5,425 Shares in Elastic N.V. $ESTC Purchased by Focus Partners Advisor Solutions LLC

Key Points

• Focus Partners Advisor Solutions LLC has acquired 5,425 shares of Elastic N.V. valued at approximately $484,000, according to their recent SEC filing.
• Several hedge funds significantly increased their stakes in Elastic N.V. in the first quarter, with notable increases from Royal Bank of Canada (81.4%) and Panagora Asset Management (1,073.5%).
• Elastic's stock performance has seen fluctuations, currently trading at $86.67 with a twelve-month high of $118.84 and a market cap of $9.21 billion.

Focus Partners Advisor Solutions LLC acquired a new position in shares of Elastic N.V. (NYSE:ESTC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,425 shares of the company's stock, valued at approximately $484,000.

Several other hedge funds have also bought and sold shares of ESTC. Royal Bank of Canada lifted its stake in shares of Elastic by 81.4% in the first quarter. Royal Bank of Canada now owns 372,425 shares of the company's stock worth $33,183,000 after buying an additional 167,123 shares in the last quarter. Graham Capital Management L.P. lifted its stake in shares of Elastic by 139.8% in the first quarter. Graham Capital Management L.P. now owns 43,055 shares of the company's stock worth $3,836,000 after buying an additional 25,100 shares in the last quarter. Ardmore Road Asset Management LP lifted its stake in shares of Elastic by 40.0% in the first quarter. Ardmore Road Asset Management LP now owns 210,000 shares of the company's stock worth $18,711,000 after buying an additional 60,000 shares in the last quarter. Baird Financial Group Inc. lifted its stake in shares of Elastic by 225.6% in the first quarter. Baird Financial Group Inc. now owns 143,009 shares of the company's stock worth $12,742,000 after buying an additional 99,082 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in shares of Elastic by 1,073.5% in the first quarter. Panagora Asset Management Inc. now owns 229,533 shares of the company's stock worth $20,451,000 after buying an additional 209,974 shares in the last quarter. Institutional investors own 97.03% of the company's stock.

Insider Buying and Selling at Elastic

In other Elastic news, CRO Mark Eugene Dodds sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $83.50, for a total transaction of $208,750.00. Following the completion of the sale, the executive directly owned 172,321 shares of the company's stock, valued at approximately $14,388,803.50. This represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ashutosh Kulkarni sold 22,901 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $1,990,325.91. Following the sale, the chief executive officer directly owned 454,841 shares of the company's stock, valued at approximately $39,530,231.31. This represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,913 shares of company stock valued at $4,416,324 in the last quarter. Insiders own 12.70% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ESTC. JPMorgan Chase & Co. dropped their target price on shares of Elastic from $120.00 to $110.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. Mizuho upped their target price on shares of Elastic from $100.00 to $119.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Wall Street Zen upgraded shares of Elastic from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Piper Sandler increased their price objective on shares of Elastic from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Finally, Barclays increased their price objective on shares of Elastic from $105.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.00.

Elastic Stock Up 2.3%

Shares of Elastic stock opened at $86.67 on Friday. Elastic N.V. has a twelve month low of $69.00 and a twelve month high of $118.84. The company has a market cap of $9.21 billion, a price-to-earnings ratio of -108.34 and a beta of 1.04. The company has a quick ratio of 1.92, a current ratio of 2.09 and a debt-to-equity ratio of 0.59. The company's 50 day moving average is $83.04 and its 200 day moving average is $87.05.

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.

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