Elastic (NYSE:ESTC) Holdings Raised by Cwm LLC

Cwm LLC boosted its holdings in Elastic (NYSE:ESTC) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,635 shares of the company’s stock after acquiring an additional 706 shares during the quarter. Cwm LLC’s holdings in Elastic were worth $2,045,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ESTC. Asset Dedication LLC raised its position in Elastic by 1,333.3% in the second quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after acquiring an additional 280 shares in the last quarter. AlphaCentric Advisors LLC acquired a new stake in Elastic during the 2nd quarter worth about $40,000. Quarry LP acquired a new stake in Elastic during the 2nd quarter worth about $40,000. Lynx Investment Advisory acquired a new stake in Elastic during the 2nd quarter worth about $43,000. Finally, Signaturefd LLC raised its holdings in Elastic by 44.1% during the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after buying an additional 119 shares during the period. 97.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Scotiabank cut their price objective on Elastic from $135.00 to $92.00 and set a “sector outperform” rating on the stock in a report on Friday, August 30th. Robert W. Baird downgraded Elastic from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $135.00 to $95.00 in a report on Friday, August 30th. TD Cowen lowered their target price on Elastic from $110.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Guggenheim assumed coverage on Elastic in a research note on Wednesday, September 11th. They set a “buy” rating and a $100.00 target price on the stock. Finally, Bank of America cut Elastic from a “buy” rating to a “neutral” rating and lowered their target price for the company from $140.00 to $94.00 in a research note on Friday, August 30th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Elastic currently has an average rating of “Moderate Buy” and a consensus target price of $103.71.

Insider Activity at Elastic

In related news, CFO Janesh Moorjani sold 6,941 shares of the company’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 $487,605.25. Following the completion of the transaction, the chief financial officer now directly owns 195,550 shares in the company, valued at approximately $13,737,387.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Elastic news, insider Carolyn Herzog sold 4,489 shares of the company’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 sale, the insider now directly owns 102,959 shares in the company, valued at $7,232,869.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Janesh Moorjani sold 6,941 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $487,605.25. Following the completion of the sale, the chief financial officer now owns 195,550 shares in the company, valued at $13,737,387.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,406 shares of company stock worth $2,627,772. 18.10% of the stock is owned by corporate insiders.

Elastic Stock Up 0.1 %

ESTC opened at $83.10 on Tuesday. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06. The firm has a market cap of $8.45 billion, a P/E ratio of 156.79 and a beta of 0.94. The business has a 50 day moving average price of $86.97 and a 200 day moving average price of $100.17. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 1.91.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. The company had revenue of $347.42 million during the quarter, compared to analyst estimates of $344.67 million. During the same period in the previous year, the company earned ($0.35) earnings per share. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. Research analysts forecast that Elastic will post -0.91 EPS for the current year.

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.