SG Americas Securities LLC Sells 33,520 Shares of Elastic N.V. (NYSE:ESTC)

SG Americas Securities LLC lessened its position in Elastic N.V. (NYSE:ESTC - Free Report) by 45.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,091 shares of the company's stock after selling 33,520 shares during the quarter. SG Americas Securities LLC's holdings in Elastic were worth $3,572,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in shares of Elastic during the fourth quarter worth $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Elastic in the fourth quarter valued at about $26,000. Venturi Wealth Management LLC lifted its stake in Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock valued at $27,000 after purchasing an additional 238 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Elastic by 126.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock worth $28,000 after buying an additional 158 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Elastic by 134.6% in the 1st 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 period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Elastic

In other news, CRO Mark Eugene Dodds sold 5,514 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $479,221.74. Following the completion of the transaction, the executive now owns 165,443 shares in the company, valued at $14,378,651.13. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Navam Welihinda sold 2,261 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 $196,503.51. Following the transaction, the chief financial officer now directly owns 133,925 shares in the company, valued at approximately $11,639,421.75. The trade was a 1.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,413 shares of company stock valued at $4,720,774. 15.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TD Securities decreased their price target on Elastic from $125.00 to $105.00 and set a "hold" rating on the stock in a research note on Wednesday, May 21st. Piper Sandler dropped their price objective on shares of Elastic from $135.00 to $120.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. KeyCorp initiated coverage on Elastic in a research report on Tuesday, June 10th. They set a "sector weight" rating for the company. Truist Financial cut their price target on Elastic from $145.00 to $140.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, Barclays cut their target price on shares of Elastic from $124.00 to $105.00 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 have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Elastic currently has an average rating of "Moderate Buy" and an average price target of $113.63.

Elastic Stock Up 3.6%

ESTC stock traded up $2.92 on Tuesday, reaching $84.10. 1,949,266 shares of the company traded hands, compared to its average volume of 1,520,633. The firm has a fifty day simple moving average of $85.20 and a 200-day simple moving average of $96.36. The company has a market cap of $8.88 billion, a P/E ratio of -80.10 and a beta of 1.07. Elastic N.V. has a one year low of $69.00 and a one year high of $123.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.92 and a quick ratio of 1.92.

Elastic (NYSE:ESTC - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.10. The firm had revenue of $388.43 million for the quarter, compared to analysts' expectations of $380.61 million. Elastic had a negative return on equity of 4.46% and a negative net margin of 7.29%. The company's quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 earnings per share. Research analysts anticipate that Elastic N.V. will post -0.77 earnings per share for the current year.

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.