Elastic N.V. $ESTC Shares Acquired by Driehaus Capital Management LLC

Key Points

• Driehaus Capital Management LLC significantly increased its stake in Elastic N.V. by 1,450.8% to own 880,454 shares, making it the company's 29th largest position.
• Elastic's stock rose by 5.7%, with its current price at $88.08, following a quarterly earnings report that showed earnings per share of $0.47, surpassing expectations.
• Insiders sold a total of 50,913 shares valued at $4.42 million over the last quarter, signaling potential profit-taking among senior management.

Driehaus Capital Management LLC boosted its stake in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 1,450.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 880,454 shares of the company's stock after buying an additional 823,680 shares during the quarter. Elastic makes up 0.8% of Driehaus Capital Management LLC's portfolio, making the stock its 29th largest position. Driehaus Capital Management LLC owned 0.84% of Elastic worth $78,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board lifted its holdings in Elastic by 571.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 81,900 shares of the company's stock valued at $7,297,000 after buying an additional 69,700 shares in the last quarter. Shannon River Fund Management LLC bought a new stake in Elastic during the 1st quarter valued at about $31,981,000. Ieq Capital LLC bought a new stake in Elastic during the 1st quarter valued at about $7,388,000. RGM Capital LLC lifted its holdings in 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 buying an additional 330,290 shares in the last quarter. Finally, Thematics Asset Management lifted its holdings in Elastic by 5.9% during the 1st quarter. Thematics Asset Management now owns 424,780 shares of the company's stock valued at $37,848,000 after buying an additional 23,768 shares in the last quarter. Institutional investors own 97.03% of the company's stock.

Elastic Stock Performance

NYSE ESTC traded up $0.16 on Wednesday, hitting $85.25. 549,299 shares of the company's stock traded hands, compared to its average volume of 1,734,191. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.61. Elastic N.V. has a 1-year low of $69.00 and a 1-year high of $118.84. The firm's 50-day moving average price is $82.81 and its two-hundred day moving average price is $87.45. The firm has a market capitalization of $9.06 billion, a PE ratio of -106.50 and a beta of 1.04.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ESTC shares. Zacks Research lowered shares of Elastic from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. JPMorgan Chase & Co. reduced their price target on shares of Elastic from $120.00 to $110.00 and set an "overweight" rating for the company in a report on Friday, May 30th. 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 report on Friday, August 29th. Cowen restated a "hold" rating on shares of Elastic in a report on Friday. Finally, Oppenheimer restated an "outperform" rating on shares of Elastic in a report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $120.00.

Insider Transactions at Elastic

In related news, insider Ken Exner sold 6,918 shares of the business's stock in a transaction on Monday, June 9th. The shares were 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 in the company, valued at $20,032,233.54. The trade was a 2.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Mark Eugene Dodds sold 5,514 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $479,221.74. Following the completion of the transaction, the executive owned 165,443 shares of the company's stock, valued at approximately $14,378,651.13. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,913 shares of company stock worth $4,416,324. Insiders own 12.70% of the company's stock.

Elastic Company 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.