Graham Capital Management L.P. Has $3.84 Million Position in Elastic N.V. $ESTC

Key Points

• Graham Capital Management L.P. increased its stake in Elastic N.V. by 139.8% in the first quarter, now owning 43,055 shares valued at approximately $3.8 million.
• A majority of analysts have rated Elastic as a "Moderate Buy," with a current consensus target price of $120.20 despite several recent adjustments in price targets.
• In the latest earnings report, Elastic surpassed analysts' expectations by reporting $0.47 EPS and revenue of $388.43 million, indicating a year-over-year revenue growth of 15.9%.

Graham Capital Management L.P. lifted its position in Elastic N.V. (NYSE:ESTC - Free Report) by 139.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,055 shares of the company's stock after buying an additional 25,100 shares during the quarter. Graham Capital Management L.P.'s holdings in Elastic were worth $3,836,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in ESTC. Dimensional Fund Advisors LP boosted its position in Elastic by 5.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 383,612 shares of the company's stock worth $38,014,000 after purchasing an additional 20,892 shares during the period. MetLife Investment Management LLC raised its stake in Elastic by 4.6% during the fourth quarter. MetLife Investment Management LLC now owns 5,365 shares of the company's stock worth $532,000 after acquiring an additional 237 shares in the last quarter. Stifel Financial Corp raised its stake in Elastic by 14.4% during the fourth quarter. Stifel Financial Corp now owns 22,384 shares of the company's stock worth $2,218,000 after acquiring an additional 2,820 shares in the last quarter. Northern Trust Corp raised its stake in Elastic by 21.5% during the fourth quarter. Northern Trust Corp now owns 488,803 shares of the company's stock worth $48,431,000 after acquiring an additional 86,612 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Elastic during the fourth quarter worth $469,000. Institutional investors own 97.03% of the company's stock.

Elastic Price Performance

NYSE ESTC traded down $1.58 during midday trading on Thursday, hitting $84.71. The company had a trading volume of 1,986,453 shares, compared to its average volume of 1,741,500. The company has a market capitalization of $9.00 billion, a PE ratio of -105.89 and a beta of 1.04. 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 has a 50-day moving average price of $82.91 and a 200-day moving average price of $87.44. Elastic N.V. has a twelve month low of $69.00 and a twelve month high of $118.84.

Insider Transactions at Elastic

In other Elastic news, insider Ken Exner sold 6,918 shares of Elastic stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $601,243.38. Following the completion of the transaction, the insider directly owned 230,494 shares of the company's stock, valued at $20,032,233.54. The trade was a 2.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Carolyn Herzog sold 5,702 shares of Elastic stock in a transaction on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $495,560.82. Following the completion of the transaction, the insider directly owned 93,985 shares of the company's stock, valued at $8,168,236.35. This represents a 5.72% 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 worth $4,416,324. Corporate insiders own 12.70% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Monness Crespi & Hardt increased their target price on Elastic from $111.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Scotiabank restated an "outperform" rating on shares of Elastic in a report on Friday, August 29th. Barclays raised their target price on Elastic from $105.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Oppenheimer reaffirmed an "outperform" rating on shares of Elastic in a research report on Friday, August 29th. Finally, TD Securities dropped their target price on Elastic from $125.00 to $105.00 and set a "hold" rating on the stock in a research report on Wednesday, May 21st. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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.