UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Purchases 12,510 Shares of Elastic N.V. $ESTC

Key Points

• UBS AM increased its stake in Elastic N.V. by 3.0%, owning 429,526 shares valued at approximately $38.3 million after purchasing an additional 12,510 shares in the first quarter.
• Multiple institutional investors, including Bank of New York Mellon and Teacher Retirement System of Texas, have significantly increased their holdings in Elastic during the same period, with approximately 97.03% of the stock owned by institutional investors.
• Elastic's stock price targets were raised by several analysts, with the consensus target at $120.00, indicating a generally positive outlook on the company's financial performance.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 3.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 429,526 shares of the company's stock after acquiring an additional 12,510 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.41% of Elastic worth $38,271,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA boosted its position in Elastic by 5,437.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company's stock valued at $203,872,000 after buying an additional 2,246,808 shares during the last quarter. Sylebra Capital LLC grew its holdings in shares of Elastic by 62.6% in the 4th quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock valued at $451,950,000 after acquiring an additional 1,756,842 shares in the last quarter. AQR Capital Management LLC grew its holdings in Elastic by 6,651.3% during the first quarter. AQR Capital Management LLC now owns 1,403,859 shares of the company's stock worth $122,978,000 after purchasing an additional 1,383,065 shares during the period. Driehaus Capital Management LLC lifted its position in Elastic by 1,450.8% during the first quarter. Driehaus Capital Management LLC now owns 880,454 shares of the company's stock worth $78,448,000 after acquiring an additional 823,680 shares during the last quarter. Finally, Shannon River Fund Management LLC acquired a new stake in shares of Elastic in the first quarter valued at approximately $31,981,000. Institutional investors and hedge funds own 97.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. UBS Group upped their price target on shares of Elastic from $95.00 to $125.00 and gave the company a "buy" rating in a research report on Friday, August 29th. DA Davidson initiated coverage on shares of Elastic in a research report on Friday, August 29th. They set a "neutral" rating and a $105.00 price target for the company. Monness Crespi & Hardt lifted their price objective on shares of Elastic from $111.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, August 29th. 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 research report on Friday, May 30th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $130.00 price objective on shares of Elastic in a report on Friday, August 29th. One 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. According to MarketBeat.com, Elastic has a consensus rating of "Moderate Buy" and an average price target of $120.00.

Insiders Place Their Bets

In other news, CEO Ashutosh Kulkarni sold 19,622 shares of Elastic stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total transaction of $1,768,334.64. Following the completion of the sale, the chief executive officer owned 457,314 shares in the company, valued at $41,213,137.68. The trade was a 4.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ken Exner sold 6,290 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 value of $566,854.80. Following the transaction, the insider owned 233,582 shares in the company, valued at $21,050,409.84. This trade represents a 2.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 352,036 shares of company stock valued at $31,080,886 in the last ninety days. 12.70% of the stock is currently owned by insiders.

Elastic Stock Down 0.5%

NYSE:ESTC traded down $0.48 on Friday, hitting $89.16. 2,577,087 shares of the company's stock traded hands, compared to its average volume of 2,405,571. The company has a market cap of $9.48 billion, a PE ratio of -111.45 and a beta of 1.04. 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 N.V. has a 1 year low of $70.14 and a 1 year high of $118.84. The firm has a 50-day moving average price of $83.74 and a 200-day moving average price of $85.80.

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.