Elastic N.V. $ESTC Shares Purchased by Swedbank AB

Key Points

• Swedbank AB increased its stake in Elastic N.V. by 90% during the second quarter, owning approximately 0.10% of the company valued at $8.8 million.
• Institutional investors now hold 97.03% of Elastic's stock, with other notable boosts from Pallas Capital Advisors and Acadian Asset Management.
• Wall Street analysts have mixed views on Elastic, with Piper Sandler raising its target price to $125.00 and others adjusting ratings, resulting in an average rating of "Moderate Buy."

Swedbank AB raised its stake in Elastic N.V. (NYSE:ESTC - Free Report) by 90.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,504 shares of the company's stock after acquiring an additional 49,500 shares during the quarter. Swedbank AB owned about 0.10% of Elastic worth $8,813,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Cloud Capital Management LLC acquired a new position in Elastic during the first quarter valued at approximately $25,000. Fourth Dimension Wealth LLC acquired a new position in shares of Elastic in the fourth quarter valued at $26,000. Signaturefd LLC increased its holdings in shares of Elastic by 53.7% in the first quarter. Signaturefd LLC now owns 335 shares of the company's stock valued at $30,000 after purchasing an additional 117 shares during the last quarter. North Capital Inc. acquired a new position in shares of Elastic in the first quarter valued at $37,000. Finally, Smartleaf Asset Management LLC increased its position in Elastic by 53.7% during the first quarter. Smartleaf Asset Management LLC now owns 435 shares of the company's stock worth $40,000 after acquiring an additional 152 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Oppenheimer reiterated an "outperform" rating on shares of Elastic in a research note on Friday, August 29th. Zacks Research lowered shares of Elastic from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Monness Crespi & Hardt lifted their price objective on shares of Elastic from $111.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Scotiabank reaffirmed an "outperform" rating on shares of Elastic in a report on Friday, August 29th. Finally, Canaccord Genuity Group boosted their price target on shares of Elastic from $110.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Elastic currently has an average rating of "Moderate Buy" and an average target price of $120.00.

Elastic Stock Down 0.2%

NYSE ESTC traded down $0.20 during trading hours on Monday, reaching $88.98. The company's stock had a trading volume of 1,249,845 shares, compared to its average volume of 2,464,211. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.59. The firm's 50-day moving average price is $83.82 and its 200-day moving average price is $85.50. Elastic N.V. has a 1 year low of $70.14 and a 1 year high of $118.84.

Insider Buying and Selling

In related news, insider Carolyn Herzog sold 5,143 shares of the firm's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $463,487.16. Following the transaction, the insider owned 94,677 shares of the company's stock, valued at $8,532,291.24. This trade represents a 5.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ken Exner sold 6,290 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $566,854.80. Following the sale, the insider owned 233,582 shares of the company's stock, valued at $21,050,409.84. This trade represents a 2.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 352,036 shares of company stock worth $31,080,886 over the last ninety days. Corporate insiders own 12.70% of the company's stock.

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.