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

Archford Capital Strategies LLC reduced its position in Elastic N.V. (NYSE:ESTC - Free Report) by 62.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sylebra Capital LLC increased its position in Elastic by 62.6% during the 4th quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock valued at $451,950,000 after buying an additional 1,756,842 shares in the last quarter. Norges Bank purchased a new stake in shares of Elastic during the fourth quarter worth about $102,485,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Elastic by 5,972.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company's stock valued at $73,751,000 after acquiring an additional 732,100 shares in the last quarter. Marshall Wace LLP raised its position in shares of Elastic by 554.9% in the 4th quarter. Marshall Wace LLP now owns 641,041 shares of the company's stock valued at $63,514,000 after purchasing an additional 543,155 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in Elastic in the 4th quarter worth approximately $46,031,000. Hedge funds and other institutional investors own 97.03% of the company's stock.

Insider Buying and Selling

In other news, CEO Ashutosh Kulkarni sold 22,901 shares of Elastic stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $1,990,325.91. Following the transaction, the chief executive officer now owns 454,841 shares in the company, valued at $39,530,231.31. The trade was a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Navam Welihinda sold 2,261 shares of the company'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 $196,503.51. Following the transaction, the chief financial officer now owns 133,925 shares in the company, valued at $11,639,421.75. This trade represents a 1.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,913 shares of company stock worth $4,416,324. 15.90% of the stock is owned by corporate insiders.

Elastic Price Performance

Elastic stock traded up $0.14 during trading on Friday, reaching $82.75. The company had a trading volume of 1,641,221 shares, compared to its average volume of 1,533,789. The firm has a market capitalization of $8.73 billion, a PE ratio of -78.81 and a beta of 1.07. The firm's 50-day simple moving average is $85.73 and its 200 day simple moving average is $94.90. 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 1-year low of $69.00 and a 1-year high of $123.96.

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

Wall Street Analyst Weigh In

ESTC has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their price target on shares of Elastic from $125.00 to $110.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Robert W. Baird cut their target price on Elastic from $125.00 to $115.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. Monness Crespi & Hardt raised Elastic from a "neutral" rating to a "buy" rating and set a $111.00 price target for the company in a research report on Friday. Stifel Nicolaus dropped their price target on Elastic from $140.00 to $112.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Finally, Wall Street Zen upgraded Elastic from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Elastic presently has an average rating of "Moderate Buy" and an average price target of $113.52.

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.