Elastic N.V. (NYSE:ESTC) Shares Bought by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Elastic N.V. by 154.0% during the first quarter, owning approximately 0.09% of the company worth $8,125,000.
• Analysts have set new price targets for Elastic, with ratings from various firms indicating a consensus average target price of $112.72 and a general rating of "Moderate Buy".
• Elastic reported earnings of $0.47 per share for the last quarter, beating the consensus estimate and showing a 15.9% increase in revenue compared to the same period last year.

Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 154.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,193 shares of the company's stock after acquiring an additional 55,287 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.09% of Elastic worth $8,125,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Y Intercept Hong Kong Ltd boosted its position in Elastic by 47.0% during the first quarter. Y Intercept Hong Kong Ltd now owns 23,354 shares of the company's stock worth $2,081,000 after acquiring an additional 7,467 shares during the last quarter. Allianz Asset Management GmbH raised its stake in Elastic by 325.0% during the first quarter. Allianz Asset Management GmbH now owns 309,593 shares of the company's stock worth $27,619,000 after purchasing an additional 236,742 shares during the period. IFP Advisors Inc raised its stake in Elastic by 22.8% during the first quarter. IFP Advisors Inc now owns 2,423 shares of the company's stock worth $216,000 after purchasing an additional 450 shares during the period. Kestra Private Wealth Services LLC purchased a new position in Elastic during the first quarter worth about $204,000. Finally, Victory Capital Management Inc. raised its stake in Elastic by 71.0% during the first quarter. Victory Capital Management Inc. now owns 18,189 shares of the company's stock worth $1,621,000 after purchasing an additional 7,552 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on ESTC. KeyCorp began coverage on shares of Elastic in a research note on Tuesday, June 10th. They set a "sector weight" rating on the stock. Oppenheimer reduced their price target on shares of Elastic from $120.00 to $100.00 and set an "outperform" rating on the stock in a research note on Monday, July 21st. Robert W. Baird reduced their price target on shares of Elastic from $125.00 to $115.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. Rosenblatt Securities reduced their price target on shares of Elastic from $140.00 to $130.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Finally, Monness Crespi & Hardt raised shares of Elastic from a "neutral" rating to a "buy" rating and set a $111.00 price target on the stock in a research note on Friday, June 27th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $112.72.

Elastic Stock Down 0.5%

Shares of NYSE ESTC traded down $0.46 during mid-day trading on Tuesday, reaching $88.41. The company had a trading volume of 432,198 shares, compared to its average volume of 1,657,012. 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 simple moving average of $85.98 and a two-hundred day simple moving average of $92.47. The stock has a market cap of $9.33 billion, a P/E ratio of -84.27 and a beta of 1.07. Elastic N.V. has a 52-week low of $69.00 and a 52-week high of $118.84.

Elastic (NYSE:ESTC - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.10. The firm had revenue of $388.43 million for the quarter, compared to the consensus estimate of $380.61 million. Elastic had a negative net margin of 7.29% and a negative return on equity of 4.46%. The company's revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm posted $0.21 EPS. Sell-side analysts predict that Elastic N.V. will post -0.77 earnings per share for the current year.

Insider Transactions at Elastic

In related news, CRO Mark Eugene Dodds sold 5,514 shares of the 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 sale, the executive owned 165,443 shares in the company, valued at $14,378,651.13. This represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ken Exner sold 6,918 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 transaction of $601,243.38. Following the sale, the insider owned 230,494 shares of the company's stock, valued at approximately $20,032,233.54. This represents a 2.91% decrease in their position. 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. Insiders own 15.90% 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.