Massachusetts Financial Services Co. MA Acquires 2,246,808 Shares of Elastic N.V. (NYSE:ESTC)

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

Several other institutional investors and hedge funds also recently made changes to their positions in ESTC. Cloud Capital Management LLC bought a new stake in shares of Elastic during the first quarter valued at approximately $25,000. Fourth Dimension Wealth LLC bought a new stake in shares of Elastic during the fourth quarter valued at approximately $26,000. Signaturefd LLC increased its position in shares of Elastic by 53.7% during the first quarter. Signaturefd LLC now owns 335 shares of the company's stock valued at $30,000 after acquiring an additional 117 shares in the last quarter. North Capital Inc. bought a new stake in shares of Elastic during the first quarter valued at approximately $37,000. Finally, GAMMA Investing LLC increased its position in shares of Elastic by 134.6% during 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 in the last quarter. Institutional investors own 97.03% of the company's stock.

Elastic Trading Up 1.5%

NYSE ESTC traded up $1.24 during trading on Thursday, hitting $86.28. The stock had a trading volume of 504,784 shares, compared to its average volume of 1,541,733. 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 $9.11 billion, a price-to-earnings ratio of -82.16 and a beta of 1.07. Elastic N.V. has a one year low of $69.00 and a one year high of $118.84. The stock has a 50 day simple moving average of $86.49 and a 200 day simple moving average of $93.20.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.10. The business had revenue of $388.43 million during 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 firm's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. Sell-side analysts predict that Elastic N.V. will post -0.77 earnings per share for the current year.

Analysts Set New Price Targets

ESTC has been the subject of a number of research analyst reports. TD Securities cut their target price on shares of Elastic from $125.00 to $105.00 and set a "hold" rating for the company in a research report on Wednesday, May 21st. Piper Sandler cut their target price on shares of Elastic from $135.00 to $120.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Royal Bank Of Canada cut their target price on shares of Elastic from $119.00 to $115.00 and set an "outperform" rating for the company in a research report on Friday, May 30th. Canaccord Genuity Group cut their target price 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. Finally, Oppenheimer cut their target price on shares of Elastic from $140.00 to $120.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Eight investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $113.52.

Insiders Place Their Bets

In other Elastic news, insider Ken Exner sold 6,918 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $601,243.38. Following the transaction, the insider directly owned 230,494 shares in the company, valued at $20,032,233.54. This represents a 2.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction, the chief technology officer owned 4,560,291 shares in the company, valued at $396,334,890.81. This represents a 0.11% decrease in their ownership of the stock. 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.