Elastic N.V. $ESTC Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its holdings in Elastic N.V. by 1.0%, selling 5,044 shares and retaining 483,759 shares valued at approximately $43.1 million.
• Multiple analysts have revised their price targets for Elastic, with Rosenblatt Securities lowering its target from $140.00 to $130.00 and Zacks Research downgrading the stock from "strong-buy" to "hold."
• Elastic's recent quarterly earnings showed a profit of $0.47 per share, surpassing estimates, and the company reported revenue growth of 15.9% year-over-year to $388.43 million.

Northern Trust Corp cut its holdings in Elastic N.V. (NYSE:ESTC - Free Report) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 483,759 shares of the company's stock after selling 5,044 shares during the quarter. Northern Trust Corp owned approximately 0.46% of Elastic worth $43,103,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Sylebra Capital LLC raised its holdings in Elastic by 62.6% in the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock worth $451,950,000 after purchasing an additional 1,756,842 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Elastic by 5,437.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company's stock worth $203,872,000 after purchasing an additional 2,246,808 shares in the last quarter. Soma Equity Partners LP raised its holdings in Elastic by 61.5% in the fourth quarter. Soma Equity Partners LP now owns 989,349 shares of the company's stock worth $98,025,000 after purchasing an additional 376,660 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Elastic by 137.1% in the first quarter. Assenagon Asset Management S.A. now owns 604,519 shares of the company's stock worth $53,863,000 after purchasing an additional 349,507 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Elastic by 5.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 594,406 shares of the company's stock worth $52,962,000 after purchasing an additional 31,321 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ESTC. Zacks Research downgraded shares of Elastic from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. DA Davidson assumed coverage on Elastic in a research report on Friday, August 29th. They issued a "neutral" rating and a $105.00 price objective on the stock. Robert W. Baird upped their price objective on Elastic from $105.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Guggenheim increased their target price on Elastic from $107.00 to $122.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Finally, Wedbush decreased their target price on Elastic from $135.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $120.00.

Elastic Trading Up 1.2%

ESTC traded up $1.05 on Wednesday, hitting $86.14. The company had a trading volume of 1,576,901 shares, compared to its average volume of 2,275,193. The firm has a market cap of $9.15 billion, a P/E ratio of -107.67 and a beta of 1.04. Elastic N.V. has a 1 year low of $69.00 and a 1 year high of $118.84. The company's fifty day moving average price is $82.91 and its 200 day moving average price is $87.44. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.61.

Insider Transactions at Elastic

In related news, CTO Shay Banon sold 5,117 shares of the business'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 $444,718.47. Following the sale, the chief technology officer directly owned 4,560,291 shares in the company, valued at approximately $396,334,890.81. The trade was a 0.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Mark Eugene Dodds sold 2,500 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $83.50, for a total transaction of $208,750.00. Following the completion of the sale, the executive owned 172,321 shares in the company, valued at approximately $14,388,803.50. This trade represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,913 shares of company stock worth $4,416,324 in the last 90 days. Insiders own 12.70% of the company's stock.

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.