CWM LLC lifted its position in Elastic N.V. (NYSE:ESTC - Free Report) by 68.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 49,477 shares of the company's stock after purchasing an additional 20,027 shares during the quarter. CWM LLC's holdings in Elastic were worth $4,408,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new stake in shares of Elastic during the fourth quarter valued at approximately $26,000. Cloud Capital Management LLC acquired a new position in Elastic during the 1st quarter worth $25,000. North Capital Inc. bought a new position in Elastic in the 1st quarter valued at $37,000. GAMMA Investing LLC increased its stake 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. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Elastic in the 1st quarter valued at $77,000. Institutional investors and hedge funds own 97.03% of the company's stock.
Elastic Trading Up 0.6%
Shares of Elastic stock traded up $0.49 during midday trading on Friday, reaching $86.79. The company had a trading volume of 1,027,598 shares, compared to its average volume of 1,551,071. Elastic N.V. has a fifty-two week low of $69.00 and a fifty-two week high of $118.84. The stock has a fifty day moving average price of $86.51 and a 200 day moving average price of $92.98. The firm has a market cap of $9.16 billion, a PE ratio of -82.66 and a beta of 1.07. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.92 and a quick ratio of 1.92.
Elastic (NYSE:ESTC - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.37 by $0.10. The company had revenue of $388.43 million during the quarter, compared to the consensus estimate of $380.61 million. Elastic had a negative return on equity of 4.46% and a negative net margin of 7.29%. The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the business posted $0.21 EPS. On average, equities analysts anticipate that Elastic N.V. will post -0.77 earnings per share for the current year.
Insider Activity
In other Elastic news, CEO Ashutosh Kulkarni sold 22,901 shares of the business'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 transaction, 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, CTO Shay Banon sold 5,117 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $444,718.47. Following the transaction, the chief technology officer owned 4,560,291 shares of the company's stock, valued at $396,334,890.81. The trade was a 0.11% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,913 shares of company stock worth $4,416,324. Corporate insiders own 15.90% of the company's stock.
Analysts Set New Price Targets
Several brokerages have commented on ESTC. Truist Financial dropped their target price on shares of Elastic from $145.00 to $140.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Piper Sandler lowered their target price on Elastic from $135.00 to $120.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Barclays dropped their price target on Elastic from $124.00 to $105.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. Canaccord Genuity Group decreased their price objective on Elastic from $135.00 to $110.00 and set a "buy" rating for the company in a report on Monday, June 2nd. Finally, Rosenblatt Securities lowered their target price on Elastic from $140.00 to $130.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Eight analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Elastic currently has an average rating of "Moderate Buy" and a consensus price target of $113.52.
Check Out Our Latest Research Report on ESTC
About Elastic
(
Free Report)
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.
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