Natixis Advisors LLC Acquires New Shares in Elastic N.V. (NYSE:ESTC)

Key Points

• Natixis Advisors LLC purchased a new stake in Elastic N.V., acquiring 12,688 shares valued at approximately $1,131,000 during the first quarter.
• Elastic's stock saw analysts downgrade target prices, with Cantor Fitzgerald reducing theirs from $109.00 to $92.00, alongside others lowering their estimates.
• The company's quarterly earnings surpassed expectations, reporting an EPS of $0.47 against a consensus estimate of $0.37, along with a revenue of $388.43 million.

Natixis Advisors LLC bought a new position in shares of Elastic N.V. (NYSE:ESTC - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 12,688 shares of the company's stock, valued at approximately $1,131,000.

A number of other large investors also recently bought and sold shares of ESTC. Cloud Capital Management LLC bought a new stake in Elastic during the 1st quarter valued at $25,000. Fourth Dimension Wealth LLC bought a new stake in Elastic during the 4th quarter valued at $26,000. Signaturefd LLC raised its stake in Elastic by 53.7% during the 1st 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 Elastic during the 1st quarter valued at $37,000. Finally, GAMMA Investing LLC raised its stake in Elastic by 134.6% during the 1st 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.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Morgan Stanley cut their target price on Elastic from $140.00 to $120.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Wall Street Zen raised Elastic from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Wedbush cut their target price on Elastic from $135.00 to $110.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. TD Securities lowered their price target on Elastic from $125.00 to $105.00 and set a "hold" rating on the stock in a research report on Wednesday, May 21st. Finally, Guggenheim lowered their price target on Elastic from $136.00 to $107.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Eight 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, Elastic has an average rating of "Moderate Buy" and an average price target of $112.72.

Insider Buying and Selling at Elastic

In related 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 transaction of $1,990,325.91. Following the completion of the sale, the chief executive officer owned 454,841 shares of the company's stock, valued at approximately $39,530,231.31. This trade represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ken Exner sold 6,918 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 $601,243.38. Following the sale, the insider directly owned 230,494 shares of the company's stock, valued at approximately $20,032,233.54. The trade was a 2.91% 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. Company insiders own 15.90% of the company's stock.

Elastic Stock Up 0.9%

Shares of ESTC stock traded up $0.62 on Tuesday, reaching $73.16. 1,661,544 shares of the company's stock traded hands, compared to its average volume of 1,321,911. Elastic N.V. has a 12-month low of $69.00 and a 12-month 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 company has a market capitalization of $7.72 billion, a P/E ratio of -69.68 and a beta of 1.07. The business's 50 day moving average price is $83.79 and its two-hundred day moving average price is $90.95.

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 analysts' consensus estimates of $0.37 by $0.10. Elastic had a negative return on equity of 4.46% and a negative net margin of 7.29%. The business had revenue of $388.43 million for the quarter, compared to the consensus estimate of $380.61 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. Elastic's revenue for the quarter was up 15.9% compared to the same quarter last year. On average, equities analysts forecast that Elastic N.V. will post -0.77 earnings per share for the current year.

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.