Summit Trail Advisors LLC Takes $590,000 Position in Elastic N.V. (NYSE:ESTC)

Summit Trail Advisors LLC purchased a new stake in Elastic N.V. (NYSE:ESTC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,623 shares of the company's stock, valued at approximately $590,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new position in Elastic during the fourth quarter worth about $25,000. Fourth Dimension Wealth LLC acquired a new position in Elastic during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC increased its stake in Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock valued at $28,000 after purchasing an additional 158 shares in the last quarter. GAMMA Investing LLC raised its holdings in Elastic by 134.6% in the first quarter. GAMMA Investing LLC now owns 570 shares of the company's stock worth $51,000 after purchasing an additional 327 shares during the period. Finally, Troluce Capital Advisors LLC bought a new position in shares of Elastic during the fourth quarter worth $99,000. 97.03% of the stock is currently owned by institutional investors.

Insider Activity at Elastic

In other news, CEO Ashutosh Kulkarni sold 22,901 shares of Elastic stock in a transaction on Monday, June 9th. The stock was 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 of the company's stock, valued at approximately $39,530,231.31. This trade represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Mark Eugene Dodds sold 2,500 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $83.50, for a total transaction of $208,750.00. Following the completion of the sale, the executive directly owned 172,321 shares of the company's stock, valued at approximately $14,388,803.50. The trade was a 1.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,913 shares of company stock valued at $4,416,324. Insiders own 15.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ESTC shares. Rosenblatt Securities lowered their price objective on shares of Elastic from $140.00 to $130.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Cantor Fitzgerald lowered their price target on Elastic from $109.00 to $92.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Robert W. Baird cut their price objective on Elastic from $125.00 to $115.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. Monness Crespi & Hardt raised Elastic from a "neutral" rating to a "buy" rating and set a $111.00 target price for the company in a research note on Friday, June 27th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Elastic from $120.00 to $110.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $113.52.

Elastic Stock Performance

Shares of Elastic stock traded up $0.53 during trading on Wednesday, hitting $84.24. 1,458,180 shares of the stock were exchanged, compared to its average volume of 1,534,912. Elastic N.V. has a 1-year low of $69.00 and a 1-year high of $123.96. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $8.89 billion, a price-to-earnings ratio of -80.23 and a beta of 1.07. The company has a fifty day moving average price of $86.05 and a 200-day moving average price of $94.52.

Elastic (NYSE:ESTC - Get Free Report) last issued its 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 return on equity of 4.46% and a negative net margin of 7.29%. The company had revenue of $388.43 million during the quarter, compared to the consensus estimate of $380.61 million. During the same period in the previous year, the company posted $0.21 EPS. The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, equities analysts predict that Elastic N.V. will post -0.77 EPS for the current fiscal year.

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.