Assenagon Asset Management S.A. Sells 9,037 Shares of Elastic N.V. $ESTC

Key Points

• Assenagon Asset Management S.A. decreased its stock holdings in Elastic N.V. by 1.5%, now owning approximately 595,482 shares valued at $50.2 million as of its latest SEC filing.
• Other large investors, including Bank of New York Mellon Corp, have raised their stakes in Elastic, indicating ongoing interest among institutional investors.
• Elastic's stock has seen a slight decline of 0.5%, with a current market price of $89.16 and an average target price among analysts of $120.00.

Assenagon Asset Management S.A. decreased its position in Elastic N.V. (NYSE:ESTC - Free Report) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 595,482 shares of the company's stock after selling 9,037 shares during the quarter. Assenagon Asset Management S.A. owned about 0.56% of Elastic worth $50,217,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its holdings in Elastic by 5,437.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company's stock worth $203,872,000 after purchasing an additional 2,246,808 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Elastic by 6,651.3% in the 1st quarter. AQR Capital Management LLC now owns 1,403,859 shares of the company's stock worth $122,978,000 after purchasing an additional 1,383,065 shares during the last quarter. RGM Capital LLC lifted its holdings in Elastic by 38.1% in the 1st quarter. RGM Capital LLC now owns 1,197,030 shares of the company's stock worth $106,655,000 after purchasing an additional 330,290 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in Elastic by 1,450.8% in the 1st quarter. Driehaus Capital Management LLC now owns 880,454 shares of the company's stock worth $78,448,000 after purchasing an additional 823,680 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in Elastic by 32.6% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 616,133 shares of the company's stock worth $54,897,000 after purchasing an additional 151,551 shares during the last quarter. Institutional investors own 97.03% of the company's stock.

Insider Transactions at Elastic

In other Elastic news, CTO Shay Banon sold 104,326 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $90.34, for a total value of $9,424,810.84. Following the transaction, the chief technology officer owned 4,363,780 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Also, insider Carolyn Herzog sold 5,143 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $463,487.16. Following the completion of the transaction, the insider directly owned 94,677 shares in the company, valued at $8,532,291.24. The trade was a 5.15% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 349,536 shares of company stock valued at $30,872,136. Corporate insiders own 12.70% of the company's stock.

Elastic Price Performance

Shares of ESTC stock traded down $2.81 during trading hours on Tuesday, hitting $86.25. 642,182 shares of the company's stock were exchanged, compared to its average volume of 1,749,644. The stock's 50-day moving average is $83.82 and its 200-day moving average is $85.50. The stock has a market cap of $9.17 billion, a price-to-earnings ratio of -107.91 and a beta of 1.04. Elastic N.V. has a 52 week low of $70.14 and a 52 week high of $118.84. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.09 and a quick ratio of 2.09.

Analyst Ratings Changes

A number of research analysts have recently commented on ESTC shares. JPMorgan Chase & Co. cut their price target on Elastic from $120.00 to $110.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Robert W. Baird upped their target price on Elastic from $105.00 to $120.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Guggenheim upped their target price on Elastic from $107.00 to $122.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Rosenblatt Securities restated a "buy" rating and issued a $130.00 target price on shares of Elastic in a research note on Friday, August 29th. Finally, Wedbush lowered their price target on Elastic from $135.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus 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.