Principal Financial Group Inc. Boosts Position in Elastic N.V. (NYSE:ESTC)

Principal Financial Group Inc. boosted its position in Elastic N.V. (NYSE:ESTC - Free Report) by 666.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 55,959 shares of the company's stock after acquiring 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 reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Sylebra Capital LLC boosted its stake in shares of Elastic by 62.6% during the 4th quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock valued at $451,950,000 after purchasing an additional 1,756,842 shares in the last quarter. Norges Bank purchased a new position in Elastic during the 4th quarter valued at about $102,485,000. Arrowstreet Capital Limited Partnership lifted its position in Elastic by 5,972.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company's stock valued at $73,751,000 after acquiring an additional 732,100 shares during the period. Marshall Wace LLP lifted its position in Elastic by 554.9% during the 4th quarter. Marshall Wace LLP now owns 641,041 shares of the company's stock valued at $63,514,000 after acquiring an additional 543,155 shares during the period. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of Elastic during the fourth quarter valued at approximately $46,031,000. Institutional investors own 97.03% of the company's stock.

Insiders Place Their Bets

In other news, CRO Mark Eugene Dodds sold 2,500 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $83.50, for a total value of $208,750.00. Following the sale, the executive directly owned 172,321 shares in the company, valued at approximately $14,388,803.50. This trade represents a 1.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ashutosh Kulkarni sold 22,901 shares of the firm'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 $1,990,325.91. Following the completion of the sale, the chief executive officer owned 454,841 shares in the company, valued at $39,530,231.31. This represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,913 shares of company stock worth $4,416,324. Insiders own 15.90% of the company's stock.

Elastic Trading Up 0.6%

ESTC stock traded up $0.49 during trading on Friday, hitting $86.79. The company had a trading volume of 1,027,598 shares, compared to its average volume of 1,547,052. The firm has a market capitalization of $9.16 billion, a P/E ratio of -82.66 and a beta of 1.07. Elastic N.V. has a 52-week low of $69.00 and a 52-week high of $118.84. The company has a 50 day simple moving average of $86.51 and a 200-day simple moving average of $93.02. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.61.

Elastic (NYSE:ESTC - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $388.43 million for the quarter, compared to the consensus estimate of $380.61 million. During the same quarter last year, the firm posted $0.21 EPS. The firm's revenue was up 15.9% compared to the same quarter last year. As a group, research analysts forecast that Elastic N.V. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ESTC has been the subject of several recent research reports. KeyCorp assumed coverage on shares of Elastic in a research report on Tuesday, June 10th. They set a "sector weight" rating for the company. Wells Fargo & Company dropped their price target on shares of Elastic from $150.00 to $120.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Scotiabank dropped their price target on shares of Elastic from $137.00 to $95.00 and set a "sector outperform" rating for the company in a research report on Friday, May 30th. TD Securities dropped their price target on shares of Elastic from $125.00 to $105.00 and set a "hold" rating for the company in a research report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Elastic from $120.00 to $110.00 and set an "overweight" rating for the company in a research report on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $113.52.

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.