J. Safra Sarasin Holding AG Sells 6,537 Shares of Elastic N.V. $ESTC

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Elastic N.V. by 5.2% in Q2, selling 6,537 shares, leaving the firm with 118,620 shares valued at approximately $10 million.
• Insider trading activity included CFO Navam Welihinda selling 3,489 shares and CRO Mark Eugene Dodds selling 5,037 shares, both at an average price of $90.12, indicating a combined decrease in ownership.
• Analysts have a consensus rating of "Moderate Buy" for Elastic, with target price adjustments suggesting a range between $120 and $125 following recent evaluations by multiple research firms.

J. Safra Sarasin Holding AG reduced its holdings in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 5.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,620 shares of the company's stock after selling 6,537 shares during the period. J. Safra Sarasin Holding AG owned 0.11% of Elastic worth $10,003,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Lecap Asset Management Ltd. increased its stake in shares of Elastic by 2.7% during the second quarter. Lecap Asset Management Ltd. now owns 27,583 shares of the company's stock valued at $2,326,000 after purchasing an additional 737 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Elastic by 169.9% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 26,696 shares of the company's stock worth $2,251,000 after buying an additional 16,804 shares during the last quarter. LBP AM SA grew its stake in shares of Elastic by 105.6% in the 2nd quarter. LBP AM SA now owns 373,156 shares of the company's stock worth $31,468,000 after buying an additional 191,663 shares during the last quarter. Truist Financial Corp increased its position in Elastic by 11.4% during the 2nd quarter. Truist Financial Corp now owns 7,616 shares of the company's stock valued at $642,000 after buying an additional 781 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Elastic by 5.1% during the second quarter. Janney Montgomery Scott LLC now owns 3,997 shares of the company's stock valued at $337,000 after buying an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Insiders Place Their Bets

In related news, CFO Navam Welihinda sold 3,489 shares of Elastic stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $314,428.68. Following the completion of the sale, the chief financial officer owned 130,436 shares of the company's stock, valued at $11,754,892.32. The trade was a 2.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Mark Eugene Dodds sold 5,037 shares of the company's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $453,934.44. Following the sale, the executive owned 167,284 shares of the company's stock, valued at approximately $15,075,634.08. This trade represents a 2.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 349,536 shares of company stock worth $30,872,136 in the last 90 days. Insiders own 12.70% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on ESTC. Piper Sandler increased their target price on Elastic from $120.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Cowen reiterated a "hold" rating on shares of Elastic in a research note on Friday, August 29th. Mizuho raised their price objective on shares of Elastic from $100.00 to $119.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Robert W. Baird lifted their target price on shares of Elastic from $105.00 to $120.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Finally, Guggenheim upped their target price on shares of Elastic from $107.00 to $122.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $118.80.

Elastic Stock Performance

Shares of ESTC stock opened at $87.61 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average price of $83.75 and a 200-day moving average price of $85.15. Elastic N.V. has a 52 week low of $70.14 and a 52 week high of $118.84. The firm has a market capitalization of $9.31 billion, a PE ratio of -109.52 and a beta of 1.05.

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.

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