82,914 Shares in Elastic N.V. $ESTC Purchased by Ieq Capital LLC

Key Points

• Ieq Capital LLC acquired a new position in Elastic N.V. with a stake worth approximately $7.39 million, consisting of 82,914 shares of the company.
• Several institutional investors have increased their stakes in Elastic, including RGM Capital LLC which boosted its stake by 38.1%.
• Wall Street analysts have varied ratings for Elastic, with an average rating of "Moderate Buy" and a price target of $110.60.

Ieq Capital LLC purchased a new stake in Elastic N.V. (NYSE:ESTC - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 82,914 shares of the company's stock, valued at approximately $7,388,000. Ieq Capital LLC owned 0.08% of Elastic at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sylebra Capital LLC increased its holdings in shares of Elastic by 62.6% in the 4th quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock valued at $451,950,000 after acquiring an additional 1,756,842 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Elastic by 5,437.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company's stock valued at $203,872,000 after acquiring an additional 2,246,808 shares during the period. RGM Capital LLC increased its holdings in shares of Elastic by 38.1% in the 1st quarter. RGM Capital LLC now owns 1,197,030 shares of the company's stock valued at $106,655,000 after acquiring an additional 330,290 shares during the period. Soma Equity Partners LP increased its holdings in shares of Elastic by 61.5% in the 4th quarter. Soma Equity Partners LP now owns 989,349 shares of the company's stock valued at $98,025,000 after acquiring an additional 376,660 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its holdings in shares of Elastic by 32.6% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 616,133 shares of the company's stock valued at $54,897,000 after acquiring an additional 151,551 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ESTC has been the topic of several research analyst reports. Zacks Research downgraded Elastic from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Scotiabank restated an "outperform" rating on shares of Elastic in a research note on Friday. Guggenheim boosted their target price on Elastic from $107.00 to $122.00 and gave the stock a "buy" rating in a research note on Friday. Stifel Nicolaus boosted their target price on Elastic from $112.00 to $134.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Royal Bank Of Canada boosted their target price on Elastic from $106.00 to $125.00 and gave the stock an "outperform" rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $120.20.

Elastic Stock Performance

ESTC traded down $0.10 on Tuesday, reaching $84.96. 1,580,668 shares of the stock were exchanged, compared to its average volume of 1,733,437. The firm has a market capitalization of $9.03 billion, a PE ratio of -105.99 and a beta of 1.04. The company's 50-day moving average price is $82.79 and its 200 day moving average price is $87.47. 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 N.V. has a fifty-two week low of $69.00 and a fifty-two week high of $118.84.

Insiders Place Their Bets

In other news, insider Carolyn Herzog sold 5,702 shares of the business'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 $495,560.82. Following the completion of the transaction, the insider owned 93,985 shares of the company's stock, valued at $8,168,236.35. The trade was a 5.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Mark Eugene Dodds sold 5,514 shares of the business'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 completion of the transaction, the executive directly owned 165,443 shares of the company's stock, valued at approximately $14,378,651.13. This trade represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,913 shares of company stock worth $4,416,324. 12.70% of the stock is currently owned by company insiders.

Elastic Company 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.