Cerity Partners LLC Buys 20,714 Shares of Elastic N.V. (NYSE:ESTC)

Cerity Partners LLC lifted its holdings in Elastic N.V. (NYSE:ESTC - Free Report) by 548.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,489 shares of the company's stock after purchasing an additional 20,714 shares during the quarter. Cerity Partners LLC's holdings in Elastic were worth $2,182,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ESTC. Vanguard Group Inc. grew its stake in Elastic by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company's stock valued at $926,607,000 after purchasing an additional 168,483 shares in the last quarter. Sylebra Capital LLC lifted its position in shares of Elastic by 62.6% in the fourth 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 during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Elastic by 15.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock valued at $339,820,000 after buying an additional 462,974 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Elastic by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company's stock valued at $142,663,000 after buying an additional 45,076 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Elastic in the fourth quarter valued at approximately $102,485,000. Institutional investors own 97.03% of the company's stock.

Insider Buying and Selling at Elastic

In other Elastic news, insider Carolyn Herzog sold 5,702 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $495,560.82. Following the sale, the insider owned 93,985 shares in the company, valued at approximately $8,168,236.35. The trade was a 5.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ashutosh Kulkarni sold 22,901 shares of the company's stock in a transaction dated 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 owned 454,841 shares in the company, valued at $39,530,231.31. This trade represents a 4.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,913 shares of company stock worth $4,416,324 over the last three months. 15.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Piper Sandler decreased their price objective on shares of Elastic from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. Cantor Fitzgerald decreased their price objective on shares of Elastic from $109.00 to $92.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Truist Financial decreased their price objective on shares of Elastic from $145.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Morgan Stanley decreased their price objective on shares of Elastic from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, TD Securities dropped their price target on Elastic from $125.00 to $105.00 and set a "hold" rating for the company in a report on Wednesday, May 21st. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Elastic presently has an average rating of "Moderate Buy" and a consensus target price of $112.72.

Elastic Price Performance

Shares of Elastic stock traded down $0.19 during trading on Wednesday, reaching $87.17. 952,839 shares of the company's stock were exchanged, compared to its average volume of 1,547,725. 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 $118.84. The company has a market cap of $9.20 billion, a P/E ratio of -83.01 and a beta of 1.07. The firm's 50-day moving average price is $86.27 and its 200 day moving average price is $92.79.

Elastic (NYSE:ESTC - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $380.61 million. During the same quarter in the previous year, the firm earned $0.21 EPS. Elastic's revenue was up 15.9% on a year-over-year basis. As a group, research analysts anticipate that Elastic N.V. will post -0.77 earnings per share for the current year.

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.