Management LP Sells 105,102 Shares of Elastic (NYSE:ESTC)

Dark Forest Capital Management LP decreased its position in shares of Elastic (NYSE:ESTC) by 92.9% during the second quarter, Holdings Channel.com reports. The fund owned 8,024 shares of the company’s stock after selling 105,102 shares during the quarter. Dark Forest Capital Management LP’s holdings in Elastic were worth $914,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Asset Dedication LLC raised its position in shares of Elastic by 1,333.3% during the second quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after buying an additional 280 shares during the last quarter. AlphaCentric Advisors LLC bought a new stake in shares of Elastic during the second quarter valued at approximately $40,000. Lynx Investment Advisory bought a new stake in shares of Elastic during the second quarter valued at approximately $43,000. Signaturefd LLC raised its position in shares of Elastic by 44.1% during the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after buying an additional 119 shares during the last quarter. Finally, Headlands Technologies LLC raised its position in shares of Elastic by 75.4% during the second quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock valued at $72,000 after buying an additional 270 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Insider Buying and Selling at Elastic

In related news, CTO Shay Banon sold 2,666 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were 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 directly owns 4,543,190 shares of the company’s stock, valued at approximately $319,159,097.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Elastic 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 shares were bought at an average price of $74.25 per share, for a total transaction of $1,485,000.00. Following the acquisition, the director now owns 22,627 shares in the company, valued at $1,680,054.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Shay Banon sold 2,666 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $187,286.50. Following the completion of the transaction, the chief technology officer now owns 4,543,190 shares in the company, valued at approximately $319,159,097.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,406 shares of company stock valued at $2,627,772. 18.10% of the stock is currently owned by insiders.

Elastic Stock Down 0.9 %

NYSE:ESTC opened at $77.58 on Friday. Elastic has a 1-year low of $69.00 and a 1-year high of $136.06. The company has a 50-day moving average of $94.47 and a 200 day moving average of $102.18. The firm has a market cap of $7.97 billion, a PE ratio of 146.38 and a beta of 0.94. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.25 by $0.10. The business had revenue of $347.42 million during the quarter, compared to analyst estimates of $344.67 million. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The company’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.35) earnings per share. As a group, research analysts anticipate that Elastic will post -0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ESTC has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a research report on Friday, August 30th. Stifel Nicolaus cut their target price on shares of Elastic from $120.00 to $98.00 and set a “buy” rating for the company in a report on Friday, August 30th. Scotiabank cut 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. Citigroup raised their target price on shares of Elastic from $155.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Oppenheimer cut their target price on shares of Elastic from $150.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, August 30th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Elastic presently has a consensus rating of “Moderate Buy” and an average price target of $103.48.

About Elastic

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.