Assenagon Asset Management S.A. Buys 349,507 Shares of Elastic (NYSE:ESTC)

Assenagon Asset Management S.A. boosted its position in Elastic (NYSE:ESTC - Free Report) by 137.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 604,519 shares of the company's stock after purchasing an additional 349,507 shares during the quarter. Assenagon Asset Management S.A. owned about 0.58% of Elastic worth $53,863,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ESTC. SBI Securities Co. Ltd. purchased a new position in Elastic in the 4th quarter worth approximately $25,000. Fourth Dimension Wealth LLC bought a new position in Elastic during the 4th quarter worth $26,000. Venturi Wealth Management LLC increased its holdings in shares of Elastic by 793.3% during the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock valued at $27,000 after purchasing an additional 238 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock valued at $28,000 after purchasing an additional 158 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in shares of Elastic by 1,065.2% during the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock valued at $53,000 after purchasing an additional 490 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

Elastic Trading Down 4.7%

NYSE:ESTC traded down $3.93 during trading hours on Friday, hitting $79.32. 2,595,142 shares of the company were exchanged, compared to its average volume of 1,507,262. The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of 144.22 and a beta of 1.07. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a one year low of $69.00 and a one year high of $123.96. The company has a fifty day simple moving average of $85.02 and a 200 day simple moving average of $96.83.

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 the consensus estimate of $0.37 by $0.10. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The firm had revenue of $388.43 million during the quarter, compared to analyst estimates of $380.61 million. During the same period last year, the company posted $0.21 EPS. The business's quarterly revenue was up 15.9% on a year-over-year basis. Sell-side analysts expect that Elastic will post -0.77 EPS for the current fiscal year.

Insider Transactions at Elastic

In other Elastic news, CFO Navam Welihinda sold 2,261 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $196,503.51. Following the completion of the transaction, the chief financial officer now owns 133,925 shares of the company's stock, valued at approximately $11,639,421.75. This trade represents a 1.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total transaction of $513,200.00. Following the sale, the chief executive officer now directly owns 371,591 shares of the company's stock, valued at $38,140,100.24. This trade represents a 1.33% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,413 shares of company stock valued at $4,720,774. 15.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ESTC has been the subject of several research reports. Cantor Fitzgerald decreased their target price on Elastic from $109.00 to $92.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Canaccord Genuity Group cut their price target on Elastic from $135.00 to $110.00 and set a "buy" rating for the company in a research note on Monday, June 2nd. Stifel Nicolaus cut their price objective on Elastic from $140.00 to $112.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Scotiabank dropped their price target on Elastic from $137.00 to $95.00 and set a "sector outperform" rating on the stock in a research report on Friday, May 30th. Finally, 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. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $113.63.

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.