Bank of New York Mellon Corp Has $44.98 Million Stake in Elastic N.V. (NYSE:ESTC)

Bank of New York Mellon Corp grew its holdings in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 4.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm 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 approximately 0.48% of Elastic worth $44,980,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ESTC. Jones Financial Companies Lllp boosted its stake in Elastic by 759.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,049 shares of the company's stock valued at $104,000 after buying an additional 927 shares in the last quarter. Raymond James Financial Inc. bought a new position in Elastic during the fourth quarter valued at about $3,019,000. PNC Financial Services Group Inc. boosted its stake in Elastic by 16.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,111 shares of the company's stock valued at $308,000 after buying an additional 437 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Elastic by 8.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,955 shares of the company's stock valued at $3,860,000 after buying an additional 2,977 shares in the last quarter. Finally, Avantax Advisory Services Inc. bought a new position in Elastic during the fourth quarter valued at about $1,004,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Elastic Stock Performance

ESTC traded up $1.26 during midday trading on Thursday, reaching $86.30. The company's stock had a trading volume of 995,941 shares, compared to its average volume of 1,546,577. The stock has a market cap of $9.11 billion, a P/E ratio of -82.19 and a beta of 1.07. The company has a fifty day simple moving average of $86.49 and a 200 day simple moving average of $93.10. 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 twelve month low of $69.00 and a twelve month high of $118.84.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Scotiabank decreased their price target on Elastic from $137.00 to $95.00 and set a "sector outperform" rating for the company in a research report on Friday, May 30th. TD Securities decreased their price target on Elastic from $125.00 to $105.00 and set a "hold" rating for the company in a research report on Wednesday, May 21st. Stifel Nicolaus decreased their price target on Elastic from $140.00 to $112.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Canaccord Genuity Group decreased their price target on Elastic from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Monday, June 2nd. Finally, Wall Street Zen upgraded Elastic from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Elastic currently has an average rating of "Moderate Buy" and a consensus target price of $113.52.

Insider Activity at Elastic

In other news, CEO Ashutosh Kulkarni sold 22,901 shares of Elastic stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $1,990,325.91. Following the sale, the chief executive officer owned 454,841 shares of the company's stock, valued at approximately $39,530,231.31. This trade represents a 4.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Mark Eugene Dodds sold 2,500 shares of Elastic stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $83.50, for a total value of $208,750.00. Following the sale, the executive directly owned 172,321 shares in the company, valued at $14,388,803.50. The trade was a 1.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 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 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.