Elastic (NYSE:ESTC) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in Elastic (NYSE:ESTC - Free Report) by 20,800.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 50,787 shares of the company's stock after buying an additional 50,544 shares during the quarter. GAMMA Investing LLC's holdings in Elastic were worth $4,525,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ESTC. Sigma Planning Corp increased its position in shares of Elastic by 3.7% during the fourth quarter. Sigma Planning Corp now owns 3,929 shares of the company's stock valued at $389,000 after buying an additional 139 shares during the period. CIBC Asset Management Inc increased its position in shares of Elastic by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,053 shares of the company's stock worth $302,000 after purchasing an additional 151 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock valued at $28,000 after acquiring an additional 158 shares during the last quarter. Resolute Advisors LLC grew its position in Elastic by 7.1% during the fourth quarter. Resolute Advisors LLC now owns 3,255 shares of the company's stock valued at $323,000 after acquiring an additional 217 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in Elastic by 0.7% during the fourth quarter. Van ECK Associates Corp now owns 32,954 shares of the company's stock valued at $3,265,000 after acquiring an additional 220 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wells Fargo & Company decreased their target price on shares of Elastic from $150.00 to $120.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. 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. Barclays lowered their price objective on Elastic from $124.00 to $105.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Scotiabank lowered 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. Finally, UBS Group raised their price objective on Elastic from $140.00 to $148.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Eight research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Elastic presently has a consensus rating of "Moderate Buy" and a consensus target price of $113.63.

Insider Buying and Selling at Elastic

In other Elastic news, CRO Mark Eugene Dodds sold 5,514 shares of Elastic stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $479,221.74. Following the sale, the executive now owns 165,443 shares in the company, valued at $14,378,651.13. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Navam Welihinda sold 2,261 shares of the business'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 $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. Over the last three months, insiders have sold 53,413 shares of company stock valued at $4,720,774. Company insiders own 15.90% of the company's stock.

Elastic Stock Performance

Shares of Elastic stock traded down $3.93 on Friday, reaching $79.32. 2,595,142 shares of the stock were exchanged, compared to its average volume of 1,509,858. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a twelve month low of $69.00 and a twelve month high of $123.96. The business has a 50 day moving average price of $85.02 and a two-hundred day moving average price of $96.74. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 144.22 and a beta of 1.07.

Elastic (NYSE:ESTC - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.37 by $0.10. The firm had revenue of $388.43 million for the quarter, compared to analyst estimates of $380.61 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. Elastic's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $0.21 earnings per share. Analysts anticipate that Elastic will post -0.77 earnings per share for the current fiscal year.

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.