TimesSquare Capital Management LLC Purchases 45,055 Shares of Elastic N.V. (NYSE:ESTC)

TimesSquare Capital Management LLC increased its position in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 9.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 514,030 shares of the company's stock after buying an additional 45,055 shares during the quarter. TimesSquare Capital Management LLC owned about 0.49% of Elastic worth $45,800,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sylebra Capital LLC increased its position in shares of Elastic by 62.6% during the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock worth $451,950,000 after acquiring an additional 1,756,842 shares in the last quarter. Norges Bank acquired a new position in Elastic during the 4th quarter valued at about $102,485,000. Arrowstreet Capital Limited Partnership increased its holdings in Elastic by 5,972.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company's stock worth $73,751,000 after purchasing an additional 732,100 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Elastic by 554.9% in the fourth quarter. Marshall Wace LLP now owns 641,041 shares of the company's stock worth $63,514,000 after purchasing an additional 543,155 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new position in shares of Elastic in the fourth quarter valued at approximately $46,031,000. Institutional investors own 97.03% of the company's stock.

Elastic Stock Performance

NYSE ESTC traded up $0.91 during trading on Monday, hitting $85.18. 1,732,299 shares of the company's stock traded hands, compared to its average volume of 1,713,835. 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 capitalization of $8.99 billion, a price-to-earnings ratio of -81.13 and a beta of 1.07. Elastic N.V. has a 12-month low of $69.00 and a 12-month high of $123.96. The business has a 50 day moving average of $86.41 and a 200-day moving average of $93.43.

Elastic (NYSE:ESTC - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.47 earnings per share (EPS) for the quarter, beating 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 net margin of 7.29% and a negative return on equity of 4.46%. The company's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 earnings per share. As a group, equities research analysts anticipate that Elastic N.V. will post -0.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ESTC shares. Guggenheim decreased their price target on Elastic from $136.00 to $107.00 and set a "buy" rating for the company in a report on Friday, May 30th. Oppenheimer cut their price objective on shares of Elastic from $140.00 to $120.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. 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 report on Friday, May 30th. Monness Crespi & Hardt upgraded shares of Elastic from a "neutral" rating to a "buy" rating and set a $111.00 price target on the stock in a report on Friday, June 27th. Finally, DA Davidson reduced their price objective on shares of Elastic from $115.00 to $75.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Elastic currently has a consensus rating of "Moderate Buy" and a consensus price target of $113.52.

Insider Activity

In other Elastic news, CRO Mark Eugene Dodds sold 2,500 shares of Elastic stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $83.50, for a total transaction of $208,750.00. Following the completion of the transaction, the executive owned 172,321 shares of the company's stock, valued at $14,388,803.50. The trade was a 1.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Shay Banon sold 5,117 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $444,718.47. Following the completion of the sale, the chief technology officer directly owned 4,560,291 shares in the company, valued at approximately $396,334,890.81. The trade was a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,913 shares of company stock valued at $4,416,324. 15.90% of the stock is currently owned by corporate insiders.

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.