Elastic N.V. (NYSE:ESTC) Position Increased by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC grew 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 Securities & Exchange Commission. The fund owned 514,030 shares of the company's stock after buying an additional 45,055 shares during the period. TimesSquare Capital Management LLC owned about 0.49% of Elastic worth $45,800,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Cloud Capital Management LLC bought a new position in Elastic during the first quarter worth $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Elastic during the fourth quarter worth $26,000. Signaturefd LLC lifted its position in shares of Elastic by 53.7% in the 1st quarter. Signaturefd LLC now owns 335 shares of the company's stock worth $30,000 after buying an additional 117 shares during the last quarter. North Capital Inc. acquired a new position in shares of Elastic in the 1st quarter valued at about $37,000. Finally, GAMMA Investing LLC grew its position in shares of Elastic by 134.6% during the 1st quarter. GAMMA Investing LLC now owns 570 shares of the company's stock valued at $51,000 after buying an additional 327 shares during the last quarter. Institutional investors own 97.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Barclays decreased their target price on Elastic from $124.00 to $105.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Scotiabank reduced their price objective 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. Wells Fargo & Company dropped their target price on Elastic from $150.00 to $120.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. KeyCorp assumed coverage on Elastic in a research note on Tuesday, June 10th. They issued a "sector weight" rating on the stock. Finally, Morgan Stanley cut their price objective on shares of Elastic from $140.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $113.52.

Elastic Price Performance

Shares of NYSE ESTC traded up $1.26 during mid-day trading on Thursday, reaching $86.30. The company had a trading volume of 995,941 shares, compared to its average volume of 1,546,577. The company has a 50-day moving average price of $86.49 and a two-hundred day moving average price of $93.10. The stock has a market cap of $9.11 billion, a PE ratio of -82.19 and a beta of 1.07. 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.

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

Insiders Place Their Bets

In other news, 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 value of $601,243.38. Following the completion of the sale, the insider owned 230,494 shares in the company, valued at $20,032,233.54. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ashutosh Kulkarni sold 22,901 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 value of $1,990,325.91. Following the transaction, the chief executive officer directly owned 454,841 shares in the company, valued at $39,530,231.31. The trade was a 4.79% decrease in their ownership of the stock. 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 quarter. Corporate insiders own 15.90% of the company's stock.

About Elastic

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.