Bank of Montreal Can Sells 67,747 Shares of Elastic (NYSE:ESTC)

Bank of Montreal Can trimmed its holdings in Elastic (NYSE:ESTC) by 40.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,714 shares of the company’s stock after selling 67,747 shares during the period. Bank of Montreal Can owned about 0.10% of Elastic worth $11,260,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Asset Dedication LLC lifted its position in Elastic by 1,333.3% in the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after acquiring an additional 280 shares in the last quarter. AlphaCentric Advisors LLC purchased a new position in shares of Elastic during the second quarter valued at approximately $40,000. Lynx Investment Advisory bought a new stake in Elastic during the second quarter worth $43,000. Signaturefd LLC raised its position in Elastic by 44.1% in the 2nd 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, Allspring Global Investments Holdings LLC purchased a new stake in Elastic in the 1st quarter valued at $64,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Stock Down 0.2 %

Shares of NYSE ESTC opened at $77.35 on Monday. The business has a 50-day simple moving average of $93.78 and a two-hundred day simple moving average of $101.94. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06. The company has a market cap of $7.87 billion, a P/E ratio of 145.94 and a beta of 0.94. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ESTC shares. Guggenheim initiated coverage on shares of Elastic in a research note on Wednesday, September 11th. They issued a “buy” rating and a $100.00 target price for the company. Bank of America downgraded Elastic from a “buy” rating to a “neutral” rating and cut their target price for the stock from $140.00 to $94.00 in a research note on Friday, August 30th. DA Davidson dropped their price target on Elastic from $100.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, August 30th. Citigroup boosted their price objective on Elastic from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Jefferies Financial Group decreased their target price on Elastic from $140.00 to $110.00 and set a “buy” rating for the company in a research 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 has an average rating of “Moderate Buy” and an average price target of $103.48.

Insider Transactions at Elastic

In related news, CFO Janesh Moorjani sold 6,941 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 $487,605.25. Following the completion of the sale, the chief financial officer now owns 195,550 shares of the company’s stock, valued at $13,737,387.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Elastic news, CFO Janesh Moorjani sold 6,941 shares of the firm’s 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 sale, the chief financial officer now owns 195,550 shares of the company’s stock, valued at approximately $13,737,387.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Shay Banon sold 2,666 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $187,286.50. Following 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 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. 18.10% of the stock is currently owned by company insiders.

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.