Amundi Sells 276,984 Shares of Elastic N.V. $ESTC

Amundi lessened its position in Elastic N.V. (NYSE:ESTC - Free Report) by 33.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 555,486 shares of the company's stock after selling 276,984 shares during the period. Amundi owned about 0.53% of Elastic worth $45,667,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Signaturefd LLC grew its position in shares of Elastic by 53.7% in the 1st quarter. Signaturefd LLC now owns 335 shares of the company's stock valued at $30,000 after acquiring an additional 117 shares during the period. Parallel Advisors LLC lifted its stake in shares of Elastic by 4.5% during the 1st quarter. Parallel Advisors LLC now owns 3,396 shares of the company's stock worth $303,000 after buying an additional 145 shares during the last quarter. Y.D. More Investments Ltd lifted its stake in shares of Elastic by 0.5% during the 1st quarter. Y.D. More Investments Ltd now owns 29,742 shares of the company's stock worth $2,756,000 after buying an additional 145 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Elastic by 53.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company's stock worth $40,000 after buying an additional 152 shares during the last quarter. Finally, WCM Investment Management LLC lifted its stake in shares of Elastic by 0.7% during the 1st quarter. WCM Investment Management LLC now owns 23,811 shares of the company's stock worth $2,183,000 after buying an additional 169 shares during the last quarter. Institutional investors own 97.03% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ESTC. UBS Group raised their target price on shares of Elastic from $95.00 to $125.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Canaccord Genuity Group raised their target price on shares of Elastic from $110.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Stifel Nicolaus raised their target price on shares of Elastic from $112.00 to $134.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Jefferies Financial Group lifted their price objective on shares of Elastic from $110.00 to $125.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Finally, Cowen reiterated a "hold" rating on shares of Elastic in a research note on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $120.00.

Insider Transactions at Elastic

In other news, CTO Shay Banon sold 104,326 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $90.34, for a total transaction of $9,424,810.84. Following the completion of the sale, the chief technology officer directly owned 4,363,780 shares in the company, valued at $394,223,885.20. This represents a 2.33% 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 19,622 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total transaction of $1,768,334.64. Following the sale, the chief executive officer owned 457,314 shares of the company's stock, valued at approximately $41,213,137.68. This trade represents a 4.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 347,036 shares of company stock worth $30,640,286. 12.70% of the stock is currently owned by insiders.

Elastic Price Performance

Shares of Elastic stock traded down $0.60 during midday trading on Friday, hitting $88.46. 278,930 shares of the company traded hands, compared to its average volume of 1,749,832. The stock has a market cap of $9.40 billion, a price-to-earnings ratio of -110.58 and a beta of 1.04. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.09 and a current ratio of 2.09. The firm's fifty day moving average price is $83.48 and its 200-day moving average price is $86.56. Elastic N.V. has a 12 month low of $70.14 and a 12 month high of $118.84.

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.