Petrus Trust Company LTA Boosts Stock Position in Elastic N.V. $ESTC

Key Points

• Petrus Trust Company LTA increased its stake in Elastic N.V. by 52.2%, holding 9,658 shares valued at approximately $861,000, following the acquisition of an additional 3,312 shares in Q1.
• Several institutional investors, including Signaturefd LLC and Smartleaf Asset Management LLC, also raised their positions in Elastic during the first quarter, reflecting strong interest in the stock.
• Wall Street analysts have given Elastic a consensus rating of "Moderate Buy" and have adjusted price targets, with estimates ranging from $110.00 to $130.00.

Petrus Trust Company LTA grew its holdings in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 52.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,658 shares of the company's stock after purchasing an additional 3,312 shares during the quarter. Petrus Trust Company LTA's holdings in Elastic were worth $861,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Sylebra Capital LLC increased its position in shares of Elastic by 62.6% during the 4th quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock valued at $451,950,000 after purchasing an additional 1,756,842 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Elastic by 5,437.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company's stock valued at $203,872,000 after purchasing an additional 2,246,808 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Elastic by 6,651.3% during the 1st quarter. AQR Capital Management LLC now owns 1,403,859 shares of the company's stock valued at $122,978,000 after purchasing an additional 1,383,065 shares during the last quarter. RGM Capital LLC increased its position in shares of Elastic by 38.1% during the 1st quarter. RGM Capital LLC now owns 1,197,030 shares of the company's stock valued at $106,655,000 after purchasing an additional 330,290 shares during the last quarter. Finally, Soma Equity Partners LP increased its position in shares of Elastic by 61.5% during the 4th quarter. Soma Equity Partners LP now owns 989,349 shares of the company's stock valued at $98,025,000 after purchasing an additional 376,660 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elastic

In other news, CRO Mark Eugene Dodds sold 2,500 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $83.50, for a total value of $208,750.00. Following the completion of the transaction, the executive directly owned 172,321 shares in the company, valued at approximately $14,388,803.50. This represents a 1.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Shay Banon sold 100,000 shares of the company's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $84.20, for a total value of $8,420,000.00. Following the completion of the transaction, the chief technology officer owned 2,154,978 shares of the company's stock, valued at $181,449,147.60. The trade was a 4.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.70% of the stock is currently owned by insiders.

Elastic Price Performance

NYSE ESTC traded down $1.14 during trading on Tuesday, reaching $91.16. The company's stock had a trading volume of 2,386,977 shares, compared to its average volume of 2,377,984. The stock has a market capitalization of $9.69 billion, a PE ratio of -113.95 and a beta of 1.04. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.09 and a quick ratio of 2.09. The firm has a fifty day moving average of $83.34 and a 200 day moving average of $86.65. Elastic N.V. has a one year low of $70.14 and a one year high of $118.84.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ESTC. Barclays lifted their price objective on Elastic from $105.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Monness Crespi & Hardt lifted their price objective on Elastic from $111.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Oppenheimer reissued an "outperform" rating on shares of Elastic in a report on Friday, August 29th. Scotiabank reissued an "outperform" rating on shares of Elastic in a report on Friday, August 29th. Finally, Wells Fargo & Company decreased their target price on shares of Elastic from $150.00 to $120.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $120.00.

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.