25,270 Shares in Elastic N.V. $ESTC Purchased by Kettle Hill Capital Management LLC

Key Points

• Kettle Hill Capital Management LLC has made a significant investment in Elastic N.V., purchasing 25,270 shares valued at approximately $2.25 million.
• Massachusetts Financial Services Co. increased its stake in Elastic by 5,437.6%, now holding over 2.2 million shares, reflecting a trend of large investors boosting their positions in the company.
• Elastic N.V. has received mixed analyst ratings, with a consensus rating of "Moderate Buy" and a target price of $120.00, despite a recent price target decrease from TD Securities.

Kettle Hill Capital Management LLC bought a new stake in Elastic N.V. (NYSE:ESTC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 25,270 shares of the company's stock, valued at approximately $2,252,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC purchased a new stake in shares of Elastic in the fourth quarter valued at about $26,000. Cloud Capital Management LLC purchased a new stake in Elastic during the 1st quarter worth about $25,000. Signaturefd LLC grew its stake in Elastic by 53.7% in the 1st quarter. Signaturefd LLC now owns 335 shares of the company's stock worth $30,000 after acquiring an additional 117 shares during the period. North Capital Inc. purchased a new stake in Elastic in the 1st quarter worth approximately $37,000. Finally, Smartleaf Asset Management LLC grew its stake in Elastic by 53.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company's stock worth $40,000 after acquiring an additional 152 shares during the period. 97.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ESTC has been the topic of a number of recent analyst reports. Guggenheim boosted their price objective on shares of Elastic from $107.00 to $122.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Robert W. Baird upped their price target on shares of Elastic from $105.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Wall Street Zen raised shares of Elastic from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. UBS Group upped their price target on shares of Elastic from $95.00 to $125.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Finally, Zacks Research lowered shares of Elastic from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Elastic presently has an average rating of "Moderate Buy" and an average price target of $120.00.

Elastic Price Performance

ESTC stock traded down $1.14 during trading on Tuesday, hitting $91.16. 2,386,858 shares of the stock traded hands, compared to its average volume of 1,759,597. Elastic N.V. has a one year low of $70.14 and a one year high of $118.84. The stock has a market cap of $9.69 billion, a price-to-earnings ratio of -113.95 and a beta of 1.04. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.59. The company has a 50 day simple moving average of $83.19 and a 200 day simple moving average of $86.62.

Insider Activity at Elastic

In other news, CRO Mark Eugene Dodds sold 2,500 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $83.50, for a total value of $208,750.00. Following the transaction, the executive directly owned 172,321 shares of the company's stock, valued at $14,388,803.50. This represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Shay Banon sold 100,000 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $84.20, for a total transaction of $8,420,000.00. Following the sale, the chief technology officer owned 2,154,978 shares in the company, valued at $181,449,147.60. The trade was a 4.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.70% of the stock is owned by corporate insiders.

Elastic 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.