Principal Financial Group Inc. Purchases 48,660 Shares of Elastic N.V. (NYSE:ESTC)

Principal Financial Group Inc. lifted its stake in Elastic N.V. (NYSE:ESTC - Free Report) by 666.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,959 shares of the company's stock after purchasing an additional 48,660 shares during the period. Principal Financial Group Inc. owned 0.05% of Elastic worth $4,986,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fourth Dimension Wealth LLC acquired a new stake in Elastic during the 4th quarter worth $26,000. GAMMA Investing LLC boosted its position in shares of Elastic by 134.6% during the first quarter. GAMMA Investing LLC now owns 570 shares of the company's stock worth $51,000 after purchasing an additional 327 shares in the last quarter. Troluce Capital Advisors LLC bought a new position in shares of Elastic during the fourth quarter worth $99,000. Quarry LP boosted its position in shares of Elastic by 338.4% during the fourth quarter. Quarry LP now owns 1,188 shares of the company's stock worth $118,000 after purchasing an additional 917 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. bought a new position in shares of Elastic during the fourth quarter worth $119,000. Institutional investors and hedge funds own 97.03% of the company's stock.

Insiders Place Their Bets

In related news, 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 transaction, the chief executive officer owned 454,841 shares in the company, valued at approximately $39,530,231.31. This represents a 4.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Shay Banon sold 5,117 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 transaction of $444,718.47. Following the completion of the transaction, the chief technology officer owned 4,560,291 shares in the company, 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. Insiders have sold 50,913 shares of company stock worth $4,416,324 in the last 90 days. Corporate insiders own 15.90% of the company's stock.

Elastic Stock Performance

Shares of Elastic stock traded up $0.01 during trading on Monday, hitting $86.80. 1,176,024 shares of the stock were exchanged, compared to its average volume of 1,549,570. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of -82.66 and a beta of 1.07. The company has a fifty day moving average price of $86.51 and a 200-day moving average price of $92.93. Elastic N.V. has a 1-year low of $69.00 and a 1-year high of $118.84. 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 released its quarterly earnings data on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.10. The company had revenue of $388.43 million for the quarter, compared to analyst estimates of $380.61 million. Elastic had a negative net margin of 7.29% and a negative return on equity of 4.46%. Elastic's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 EPS. As a group, equities analysts predict that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ESTC has been the topic of a number of recent analyst reports. 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 research report on Monday. DA Davidson reduced their price target on shares of Elastic from $115.00 to $75.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Barclays reduced their price target on shares of Elastic from $124.00 to $105.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Canaccord Genuity Group cut their price objective on shares of Elastic from $135.00 to $110.00 and set a "buy" rating on the stock in a research report on Monday, June 2nd. Finally, Rosenblatt Securities cut their price objective on shares of Elastic from $140.00 to $130.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus 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.