9,884 Shares in Elastic (NYSE:ESTC) Bought by Merit Financial Group LLC

Merit Financial Group LLC purchased a new stake in Elastic (NYSE:ESTC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,884 shares of the company's stock, valued at approximately $881,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC purchased a new stake in Elastic during the 4th quarter worth about $202,000. Stratos Wealth Partners LTD. bought a new stake in shares of Elastic during the fourth quarter valued at about $444,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Elastic in the fourth quarter worth about $231,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Elastic by 22.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,639 shares of the company's stock valued at $1,054,000 after acquiring an additional 1,924 shares during the period. Finally, Savant Capital LLC bought a new position in shares of Elastic in the fourth quarter valued at approximately $7,212,000. Institutional investors own 97.03% of the company's stock.

Insider Transactions at Elastic

In other news, CFO Navam Welihinda sold 2,261 shares of the firm'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 $196,503.51. Following the completion of the sale, the chief financial officer now directly owns 133,925 shares of the company's stock, valued at approximately $11,639,421.75. This trade represents a 1.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $1,990,325.91. Following the completion of the transaction, the chief executive officer now directly owns 454,841 shares of the company's stock, valued at approximately $39,530,231.31. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,413 shares of company stock worth $4,720,774. 15.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Rosenblatt Securities lowered their price objective on Elastic from $140.00 to $130.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. UBS Group raised their price target on Elastic from $140.00 to $148.00 and gave the company a "buy" rating in a report on Friday, February 28th. Wells Fargo & Company cut their price objective on Elastic from $150.00 to $120.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Oppenheimer decreased their price objective on shares of Elastic from $140.00 to $120.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Finally, Barclays dropped their target price on shares of Elastic from $124.00 to $105.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Eight equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Elastic has an average rating of "Moderate Buy" and an average target price of $113.63.

Elastic Trading Up 0.1%

Elastic stock traded up $0.12 during trading hours on Thursday, reaching $83.29. The stock had a trading volume of 1,142,963 shares, compared to its average volume of 1,501,392. The company has a fifty day simple moving average of $84.71 and a 200-day simple moving average of $97.25. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. The stock has a market cap of $8.70 billion, a PE ratio of 151.44 and a beta of 1.07. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99.

Elastic (NYSE:ESTC - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.10. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The company had revenue of $388.43 million during the quarter, compared to analyst estimates of $380.61 million. During the same period in the prior year, the business posted $0.21 earnings per share. Elastic's revenue for the quarter was up 15.9% on a year-over-year basis. Analysts forecast that Elastic will post -0.77 EPS for the current fiscal year.

About Elastic

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.