Blue Trust Inc. Acquires 452 Shares of Elastic (NYSE:ESTC)

Blue Trust Inc. boosted its holdings in shares of Elastic (NYSE:ESTC) by 21.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,582 shares of the company’s stock after purchasing an additional 452 shares during the period. Blue Trust Inc.’s holdings in Elastic were worth $198,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ESTC. Asset Dedication LLC increased its stake in shares of Elastic by 1,333.3% in 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 in the last quarter. AlphaCentric Advisors LLC bought a new stake in Elastic during the 2nd quarter worth about $40,000. Quarry LP acquired a new stake in Elastic in the 2nd quarter valued at about $40,000. Lynx Investment Advisory bought a new position in shares of Elastic in the second quarter worth about $43,000. Finally, Signaturefd LLC lifted its position in shares of Elastic by 44.1% during the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Insiders Place Their Bets

In related news, Director Paul R. Auvil III purchased 20,000 shares of Elastic stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $74.25 per share, for a total transaction of $1,485,000.00. Following the completion of the acquisition, the director now directly owns 22,627 shares of the company’s stock, valued at $1,680,054.75. This represents a 700.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Paul R. Auvil III acquired 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $74.25 per share, with a total value of $1,485,000.00. Following the transaction, the director now owns 22,627 shares of the company’s stock, valued at $1,680,054.75. The trade was a 700.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 2,666 shares of the 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 owns 4,543,190 shares of the company’s stock, valued at approximately $319,159,097.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,406 shares of company stock worth $2,627,772. Company insiders own 18.10% of the company’s stock.

Elastic Stock Performance

Shares of Elastic stock opened at $79.35 on Friday. The stock’s fifty day simple moving average is $82.52 and its 200 day simple moving average is $99.01. 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 $8.07 billion, a PE ratio of 149.72 and a beta of 0.94. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06.

Elastic (NYSE:ESTC) last released 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 for the quarter, compared to analyst estimates of $344.67 million. During the same quarter last year, the firm posted ($0.35) earnings per share. Elastic’s revenue was up 18.3% compared to the same quarter last year. On average, research analysts predict that Elastic will post -0.91 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ESTC shares. Truist Financial lowered their price target on shares of Elastic from $140.00 to $105.00 and set a “buy” rating for the company in a report on Friday, August 30th. Oppenheimer lowered their target price on Elastic from $150.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, August 30th. Piper Sandler dropped their target price on Elastic from $131.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Royal Bank of Canada decreased 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. Finally, Robert W. Baird lowered Elastic from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $135.00 to $95.00 in a research report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Elastic currently has an average rating of “Moderate Buy” and an average target price of $103.71.

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.