Swedbank AB Purchases 25,000 Shares of Elastic N.V. $ESTC

Key Points

• Swedbank AB increased its stake in Elastic N.V. by 83.3%, acquiring a total of 55,004 shares valued at approximately $4.90 million.
• Several institutional investors have also modified their holdings in Elastic, with institutional ownership now at 97.03%.
• Analysts have set an average price target of $120.00 for Elastic, with a mix of ratings including one Strong Buy, twenty-one Buy, and nine Hold ratings.

Swedbank AB grew its holdings in Elastic N.V. (NYSE:ESTC - Free Report) by 83.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,004 shares of the company's stock after buying an additional 25,000 shares during the quarter. Swedbank AB owned approximately 0.05% of Elastic worth $4,901,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ESTC. Fourth Dimension Wealth LLC acquired a new stake in Elastic in the fourth quarter worth about $26,000. Cloud Capital Management LLC bought a new position in Elastic during the first quarter worth about $25,000. Signaturefd LLC boosted its holdings in Elastic by 53.7% during the first quarter. Signaturefd LLC now owns 335 shares of the company's stock worth $30,000 after buying an additional 117 shares during the last quarter. North Capital Inc. bought a new position in Elastic during the first quarter worth about $37,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Elastic by 53.7% during the first quarter. Smartleaf Asset Management LLC now owns 435 shares of the company's stock worth $40,000 after buying an additional 152 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Elastic

In other news, CFO Navam Welihinda sold 3,489 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $314,428.68. Following the completion of 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Carolyn Herzog sold 5,143 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $463,487.16. Following the completion of the sale, the insider directly owned 94,677 shares of the company's stock, valued at approximately $8,532,291.24. The trade was a 5.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 352,036 shares of company stock worth $31,080,886 over the last quarter. 12.70% of the stock is currently owned by company insiders.

Elastic Price Performance

Shares of ESTC stock traded down $0.48 on Friday, hitting $89.16. 2,577,087 shares of the company's stock were exchanged, compared to its average volume of 2,405,571. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.09 and a quick ratio of 2.09. Elastic N.V. has a 12 month low of $70.14 and a 12 month high of $118.84. The stock has a market cap of $9.48 billion, a P/E ratio of -111.45 and a beta of 1.04. The company has a 50 day moving average of $83.74 and a 200 day moving average of $85.80.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. DA Davidson assumed coverage on Elastic in a report on Friday, August 29th. They set a "neutral" rating and a $105.00 price objective on the stock. Royal Bank Of Canada lifted their target price on Elastic from $106.00 to $125.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Monness Crespi & Hardt lifted their target price on Elastic from $111.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Cantor Fitzgerald reissued a "neutral" rating on shares of Elastic in a research report on Friday, August 29th. Finally, Mizuho lifted their target price on Elastic from $100.00 to $119.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $120.00.

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.