HighTower Advisors LLC increased its stake in Elastic N.V. (NYSE:ESTC - Free Report) by 201.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,571 shares of the company's stock after purchasing an additional 11,074 shares during the period. HighTower Advisors LLC's holdings in Elastic were worth $1,476,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of ESTC. Raymond James Financial Inc. bought a new position in Elastic during the fourth quarter valued at approximately $3,019,000. Mariner LLC grew its position in Elastic by 16.6% during the fourth quarter. Mariner LLC now owns 6,249 shares of the company's stock valued at $619,000 after acquiring an additional 889 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Elastic by 5.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 383,612 shares of the company's stock valued at $38,014,000 after acquiring an additional 20,892 shares during the last quarter. MetLife Investment Management LLC grew its position in Elastic by 4.6% during the fourth quarter. MetLife Investment Management LLC now owns 5,365 shares of the company's stock valued at $532,000 after acquiring an additional 237 shares during the last quarter. Finally, Stifel Financial Corp grew its position in Elastic by 14.4% during the fourth quarter. Stifel Financial Corp now owns 22,384 shares of the company's stock valued at $2,218,000 after acquiring an additional 2,820 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.
Insider Activity
In other news, insider Ken Exner sold 6,918 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 transaction of $601,243.38. Following the sale, the insider owned 230,494 shares in the company, valued at approximately $20,032,233.54. The trade was a 2.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Shay Banon sold 5,117 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 transaction of $444,718.47. Following the sale, the chief technology officer owned 4,560,291 shares in the company, valued at approximately $396,334,890.81. This trade represents a 0.11% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,913 shares of company stock worth $4,416,324. 15.90% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the stock. Robert W. Baird reduced their price target on shares of Elastic from $125.00 to $115.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. Canaccord Genuity Group reduced their price target on shares of Elastic from $135.00 to $110.00 and set a "buy" rating on the stock in a research report on Monday, June 2nd. Wedbush cut their target price on shares of Elastic from $135.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. TD Securities lowered their price target 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. Finally, Stifel Nicolaus dropped their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $110.60.
View Our Latest Analysis on ESTC
Elastic Trading Up 5.7%
Shares of ESTC traded up $4.78 during trading hours on Thursday, reaching $88.08. 4,887,021 shares of the company traded hands, compared to its average volume of 1,790,197. The company's fifty day moving average price is $82.67 and its two-hundred day moving average price is $88.29. The company has a market capitalization of $9.30 billion, a price-to-earnings ratio of -83.88 and a beta of 1.07. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.61. Elastic N.V. has a 12 month low of $69.00 and a 12 month high of $118.84.
Elastic (NYSE:ESTC - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 7.29% and a negative return on equity of 4.46%. The company's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 EPS. Equities research analysts predict that Elastic N.V. will post -0.77 earnings per share for the current fiscal year.
About Elastic
(
Free Report)
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.
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