Elastic N.V. $ESTC Shares Sold by Sylebra Capital LLC

Key Points

• Sylebra Capital LLC reduced its stake in Elastic N.V. by 9%, holding approximately 2.55 million shares, which now accounts for about 11.5% of its portfolio worth $227.43 million.
• Several hedge funds have taken recent actions regarding Elastic shares, with notable increases from Signaturefd LLC and Smartleaf Asset Management LLC, both raising their positions by 53.7%.
• Wall Street analysts are optimistic about Elastic, with several raising their price targets recently; the consensus rating is "Moderate Buy" with an average target price set at $120.00.

Sylebra Capital LLC trimmed its position in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 9.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,552,554 shares of the company's stock after selling 252,066 shares during the quarter. Elastic accounts for approximately 11.5% of Sylebra Capital LLC's investment portfolio, making the stock its 3rd biggest position. Sylebra Capital LLC owned 2.44% of Elastic worth $227,433,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Cloud Capital Management LLC purchased a new position in Elastic in the 1st quarter valued at approximately $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Elastic in the 4th quarter valued at about $26,000. Signaturefd LLC grew its position in Elastic by 53.7% during the 1st quarter. Signaturefd LLC now owns 335 shares of the company's stock worth $30,000 after purchasing an additional 117 shares during the last quarter. North Capital Inc. acquired a new position in Elastic in the 1st quarter valued at about $37,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of 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 purchasing an additional 152 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Piper Sandler raised their target price on Elastic from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, August 29th. Rosenblatt Securities restated a "buy" rating and set a $130.00 price objective on shares of Elastic in a research report on Friday, August 29th. UBS Group lifted their price objective on Elastic from $95.00 to $125.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. JPMorgan Chase & Co. decreased their target price on shares of Elastic from $120.00 to $110.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Finally, Scotiabank reiterated an "outperform" rating on shares of Elastic in a report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Elastic presently has an average rating of "Moderate Buy" and a consensus target price of $120.00.

Elastic Trading Down 1.4%

ESTC traded down $1.27 on Wednesday, reaching $89.92. 1,961,171 shares of the company's stock were exchanged, compared to its average volume of 2,414,201. Elastic N.V. has a twelve month low of $70.14 and a twelve month high of $118.84. The company's 50 day moving average is $83.45 and its 200-day moving average is $86.67. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.59.

Insider Transactions at Elastic

In related news, CRO Mark Eugene Dodds sold 5,037 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 $453,934.44. Following the completion of the transaction, the executive owned 167,284 shares of the company's stock, valued at approximately $15,075,634.08. This represents a 2.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Shay Banon sold 104,326 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $90.34, for a total transaction of $9,424,810.84. Following the sale, the chief technology officer directly owned 4,363,780 shares of the company's stock, valued at $394,223,885.20. The trade was a 2.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 347,036 shares of company stock worth $30,640,286 over the last three months. Insiders own 12.70% of the company's stock.

About Elastic

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.