Massachusetts Financial Services Co. MA Boosts Position in Elastic N.V. (NYSE:ESTC)

Massachusetts Financial Services Co. MA increased its holdings in Elastic N.V. (NYSE:ESTC - Free Report) by 5,437.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,288,128 shares of the company's stock after purchasing an additional 2,246,808 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.19% of Elastic worth $203,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Sylebra Capital LLC raised its position 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 worth $451,950,000 after acquiring an additional 1,756,842 shares in the last quarter. Norges Bank purchased a new stake in Elastic in the fourth quarter worth $102,485,000. Arrowstreet Capital Limited Partnership raised its holdings in Elastic by 5,972.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company's stock worth $73,751,000 after purchasing an additional 732,100 shares in the last quarter. Marshall Wace LLP lifted its position in Elastic by 554.9% during the fourth quarter. Marshall Wace LLP now owns 641,041 shares of the company's stock valued at $63,514,000 after buying an additional 543,155 shares during the period. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of Elastic during the 4th quarter valued at $46,031,000. Hedge funds and other institutional investors own 97.03% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ESTC. Canaccord Genuity Group lowered their price target on shares of Elastic from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Monday, June 2nd. JPMorgan Chase & Co. lowered their target price on shares of Elastic from $120.00 to $110.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Jefferies Financial Group dropped their price target on Elastic from $125.00 to $110.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Truist Financial cut their price target on Elastic from $145.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Finally, Royal Bank Of Canada dropped their target price on Elastic from $119.00 to $115.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $113.52.

Elastic Stock Performance

Shares of NYSE ESTC traded up $0.49 during midday trading on Friday, hitting $86.79. 1,027,598 shares of the company's stock traded hands, compared to its average volume of 1,547,052. The firm has a fifty day moving average of $86.51 and a 200 day moving average of $93.02. Elastic N.V. has a 1 year low of $69.00 and a 1 year high of $118.84. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of -82.66 and a beta of 1.07.

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

Insiders Place Their Bets

In related news, CTO Shay Banon sold 5,117 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $444,718.47. Following the completion of the transaction, the chief technology officer owned 4,560,291 shares in the company, valued at $396,334,890.81. The trade was a 0.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ken Exner sold 6,918 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $601,243.38. Following the sale, the insider directly owned 230,494 shares of the company's stock, 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. Over the last three months, insiders sold 50,913 shares of company stock worth $4,416,324. 15.90% of the stock is 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.