Susquehanna Fundamental Investments LLC Purchases Shares of 6,000 Elastic (NYSE:ESTC)

Susquehanna Fundamental Investments LLC bought a new position in shares of Elastic (NYSE:ESTC) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 6,000 shares of the company’s stock, valued at approximately $683,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Daventry Group LP raised its position in shares of Elastic by 8.6% during the second quarter. Daventry Group LP now owns 316,975 shares of the company’s stock worth $36,107,000 after acquiring an additional 25,008 shares during the last quarter. AXA S.A. increased its position in Elastic by 8.4% during the 2nd quarter. AXA S.A. now owns 178,542 shares of the company’s stock valued at $20,338,000 after purchasing an additional 13,905 shares during the period. 1832 Asset Management L.P. bought a new position in Elastic during the 2nd quarter worth approximately $248,335,000. ProShare Advisors LLC lifted its position in shares of Elastic by 28.7% in the 2nd quarter. ProShare Advisors LLC now owns 2,873 shares of the company’s stock worth $327,000 after purchasing an additional 641 shares during the period. Finally, Hsbc Holdings PLC lifted its position in shares of Elastic by 23.3% in the 2nd quarter. Hsbc Holdings PLC now owns 15,486 shares of the company’s stock worth $1,772,000 after purchasing an additional 2,927 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ESTC has been the subject of a number of analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Elastic in a research note on Friday, August 30th. Bank of America downgraded Elastic from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $140.00 to $94.00 in a research note on Friday, August 30th. Royal Bank of Canada cut their price target on Elastic from $135.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, August 30th. Scotiabank decreased their price objective on Elastic from $135.00 to $92.00 and set a “sector outperform” rating for the company in a report on Friday, August 30th. Finally, Canaccord Genuity Group lowered their target price on Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $103.48.

Insider Activity at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 19,649 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $1,380,342.25. Following the completion of the sale, the chief executive officer now directly owns 432,648 shares of the company’s stock, valued at $30,393,522. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Elastic news, CEO Ashutosh Kulkarni sold 19,649 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $1,380,342.25. Following the completion of the sale, the chief executive officer now directly owns 432,648 shares of the company’s stock, valued at $30,393,522. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Carolyn Herzog sold 4,489 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $315,352.25. Following the completion of the sale, the insider now directly owns 102,959 shares of the company’s stock, valued at $7,232,869.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,406 shares of company stock valued at $2,627,772. 18.10% of the stock is owned by insiders.

Elastic Stock Performance

Shares of ESTC opened at $76.49 on Thursday. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 144.32 and a beta of 0.94. The stock has a 50 day moving average of $92.20 and a 200 day moving average of $101.57. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06.

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