ING Groep NV Invests $1.40 Million in Elastic N.V. (NYSE:ESTC)

ING Groep NV purchased a new stake in Elastic N.V. (NYSE:ESTC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 15,700 shares of the company's stock, valued at approximately $1,399,000.

Other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in shares of Elastic by 24.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,884 shares of the company's stock valued at $346,000 after acquiring an additional 773 shares in the last quarter. Baker Avenue Asset Management LP bought a new position in Elastic in the first quarter valued at approximately $5,173,000. Blueshift Asset Management LLC acquired a new position in shares of Elastic during the 1st quarter worth approximately $280,000. US Bancorp DE increased its position in shares of Elastic by 108.4% during the 1st quarter. US Bancorp DE now owns 4,806 shares of the company's stock worth $428,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Natixis Advisors LLC bought a new stake in shares of Elastic during the 1st quarter worth approximately $1,131,000. 97.03% of the stock is currently owned by institutional investors.

Elastic Stock Down 2.5%

Shares of ESTC traded down $1.89 during trading hours on Friday, reaching $74.48. The stock had a trading volume of 2,845,609 shares, compared to its average volume of 1,259,115. The firm has a 50-day simple moving average of $84.19 and a 200 day simple moving average of $91.46. Elastic N.V. has a 12 month low of $69.00 and a 12 month high of $118.84. 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 company has a market capitalization of $7.86 billion, a price-to-earnings ratio of -70.93 and a beta of 1.07.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.10. The firm had revenue of $388.43 million during the quarter, compared to analysts' expectations of $380.61 million. Elastic had a negative net margin of 7.29% and a negative return on equity of 4.46%. The business's revenue was up 15.9% on a year-over-year basis. During the same period last year, the company earned $0.21 earnings per share. Equities research analysts predict that Elastic N.V. will post -0.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Carolyn Herzog sold 5,702 shares of the company'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 $495,560.82. Following the completion of the sale, the insider owned 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 through this hyperlink. Also, CTO Shay Banon sold 5,117 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 $444,718.47. Following the completion of the sale, the chief technology officer directly owned 4,560,291 shares of the company's stock, valued at $396,334,890.81. The trade was a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,913 shares of company stock worth $4,416,324 in the last three months. 15.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on ESTC. KeyCorp started coverage on shares of Elastic in a report on Tuesday, June 10th. They set a "sector weight" rating on the stock. DA Davidson reduced their target price on Elastic from $115.00 to $75.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Morgan Stanley cut their price target on Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Guggenheim dropped their price objective on shares of Elastic from $136.00 to $107.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Finally, Wells Fargo & Company reduced their target price on shares of Elastic from $150.00 to $120.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Elastic presently has an average rating of "Moderate Buy" and a consensus price target of $112.72.

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.