Perpetual Ltd Invests $445,000 in Elastic N.V. (NYSE:ESTC)

Perpetual Ltd acquired a new position in shares of Elastic N.V. (NYSE:ESTC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,999 shares of the company's stock, valued at approximately $445,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in Elastic by 4.5% in the 1st quarter. Parallel Advisors LLC now owns 3,396 shares of the company's stock worth $303,000 after buying an additional 145 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock worth $28,000 after acquiring an additional 158 shares during the last quarter. Resolute Advisors LLC grew its stake in shares of Elastic by 7.1% in the fourth quarter. Resolute Advisors LLC now owns 3,255 shares of the company's stock worth $323,000 after acquiring an additional 217 shares during the last quarter. Guggenheim Capital LLC increased its position in Elastic by 3.3% during the fourth quarter. Guggenheim Capital LLC now owns 7,278 shares of the company's stock worth $721,000 after acquiring an additional 230 shares during the period. Finally, MetLife Investment Management LLC raised its stake in Elastic by 4.6% during the 4th quarter. MetLife Investment Management LLC now owns 5,365 shares of the company's stock valued at $532,000 after purchasing an additional 237 shares during the last quarter. Institutional investors own 97.03% of the company's stock.

Elastic Trading Up 0.2%

ESTC stock opened at $82.75 on Friday. The business has a fifty day moving average price of $85.73 and a 200 day moving average price of $94.82. 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 fifty-two week low of $69.00 and a fifty-two week high of $123.96. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of -78.81 and a beta of 1.07.

Elastic (NYSE:ESTC - Get Free Report) last announced its 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. The company had revenue of $388.43 million during the quarter, compared to analyst estimates of $380.61 million. Elastic had a negative return on equity of 4.46% and a negative net margin of 7.29%. The firm's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company posted $0.21 earnings per share. Analysts expect that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Cantor Fitzgerald decreased their price target on shares of Elastic from $109.00 to $92.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Wells Fargo & Company decreased their target price on Elastic from $150.00 to $120.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Scotiabank lowered their price target on Elastic from $137.00 to $95.00 and set a "sector outperform" rating on the stock in a research note on Friday, May 30th. Morgan Stanley cut their price target on Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Royal Bank Of Canada reduced their price objective on Elastic from $119.00 to $115.00 and set an "outperform" 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-one have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Elastic presently has an average rating of "Moderate Buy" and an average price target of $113.52.

Insider Buying and Selling

In related news, insider Carolyn Herzog sold 5,702 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 value of $495,560.82. Following the transaction, the insider now owns 93,985 shares in the company, valued at $8,168,236.35. This trade represents a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ashutosh Kulkarni sold 22,901 shares of the company'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 completion of the sale, the chief executive officer now owns 454,841 shares of the company's stock, valued at $39,530,231.31. This represents a 4.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,913 shares of company stock worth $4,416,324 in the last quarter. Insiders own 15.90% 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.

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