Allianz Asset Management GmbH Increases Stake in Elastic N.V. (NYSE:ESTC)

Allianz Asset Management GmbH grew its stake in Elastic N.V. (NYSE:ESTC - Free Report) by 325.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 309,593 shares of the company's stock after purchasing an additional 236,742 shares during the quarter. Allianz Asset Management GmbH owned about 0.30% of Elastic worth $27,619,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new position in Elastic in the 1st quarter worth $25,000. Fourth Dimension Wealth LLC bought a new position in shares of Elastic in the 4th quarter worth about $26,000. Signaturefd LLC increased its stake in shares of Elastic by 53.7% in the 1st 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. bought a new position in shares of Elastic in the 1st quarter worth about $37,000. Finally, GAMMA Investing LLC increased its stake in shares of Elastic by 134.6% in the 1st quarter. GAMMA Investing LLC now owns 570 shares of the company's stock worth $51,000 after acquiring an additional 327 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Canaccord Genuity Group decreased their price target on shares of Elastic from $135.00 to $110.00 and set a "buy" rating for the company in a research note on Monday, June 2nd. Oppenheimer reduced their price objective on shares of Elastic from $120.00 to $100.00 and set an "outperform" rating for the company in a research note on Monday. KeyCorp initiated coverage on shares of Elastic in a research note on Tuesday, June 10th. They set a "sector weight" rating for the company. Scotiabank reduced their price objective on shares of Elastic from $137.00 to $95.00 and set a "sector outperform" rating for the company in a research note on Friday, May 30th. Finally, Monness Crespi & Hardt upgraded shares of Elastic from a "neutral" rating to a "buy" rating and set a $111.00 price objective for the company in a research note on Friday, June 27th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Elastic presently has a consensus rating of "Moderate Buy" and an average price target of $112.72.

Insider Activity

In related news, CRO Mark Eugene Dodds sold 2,500 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $83.50, for a total value of $208,750.00. Following the completion of the sale, the executive directly owned 172,321 shares of the company's stock, valued at $14,388,803.50. This represents a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ashutosh Kulkarni sold 22,901 shares of the stock in a transaction dated 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. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 50,913 shares of company stock valued at $4,416,324. Insiders own 15.90% of the company's stock.

Elastic Trading Up 2.2%

ESTC stock traded up $1.94 during mid-day trading on Thursday, reaching $88.93. 1,101,495 shares of the stock traded hands, compared to its average volume of 1,244,014. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.92 and a current ratio of 1.92. Elastic N.V. has a one year low of $69.00 and a one year high of $118.84. The stock has a market capitalization of $9.39 billion, a PE ratio of -84.69 and a beta of 1.07. The business has a 50-day moving average price of $86.15 and a two-hundred day moving average price of $92.76.

Elastic (NYSE:ESTC - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.10. The firm had revenue of $388.43 million during the quarter, compared to analyst estimates of $380.61 million. Elastic had a negative net margin of 7.29% and a negative return on equity of 4.46%. The business's revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 earnings per share. Equities research analysts expect that Elastic N.V. will post -0.77 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.