8,249 Shares in Elastic N.V. $ESTC Acquired by Maverick Capital Ltd.

Key Points

• Maverick Capital Ltd. has made a new investment in Elastic N.V., purchasing 8,249 shares valued at approximately $735,000 in the first quarter.
• Major institutional investors, such as Royal Bank of Canada and Baird Financial Group Inc., have significantly increased their holdings in Elastic, indicating strong interest with over 97% of the stock owned by institutional investors.
• Research analysts have predominantly given positive ratings on Elastic stock, with a consensus rating of "Moderate Buy" and a target price of $120.20.

Maverick Capital Ltd. acquired a new stake in Elastic N.V. (NYSE:ESTC - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 8,249 shares of the company's stock, valued at approximately $735,000.

A number of other institutional investors have also made changes to their positions in the stock. Sylebra Capital LLC raised its stake 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 valued at $451,950,000 after acquiring an additional 1,756,842 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Elastic by 5,437.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company's stock valued at $203,872,000 after acquiring an additional 2,246,808 shares in the last quarter. RGM Capital LLC raised its stake in shares of Elastic by 38.1% in the 1st quarter. RGM Capital LLC now owns 1,197,030 shares of the company's stock valued at $106,655,000 after acquiring an additional 330,290 shares in the last quarter. Soma Equity Partners LP raised its stake in shares of Elastic by 61.5% in the 4th quarter. Soma Equity Partners LP now owns 989,349 shares of the company's stock valued at $98,025,000 after acquiring an additional 376,660 shares in the last quarter. Finally, Driehaus Capital Management LLC lifted its position in shares of Elastic by 1,450.8% during the 1st quarter. Driehaus Capital Management LLC now owns 880,454 shares of the company's stock worth $78,448,000 after purchasing an additional 823,680 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

Elastic Price Performance

Shares of ESTC stock traded up $1.96 during trading hours on Friday, hitting $86.67. The company had a trading volume of 2,260,284 shares, compared to its average volume of 2,281,823. Elastic N.V. has a 12 month low of $69.00 and a 12 month high of $118.84. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of -108.34 and a beta of 1.04. The firm's fifty day moving average is $83.04 and its 200 day moving average is $86.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.09 and a current ratio of 2.09.

Insider Buying and Selling

In other Elastic news, CEO Ashutosh Kulkarni sold 22,901 shares of Elastic stock in a transaction on 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 completion of the transaction, the chief executive officer owned 454,841 shares in the company, valued at approximately $39,530,231.31. The trade was a 4.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 5,117 shares of Elastic stock in a transaction on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $444,718.47. Following the completion of the transaction, the chief technology officer owned 4,560,291 shares of the company's stock, valued at approximately $396,334,890.81. The trade was a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,913 shares of company stock valued at $4,416,324 in the last ninety days. 12.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ESTC has been the subject of several research analyst reports. Jefferies Financial Group boosted their price objective on Elastic from $110.00 to $125.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Mizuho boosted their price objective on Elastic from $100.00 to $119.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Canaccord Genuity Group boosted their price objective on Elastic from $110.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Monness Crespi & Hardt boosted their price target on Elastic from $111.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Finally, Cowen reissued a "hold" rating on shares of Elastic in a report on Friday, August 29th. One investment 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $120.00.

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.