Exchange Traded Concepts LLC Buys 5,388 Shares of Elastic N.V. (NYSE:ESTC)

Exchange Traded Concepts LLC increased its stake in Elastic N.V. (NYSE:ESTC - Free Report) by 22.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,095 shares of the company's stock after purchasing an additional 5,388 shares during the period. Exchange Traded Concepts LLC's holdings in Elastic were worth $2,592,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp raised its position in shares of Elastic by 0.7% during the fourth quarter. Van ECK Associates Corp now owns 32,954 shares of the company's stock worth $3,265,000 after acquiring an additional 220 shares during the last quarter. Rhumbline Advisers increased its position in Elastic by 2.7% in the fourth quarter. Rhumbline Advisers now owns 102,296 shares of the company's stock worth $10,135,000 after purchasing an additional 2,728 shares during the period. Principal Financial Group Inc. raised its holdings in Elastic by 3.4% during the 4th quarter. Principal Financial Group Inc. now owns 7,299 shares of the company's stock worth $723,000 after purchasing an additional 241 shares during the last quarter. CIBC Asset Management Inc lifted its position in Elastic by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,053 shares of the company's stock valued at $302,000 after purchasing an additional 151 shares during the period. Finally, Truist Financial Corp lifted its position in Elastic by 5.1% during the 4th quarter. Truist Financial Corp now owns 6,158 shares of the company's stock valued at $610,000 after purchasing an additional 301 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Elastic from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. TD Securities lowered their target price on shares of Elastic from $125.00 to $105.00 and set a "hold" rating for the company in a report on Wednesday, May 21st. Stifel Nicolaus dropped their target price on shares of Elastic from $140.00 to $112.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Barclays reduced their price target on Elastic from $124.00 to $105.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Finally, Robert W. Baird decreased their price objective on Elastic from $125.00 to $115.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Elastic has a consensus rating of "Moderate Buy" and an average target price of $113.63.

Elastic Stock Down 0.7%

Shares of ESTC stock traded down $0.60 on Wednesday, hitting $83.46. 1,096,059 shares of the stock were exchanged, compared to its average volume of 1,518,941. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $8.81 billion, a P/E ratio of -79.48 and a beta of 1.07. Elastic N.V. has a fifty-two week low of $69.00 and a fifty-two week high of $123.96. The business has a 50-day moving average of $85.20 and a 200 day moving average of $96.36.

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 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 in the previous year, the business posted $0.21 EPS. Equities analysts anticipate that Elastic N.V. will post -0.77 EPS for the current year.

Insider Buying and Selling

In other news, CRO Mark Eugene Dodds sold 5,514 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $479,221.74. Following the sale, the executive now directly owns 165,443 shares of the company's stock, valued at approximately $14,378,651.13. This represents a 3.23% 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, CFO Navam Welihinda sold 2,261 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 $196,503.51. Following the completion of the sale, the chief financial officer now owns 133,925 shares of the company's stock, valued at $11,639,421.75. This trade represents a 1.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,413 shares of company stock worth $4,720,774. 15.90% of the stock is owned by 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.