Assetmark Inc. Has $1.22 Million Stock Position in Elastic N.V. (NYSE:ESTC)

Key Points

• Assetmark Inc. increased its stake in Elastic N.V. by 66.6% in Q1, owning 13,721 shares worth approximately $1.22 million.
• Several hedge funds, including Massachusetts Financial Services Co., significantly boosted their holdings in Elastic, with increases up to 5,437.6%.
• Elastic's stock received mixed ratings from analysts, with price targets ranging from $100 to $120 and a consensus rating of "Moderate Buy."

Assetmark Inc. boosted its position in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 66.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,721 shares of the company's stock after purchasing an additional 5,487 shares during the period. Assetmark Inc.'s holdings in Elastic were worth $1,223,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new position in Elastic during the 1st quarter worth $25,000. Fourth Dimension Wealth LLC acquired a new position in shares of Elastic in the 4th quarter valued at about $26,000. Signaturefd LLC boosted its holdings 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 buying an additional 117 shares during the period. North Capital Inc. acquired a new position in shares of Elastic in the 1st quarter valued at about $37,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Elastic by 134.6% in the 1st quarter. GAMMA Investing LLC now owns 570 shares of the company's stock valued at $51,000 after buying an additional 327 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Elastic Trading Up 1.1%

Shares of Elastic stock traded up $0.88 during trading on Monday, hitting $80.46. The stock had a trading volume of 1,370,322 shares, compared to its average volume of 1,648,852. The stock has a 50 day simple moving average of $85.37 and a 200 day simple moving average of $92.10. The company has a market capitalization of $8.49 billion, a PE ratio of -76.63 and a beta of 1.07. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.61. Elastic N.V. has a 1 year low of $69.00 and a 1 year high of $118.84.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.47 EPS 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 the consensus estimate of $380.61 million. During the same period in the previous year, the firm posted $0.21 earnings per share. The firm's revenue was up 15.9% on a year-over-year basis. On average, research analysts expect that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on ESTC. Guggenheim decreased their price target on shares of Elastic from $136.00 to $107.00 and set a "buy" rating for the company in a report on Friday, May 30th. Robert W. Baird decreased their price target on shares of Elastic from $125.00 to $115.00 and set an "outperform" rating for the company in a report on Friday, May 30th. Morgan Stanley decreased their price target on shares of Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Canaccord Genuity Group decreased their price target on shares of Elastic from $135.00 to $110.00 and set a "buy" rating for the company in a report on Monday, June 2nd. Finally, Wall Street Zen raised shares of Elastic from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $112.72.

Insider Transactions at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 22,901 shares of Elastic stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $1,990,325.91. Following the completion of the sale, the chief executive officer directly owned 454,841 shares in the company, valued at $39,530,231.31. The trade was a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ken Exner sold 6,918 shares of Elastic 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 $601,243.38. Following the completion of the sale, the insider owned 230,494 shares of the company's stock, valued at $20,032,233.54. This trade represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,913 shares of company stock valued at $4,416,324. Insiders own 15.90% of the company's stock.

Elastic 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.