Exchange Traded Concepts LLC Increases Stock Position in Elastic N.V. (NYSE:ESTC)

Exchange Traded Concepts LLC boosted its position in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 22.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,095 shares of the company's stock after buying an additional 5,388 shares during the period. Exchange Traded Concepts LLC's holdings in Elastic were worth $2,592,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Sigma Planning Corp boosted its stake in shares of Elastic by 3.7% in the 4th quarter. Sigma Planning Corp now owns 3,929 shares of the company's stock valued at $389,000 after purchasing an additional 139 shares in the last quarter. Parallel Advisors LLC boosted its position in Elastic by 4.5% in the first quarter. Parallel Advisors LLC now owns 3,396 shares of the company's stock valued at $303,000 after buying an additional 145 shares in the last quarter. CIBC Asset Management Inc boosted its position in Elastic by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,053 shares of the company's stock valued at $302,000 after buying an additional 151 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock valued at $28,000 after buying an additional 158 shares in the last quarter. Finally, Resolute Advisors LLC boosted its holdings in shares of Elastic by 7.1% during the 4th quarter. Resolute Advisors LLC now owns 3,255 shares of the company's stock valued at $323,000 after acquiring an additional 217 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ESTC. Cantor Fitzgerald cut their price objective on Elastic from $109.00 to $92.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Scotiabank cut their price target on Elastic from $137.00 to $95.00 and set a "sector outperform" rating on the stock in a research note on Friday, May 30th. Canaccord Genuity Group cut their price target on Elastic from $135.00 to $110.00 and set a "buy" rating on the stock in a research note on Monday, June 2nd. Truist Financial cut their target price on shares of Elastic from $145.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Rosenblatt Securities cut their target price on shares of Elastic from $140.00 to $130.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $113.63.

Insider Buying and Selling

In related news, insider Carolyn Herzog sold 5,702 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 $495,560.82. Following the sale, the insider now owns 93,985 shares in the company, valued at $8,168,236.35. This represents a 5.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Navam Welihinda sold 2,261 shares of the company's stock in a transaction dated Monday, June 9th. The stock was 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 in the company, valued at $11,639,421.75. This represents a 1.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,413 shares of company stock valued at $4,720,774. 15.90% of the stock is owned by company insiders.

Elastic Stock Down 1.5%

Shares of Elastic stock traded down $1.28 during trading on Friday, reaching $82.15. 2,269,736 shares of the company traded hands, compared to its average volume of 1,526,407. The company has a 50 day moving average price of $85.34 and a 200-day moving average price of $95.71. Elastic N.V. has a 1-year low of $69.00 and a 1-year high of $123.96. The firm has a market capitalization of $8.67 billion, a PE ratio of -78.24 and a beta of 1.07. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.92 and a quick ratio of 1.92.

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, beating the consensus estimate of $0.37 by $0.10. Elastic had a negative net margin of 7.29% and a negative return on equity of 4.46%. The firm had revenue of $388.43 million for the quarter, compared to analyst estimates of $380.61 million. During the same quarter in the prior year, the business earned $0.21 earnings per share. The business's quarterly revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts expect that Elastic N.V. will post -0.77 earnings per share 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.