Perpetual Ltd Makes New Investment in Elastic N.V. (NYSE:ESTC)

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ESTC. SBI Securities Co. Ltd. purchased a new stake in shares of Elastic during the 4th quarter worth approximately $25,000. Fourth Dimension Wealth LLC acquired a new position in Elastic during the fourth quarter worth $26,000. Smartleaf Asset Management LLC boosted its position in Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock worth $28,000 after purchasing an additional 158 shares in the last quarter. GAMMA Investing LLC grew its holdings in Elastic by 134.6% in the first quarter. GAMMA Investing LLC now owns 570 shares of the company's stock valued at $51,000 after purchasing an additional 327 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in Elastic by 1,065.2% in the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock valued at $53,000 after purchasing an additional 490 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Jefferies Financial Group cut their target price on shares of Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Robert W. Baird decreased their target price on shares of Elastic from $125.00 to $115.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. Truist Financial dropped their price target on shares of Elastic from $145.00 to $140.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Morgan Stanley decreased their price target on shares of Elastic from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Rosenblatt Securities lowered their price objective on shares of Elastic from $140.00 to $130.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Elastic presently has a consensus rating of "Moderate Buy" and an average target price of $113.52.

Elastic Stock Performance

Shares of NYSE ESTC traded up $0.12 during trading on Wednesday, reaching $83.83. The stock had a trading volume of 946,547 shares, compared to its average volume of 1,533,345. The firm's 50 day moving average price is $86.05 and its two-hundred day moving average price is $94.52. Elastic N.V. has a one year low of $69.00 and a one year high of $123.96. The stock has a market cap of $8.85 billion, a PE ratio of -79.85 and a beta of 1.07. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.92 and a current ratio of 1.92.

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. Elastic had a negative net margin of 7.29% and a negative return on equity of 4.46%. The firm had revenue of $388.43 million during the quarter, compared to analyst estimates of $380.61 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. On average, research analysts forecast that Elastic N.V. will post -0.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Elastic

In related news, CEO Ashutosh Kulkarni sold 22,901 shares of Elastic 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 sale, the chief executive officer directly owned 454,841 shares in the company, valued at $39,530,231.31. This trade represents a 4.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Shay Banon sold 5,117 shares of the company'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 owned 4,560,291 shares of the company's stock, valued at approximately $396,334,890.81. This trade represents a 0.11% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,913 shares of company stock worth $4,416,324. 15.90% of the stock is owned by company insiders.

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.