Scientech Research LLC Acquires New Position in Elastic N.V. $ESTC

Scientech Research LLC acquired a new position in Elastic N.V. (NYSE:ESTC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,866 shares of the company's stock, valued at approximately $879,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Sylebra Capital LLC increased its stake in shares of Elastic by 62.6% in the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock worth $451,950,000 after acquiring an additional 1,756,842 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Elastic by 5,437.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company's stock worth $203,872,000 after acquiring an additional 2,246,808 shares during the period. AQR Capital Management LLC increased its stake in shares of Elastic by 6,651.3% in the first quarter. AQR Capital Management LLC now owns 1,403,859 shares of the company's stock worth $122,978,000 after acquiring an additional 1,383,065 shares during the period. RGM Capital LLC increased its stake in shares of Elastic by 38.1% in the first quarter. RGM Capital LLC now owns 1,197,030 shares of the company's stock worth $106,655,000 after acquiring an additional 330,290 shares during the period. Finally, Soma Equity Partners LP grew its position in Elastic by 61.5% during the fourth quarter. Soma Equity Partners LP now owns 989,349 shares of the company's stock valued at $98,025,000 after buying an additional 376,660 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

Insider Activity

In related news, insider Carolyn Herzog sold 5,143 shares of the firm's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total transaction of $463,487.16. Following the completion of the sale, the insider directly owned 94,677 shares in the company, valued at approximately $8,532,291.24. This trade represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Navam Welihinda sold 3,489 shares of Elastic stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total transaction of $314,428.68. Following the sale, the chief financial officer owned 130,436 shares of the company's stock, valued at approximately $11,754,892.32. This represents a 2.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 347,036 shares of company stock valued at $30,640,286 in the last quarter. Insiders own 12.70% of the company's stock.

Wall Street Analyst Weigh In

ESTC has been the topic of several analyst reports. Piper Sandler raised their price target on shares of Elastic from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. DA Davidson assumed coverage on shares of Elastic in a research report on Friday, August 29th. They set a "neutral" rating and a $105.00 price target on the stock. Mizuho increased their price objective on shares of Elastic from $100.00 to $119.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Wedbush decreased their price objective on shares of Elastic from $135.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. Finally, Wells Fargo & Company decreased their price objective on shares of Elastic from $150.00 to $120.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Elastic has a consensus rating of "Moderate Buy" and a consensus price target of $120.00.

Elastic Trading Down 1.6%

Elastic stock traded down $1.45 during midday trading on Friday, hitting $87.61. 2,100,983 shares of the stock were exchanged, compared to its average volume of 2,427,491. Elastic N.V. has a fifty-two week low of $70.14 and a fifty-two week high of $118.84. The stock has a market capitalization of $9.31 billion, a price-to-earnings ratio of -109.51 and a beta of 1.04. The stock's 50-day simple moving average is $83.49 and its 200 day simple moving average is $86.34. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.59.

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.