Migdal Insurance & Financial Holdings Ltd. Cuts Holdings in Elastic N.V. (NYSE:ESTC)

Migdal Insurance & Financial Holdings Ltd. lowered its holdings in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 58.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 109,005 shares of the company's stock after selling 150,995 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned 0.10% of Elastic worth $9,712,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ESTC. Raymond James Financial Inc. purchased a new position in Elastic during the 4th quarter valued at $3,019,000. PNC Financial Services Group Inc. lifted its holdings in shares of Elastic by 16.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,111 shares of the company's stock worth $308,000 after buying an additional 437 shares during the period. Avantax Advisory Services Inc. purchased a new stake in shares of Elastic in the 4th quarter worth $1,004,000. Thrivent Financial for Lutherans lifted its holdings in shares of Elastic by 187.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 9,073 shares of the company's stock worth $899,000 after buying an additional 5,919 shares during the period. Finally, Xponance Inc. lifted its holdings in shares of Elastic by 11.5% in the 4th quarter. Xponance Inc. now owns 11,980 shares of the company's stock worth $1,187,000 after buying an additional 1,231 shares during the period. Hedge funds and other institutional investors own 97.03% of the company's stock.

Insider Activity

In related news, CTO Shay Banon sold 5,117 shares of the firm'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 directly owned 4,560,291 shares in the company, valued at $396,334,890.81. This trade represents a 0.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ashutosh Kulkarni sold 22,901 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 $1,990,325.91. Following the transaction, the chief executive officer owned 454,841 shares of the company's stock, valued at $39,530,231.31. This trade represents a 4.79% decrease in their ownership of the stock. 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 90 days. 15.90% of the stock is owned by insiders.

Analyst Ratings Changes

ESTC has been the subject of several recent research reports. KeyCorp initiated coverage on Elastic in a research report on Tuesday, June 10th. They issued a "sector weight" rating for the company. Stifel Nicolaus reduced their price target on Elastic from $140.00 to $112.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Wedbush reduced their price target on Elastic from $135.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday, May 30th. Canaccord Genuity Group reduced their price target on Elastic from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Monday, June 2nd. Finally, JPMorgan Chase & Co. reduced their target price on Elastic from $120.00 to $110.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $113.52.

Elastic Price Performance

ESTC stock traded up $0.49 during mid-day trading on Friday, reaching $86.79. 1,027,598 shares of the company's stock were exchanged, compared to its average volume of 1,547,052. The company has a market cap of $9.16 billion, a price-to-earnings ratio of -82.66 and a beta of 1.07. The stock's 50 day moving average is $86.51 and its 200 day moving average is $93.02. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.92 and a quick ratio of 1.92. Elastic N.V. has a 12-month low of $69.00 and a 12-month high of $118.84.

Elastic (NYSE:ESTC - Get Free Report) last released its 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 return on equity of 4.46% and a negative net margin of 7.29%. The business's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 earnings per share. On average, research analysts expect that Elastic N.V. will post -0.77 EPS for the current year.

Elastic 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.