Nisa Investment Advisors LLC Sells 14,115 Shares of Elastic N.V. (NYSE:ESTC)

Nisa Investment Advisors LLC decreased its stake in Elastic N.V. (NYSE:ESTC - Free Report) by 97.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 410 shares of the company's stock after selling 14,115 shares during the period. Nisa Investment Advisors LLC's holdings in Elastic were worth $37,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ESTC. Raymond James Financial Inc. acquired a new position in shares of Elastic during the 4th quarter worth approximately $3,019,000. PNC Financial Services Group Inc. lifted its stake in shares of Elastic by 16.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,111 shares of the company's stock valued at $308,000 after acquiring an additional 437 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Elastic by 187.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 9,073 shares of the company's stock worth $899,000 after buying an additional 5,919 shares during the period. Xponance Inc. lifted its holdings in shares of Elastic by 11.5% during the fourth quarter. Xponance Inc. now owns 11,980 shares of the company's stock worth $1,187,000 after purchasing an additional 1,231 shares during the period. Finally, Teacher Retirement System of Texas grew its position in shares of Elastic by 57.2% in the 4th quarter. Teacher Retirement System of Texas now owns 14,317 shares of the company's stock valued at $1,419,000 after buying an additional 5,209 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Elastic

In other news, CTO Shay Banon sold 5,117 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $444,718.47. Following the sale, the chief technology officer directly owned 4,560,291 shares of the company's stock, valued at approximately $396,334,890.81. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Carolyn Herzog sold 5,702 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $495,560.82. Following the sale, the insider owned 93,985 shares of the company's stock, valued at approximately $8,168,236.35. The trade was a 5.72% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,913 shares of company stock worth $4,416,324. Insiders own 15.90% of the company's stock.

Analyst Upgrades and Downgrades

ESTC has been the subject of several research reports. Monness Crespi & Hardt raised shares of Elastic from a "neutral" rating to a "buy" rating and set a $111.00 price target for the company in a research report on Friday, June 27th. KeyCorp initiated coverage on Elastic in a research note on Tuesday, June 10th. They issued a "sector weight" rating for the company. DA Davidson cut their price objective on Elastic from $115.00 to $75.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus lowered their price objective on Elastic from $140.00 to $112.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Finally, Jefferies Financial Group reduced their price objective on shares of Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $112.72.

Elastic Trading Up 0.3%

ESTC traded up $0.23 during trading on Tuesday, hitting $87.09. 262,505 shares of the company's stock were exchanged, compared to its average volume of 1,544,494. The stock has a 50 day moving average price of $86.51 and a 200 day moving average price of $92.93. The firm has a market cap of $9.19 billion, a P/E ratio of -82.95 and a beta of 1.07. Elastic N.V. has a 1 year low of $69.00 and a 1 year high of $118.84. 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 (NYSE:ESTC - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.47 EPS for the quarter, beating the consensus estimate 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 net margin of 7.29% and a negative return on equity of 4.46%. Elastic's quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company earned $0.21 EPS. As a group, analysts expect that Elastic N.V. will post -0.77 EPS for the current fiscal year.

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.