Picton Mahoney Asset Management Boosts Holdings in Elastic N.V. (NYSE:ESTC)

Key Points

• Picton Mahoney Asset Management increased its stake in Elastic N.V. by 10.5% in the first quarter, holding 53,577 shares worth approximately $4.77 million.
• In the fourth quarter, several institutional investors significantly increased their holdings in Elastic, with Arrowstreet Capital growing its stake by 5,972.4%.
• Elastic reported earnings of $0.47 per share for the last quarter, exceeding analyst estimates, with a year-over-year revenue increase of 15.9%.

Picton Mahoney Asset Management boosted its holdings in Elastic N.V. (NYSE:ESTC - Free Report) by 10.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,577 shares of the company's stock after purchasing an additional 5,077 shares during the quarter. Picton Mahoney Asset Management owned about 0.05% of Elastic worth $4,773,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC raised its position in Elastic by 53.7% in the first quarter. Signaturefd LLC now owns 335 shares of the company's stock worth $30,000 after acquiring an additional 117 shares during the period. Parallel Advisors LLC raised its position in Elastic by 4.5% in the first quarter. Parallel Advisors LLC now owns 3,396 shares of the company's stock worth $303,000 after acquiring an additional 145 shares during the period. WCM Investment Management LLC raised its position in Elastic by 0.7% in the first quarter. WCM Investment Management LLC now owns 23,811 shares of the company's stock worth $2,183,000 after acquiring an additional 169 shares during the period. Resolute Advisors LLC raised its position in 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 period. Finally, Guggenheim Capital LLC lifted its stake in shares of Elastic by 3.3% during the 4th quarter. Guggenheim Capital LLC now owns 7,278 shares of the company's stock valued at $721,000 after buying an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Elastic Stock Down 4.9%

Shares of ESTC traded down $4.07 during mid-day trading on Friday, hitting $79.63. The company's stock had a trading volume of 1,221,653 shares, compared to its average volume of 1,137,408. The company's 50-day moving average is $85.37 and its 200-day moving average is $92.20. Elastic N.V. has a 52-week low of $69.00 and a 52-week high of $118.84. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of -75.84 and a beta of 1.07. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.61.

Elastic (NYSE:ESTC - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.47 EPS for the quarter, topping 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 business posted $0.21 EPS. Elastic's revenue was up 15.9% on a year-over-year basis. On average, equities research analysts forecast that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ashutosh Kulkarni sold 22,901 shares of the company's stock in a transaction on 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 of the company's stock, valued at $39,530,231.31. This represents a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Shay Banon sold 5,117 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $444,718.47. Following the sale, the chief technology officer owned 4,560,291 shares in the company, valued at approximately $396,334,890.81. This represents a 0.11% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,913 shares of company stock worth $4,416,324. Company insiders own 15.90% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ESTC. Stifel Nicolaus lowered their target price on shares of Elastic from $140.00 to $112.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Cantor Fitzgerald lowered their target price on shares of Elastic from $109.00 to $92.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. Rosenblatt Securities lowered their target price on shares of Elastic from $140.00 to $130.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Oppenheimer reduced their price target on shares of Elastic from $120.00 to $100.00 and set an "outperform" rating on the stock in a report on Monday, July 21st. Finally, Scotiabank decreased their price target on shares of Elastic from $137.00 to $95.00 and set a "sector outperform" rating on the stock in a research note on Friday, May 30th. Eight equities research 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 stock. According to data from MarketBeat.com, Elastic presently has an average rating of "Moderate Buy" and an average price target of $112.72.

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.