Elastic N.V. (NYSE:ESTC) Shares Sold by Archford Capital Strategies LLC

Archford Capital Strategies LLC reduced its stake in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 62.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,182 shares of the company's stock after selling 5,389 shares during the period. Archford Capital Strategies LLC's holdings in Elastic were worth $284,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in shares of Elastic during the 4th quarter worth approximately $25,000. Fourth Dimension Wealth LLC acquired a new position in shares of Elastic during the 4th quarter worth approximately $26,000. Venturi Wealth Management LLC boosted its holdings in shares of Elastic by 793.3% during the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock worth $27,000 after purchasing an additional 238 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock valued at $28,000 after acquiring an additional 158 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in Elastic by 1,065.2% in the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock valued at $53,000 after acquiring an additional 490 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Stock Up 0.2%

Shares of Elastic stock traded up $0.14 during trading hours on Friday, reaching $82.75. 1,641,221 shares of the company were exchanged, compared to its average volume of 1,534,575. Elastic N.V. has a 1 year low of $69.00 and a 1 year high of $123.96. The stock's fifty day moving average is $85.73 and its 200 day moving average is $94.73. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a market cap of $8.73 billion, a PE ratio of -78.81 and a beta of 1.07.

Elastic (NYSE:ESTC - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.10. Elastic had a negative return on equity of 4.46% and a negative net margin of 7.29%. The business had revenue of $388.43 million for the quarter, compared to analyst estimates of $380.61 million. During the same quarter in the prior year, the company earned $0.21 earnings per share. The company's revenue was up 15.9% on a year-over-year basis. As a group, equities research analysts forecast that Elastic N.V. will post -0.77 earnings per share for the current year.

Insider Buying and Selling at Elastic

In other Elastic news, CTO Shay Banon sold 5,117 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $444,718.47. Following the sale, the chief technology officer now directly owns 4,560,291 shares in the company, valued at $396,334,890.81. This trade represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carolyn Herzog sold 5,702 shares of the firm'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 $495,560.82. Following the completion of the sale, the insider now owns 93,985 shares in the company, valued at approximately $8,168,236.35. This represents a 5.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,913 shares of company stock worth $4,416,324 over the last ninety days. Corporate insiders own 15.90% of the company's stock.

Wall Street Analyst Weigh In

ESTC has been the topic of a number of recent analyst reports. Monness Crespi & Hardt upgraded Elastic from a "neutral" rating to a "buy" rating and set a $111.00 price objective on the stock in a report on Friday. Wall Street Zen upgraded Elastic from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Robert W. Baird decreased their price objective on Elastic from $125.00 to $115.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. Rosenblatt Securities decreased their price objective on Elastic from $140.00 to $130.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Finally, DA Davidson decreased their price objective on Elastic from $115.00 to $75.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Eight analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Elastic presently has a consensus rating of "Moderate Buy" and an average target price of $113.52.

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.