Elastic N.V. (NYSE:ESTC) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in Elastic N.V. (NYSE:ESTC - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 504,823 shares of the company's stock after purchasing an additional 22,005 shares during the period. Bank of New York Mellon Corp owned about 0.48% of Elastic worth $44,980,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Parallel Advisors LLC grew its holdings in Elastic by 4.5% in the first quarter. Parallel Advisors LLC now owns 3,396 shares of the company's stock valued at $303,000 after purchasing an additional 145 shares during the period. WCM Investment Management LLC raised its holdings in Elastic by 0.7% in the 1st quarter. WCM Investment Management LLC now owns 23,811 shares of the company's stock valued at $2,183,000 after acquiring an additional 169 shares during the last quarter. Resolute Advisors LLC boosted its holdings in shares of Elastic by 7.1% during the 4th quarter. Resolute Advisors LLC now owns 3,255 shares of the company's stock worth $323,000 after purchasing an additional 217 shares during the last quarter. Guggenheim Capital LLC grew its position in shares of Elastic by 3.3% in the fourth quarter. Guggenheim Capital LLC now owns 7,278 shares of the company's stock valued at $721,000 after purchasing an additional 230 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of Elastic by 4.6% in the fourth quarter. MetLife Investment Management LLC now owns 5,365 shares of the company's stock valued at $532,000 after purchasing an additional 237 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Insider Activity at Elastic

In other Elastic news, CRO Mark Eugene Dodds sold 5,514 shares of the company'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 in the company, valued at approximately $14,378,651.13. This represents a 3.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ashutosh Kulkarni sold 22,901 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $1,990,325.91. Following the completion of the sale, the chief executive officer owned 454,841 shares of the company's stock, valued at approximately $39,530,231.31. The trade was a 4.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,913 shares of company stock worth $4,416,324 in the last three months. Company insiders own 15.90% of the company's stock.

Elastic Stock Up 1.1%

NYSE ESTC traded up $0.91 during trading on Monday, reaching $85.18. 1,732,298 shares of the company's stock were exchanged, compared to its average volume of 1,713,835. The company has a 50 day moving average price of $86.41 and a two-hundred day moving average price of $93.43. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market cap of $8.99 billion, a P/E ratio of -81.13 and a beta of 1.07. Elastic N.V. has a 1 year low of $69.00 and a 1 year high of $123.96.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.10. The company had revenue of $388.43 million for the quarter, compared to analyst estimates of $380.61 million. Elastic had a negative return on equity of 4.46% and a negative net margin of 7.29%. The business's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.21 earnings per share. On average, equities research analysts anticipate that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Jefferies Financial Group lowered their price target on shares of Elastic from $125.00 to $110.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Truist Financial decreased their price target on Elastic from $145.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Piper Sandler cut their price objective on Elastic from $135.00 to $120.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Guggenheim reduced their price objective on shares of Elastic from $136.00 to $107.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Finally, Robert W. Baird lowered their target price on shares of Elastic from $125.00 to $115.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $113.52.

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.