Elastic N.V. (NYSE:ESTC) Shares Sold by Baader Bank Aktiengesellschaft

Key Points

• Baader Bank Aktiengesellschaft reduced its stake in Elastic N.V. by 54.5%, selling 12,000 shares and bringing its total holdings down to 10,000 shares worth approximately $891,000.
• Several institutional investors have made significant adjustments to their positions in Elastic, with Bayforest Capital Ltd notably increasing its holdings by 542.8% during the first quarter.
• Elastic reported earnings of $0.47 per share for the last quarter, exceeding the consensus estimate, and its revenue grew by 15.9% compared to the prior year.

Baader Bank Aktiengesellschaft reduced its position in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 54.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,000 shares of the company's stock after selling 12,000 shares during the period. Baader Bank Aktiengesellschaft's holdings in Elastic were worth $891,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Thrivent Financial for Lutherans increased its stake in Elastic by 187.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 9,073 shares of the company's stock valued at $899,000 after purchasing an additional 5,919 shares during the last quarter. LPL Financial LLC increased its stake in Elastic by 28.8% during the fourth quarter. LPL Financial LLC now owns 25,832 shares of the company's stock valued at $2,559,000 after purchasing an additional 5,775 shares during the last quarter. Norges Bank bought a new stake in Elastic during the fourth quarter valued at $102,485,000. Geode Capital Management LLC increased its stake in Elastic by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company's stock valued at $142,663,000 after purchasing an additional 45,076 shares during the last quarter. Finally, Cinctive Capital Management LP grew its position in shares of Elastic by 1,876.3% during the fourth quarter. Cinctive Capital Management LP now owns 79,051 shares of the company's stock worth $7,832,000 after acquiring an additional 75,051 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ESTC shares. Cantor Fitzgerald cut their price target on shares of Elastic from $109.00 to $92.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Scotiabank reduced their price objective on shares of Elastic from $137.00 to $95.00 and set a "sector outperform" rating for the company in a research note on Friday, May 30th. Wedbush reduced their price objective on shares of Elastic from $135.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. Wall Street Zen raised shares of Elastic from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, Wells Fargo & Company reduced their price objective on shares of Elastic from $150.00 to $120.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Eight analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Elastic currently has a consensus rating of "Moderate Buy" and an average price target of $112.72.

Insider Activity

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

Elastic Stock Performance

Elastic stock traded down $4.07 during trading on Friday, reaching $79.63. The company had a trading volume of 1,221,653 shares, compared to its average volume of 1,137,408. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.61. The firm's 50-day simple moving average is $85.37 and its 200 day simple moving average is $92.16. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of -75.84 and a beta of 1.07. Elastic N.V. has a 52 week low of $69.00 and a 52 week high of $118.84.

Elastic (NYSE:ESTC - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.47 EPS for the quarter, topping the consensus estimate 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 company had revenue of $388.43 million during the quarter, compared to analyst estimates of $380.61 million. During the same quarter last year, the business posted $0.21 earnings per share. The firm's revenue was up 15.9% on a year-over-year basis. Sell-side analysts forecast that Elastic N.V. will post -0.77 earnings per share for the current fiscal year.

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.