Machina Capital S.A.S. Purchases New Holdings in Elastic N.V. (NYSE:ESTC)

Key Points

• Machina Capital S.A.S. made a new investment in Elastic N.V., acquiring 3,615 shares valued at approximately $322,000 in Q1.
• Several institutional investors, including Vanguard Group and Massachusetts Financial Services Co., significantly increased their stakes in Elastic during the fourth quarter.
• Elastic recently reported earnings of $0.47 per share, exceeding analyst expectations, and experienced a revenue increase of 15.9% compared to the same quarter last year.

Machina Capital S.A.S. bought a new stake in shares of Elastic N.V. (NYSE:ESTC - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,615 shares of the company's stock, valued at approximately $322,000.

A number of other hedge funds have also modified their holdings of ESTC. Fourth Dimension Wealth LLC bought a new position in shares of Elastic during the 4th quarter worth approximately $26,000. Cloud Capital Management LLC bought a new position in Elastic in the first quarter valued at about $25,000. Signaturefd LLC grew its holdings in shares of Elastic by 53.7% during the first quarter. Signaturefd LLC now owns 335 shares of the company's stock worth $30,000 after purchasing an additional 117 shares during the last quarter. North Capital Inc. bought a new stake in shares of Elastic during the first quarter worth about $37,000. Finally, GAMMA Investing LLC boosted its holdings in Elastic by 134.6% in the first quarter. GAMMA Investing LLC now owns 570 shares of the company's stock valued at $51,000 after acquiring an additional 327 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Piper Sandler cut their price target on Elastic from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. KeyCorp started coverage on Elastic in a research note on Tuesday, June 10th. They set a "sector weight" rating on the stock. Wedbush decreased their price objective on Elastic from $135.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, May 30th. Stifel Nicolaus reduced their target price on Elastic from $140.00 to $112.00 and set a "buy" rating for the company in a report on Friday, May 30th. Finally, Wells Fargo & Company decreased their price objective on shares of Elastic from $150.00 to $120.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $112.72.

Elastic Trading Down 0.9%

Shares of Elastic stock traded down $0.83 on Tuesday, reaching $88.03. The company had a trading volume of 216,271 shares, compared to its average volume of 1,655,321. The firm has a market cap of $9.29 billion, a price-to-earnings ratio of -83.86 and a beta of 1.07. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.92 and a quick ratio of 1.92. The firm's 50-day moving average price is $85.98 and its two-hundred day moving average price is $92.47. Elastic N.V. has a 1 year low of $69.00 and a 1 year high of $118.84.

Elastic (NYSE:ESTC - Get Free Report) last issued 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 business had revenue of $388.43 million during the quarter, compared to analyst estimates of $380.61 million. Elastic had a negative return on equity of 4.46% and a negative net margin of 7.29%. Elastic's revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 EPS. As a group, research analysts predict that Elastic N.V. will post -0.77 earnings per share for the current fiscal year.

Insider Transactions at Elastic

In other news, CEO Ashutosh Kulkarni sold 22,901 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $1,990,325.91. Following the transaction, the chief executive officer directly owned 454,841 shares of the company's stock, valued at approximately $39,530,231.31. This represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ken Exner sold 6,918 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 value of $601,243.38. Following the completion of the sale, the insider owned 230,494 shares in the company, valued at $20,032,233.54. The trade was a 2.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,913 shares of company stock worth $4,416,324. Company insiders own 15.90% of the company's stock.

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.