Advent International L.P. Purchases 3,720 Shares of Elastic N.V. $ESTC

Key Points

• Advent International L.P. increased its stake in Elastic N.V. by 1.4%, now owning approximately 262,436 shares valued at about $23.4 million, making it the 16th largest position in its portfolio.
• Other institutional investors, such as Sylebra Capital LLC and Massachusetts Financial Services Co. MA, have significantly raised their holdings in Elastic, with Sylebra Capital increasing its shares by 62.6%.
• Analysts have varied views on Elastic, with price targets ranging from $105.00 to $120.20, indicating a “Moderate Buy” rating based on the average target.

Advent International L.P. lifted its position in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 1.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 262,436 shares of the company's stock after acquiring an additional 3,720 shares during the period. Elastic accounts for 0.7% of Advent International L.P.'s portfolio, making the stock its 16th biggest holding. Advent International L.P. owned about 0.25% of Elastic worth $23,383,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new position in shares of Elastic during the 4th quarter valued at $26,000. Cloud Capital Management LLC acquired a new position in shares of Elastic in the first quarter worth $25,000. Signaturefd LLC raised its holdings in shares of Elastic by 53.7% during the first quarter. Signaturefd LLC now owns 335 shares of the company's stock worth $30,000 after acquiring an additional 117 shares in the last quarter. North Capital Inc. acquired a new position in Elastic in the 1st quarter worth about $37,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Elastic by 53.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company's stock valued at $40,000 after buying an additional 152 shares during the last quarter. Institutional investors own 97.03% of the company's stock.

Elastic Stock Performance

NYSE ESTC traded up $1.96 during midday trading on Friday, hitting $86.67. The company had a trading volume of 2,260,284 shares, compared to its average volume of 2,311,115. The firm has a fifty day simple moving average of $83.04 and a two-hundred day simple moving average of $86.88. The stock 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. Elastic N.V. has a fifty-two week low of $69.00 and a fifty-two week high of $118.84.

Insider Transactions at Elastic

In related news, insider Ken Exner sold 6,918 shares of Elastic stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $601,243.38. Following the completion of the transaction, the insider directly owned 230,494 shares of the company's stock, valued at $20,032,233.54. The trade was a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ashutosh Kulkarni sold 22,901 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $1,990,325.91. Following the transaction, the chief executive officer directly owned 454,841 shares in the company, valued at $39,530,231.31. This trade represents a 4.79% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,913 shares of company stock worth $4,416,324. 12.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on ESTC shares. Oppenheimer reiterated an "outperform" rating on shares of Elastic in a research note on Friday, August 29th. Jefferies Financial Group raised their price target on shares of Elastic from $110.00 to $125.00 and gave the company a "buy" rating in a report on Friday, August 29th. Wall Street Zen upgraded shares of Elastic from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Cowen restated a "hold" rating on shares of Elastic in a report on Friday, August 29th. Finally, Zacks Research downgraded Elastic from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $120.00.

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.