35,906 Shares in Elastic (NYSE:ESTC) Acquired by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Elastic (NYSE:ESTC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 35,906 shares of the company's stock, valued at approximately $3,558,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans boosted its stake in shares of Elastic by 187.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,073 shares of the company's stock worth $899,000 after acquiring an additional 5,919 shares during the period. Cetera Investment Advisers increased its stake in Elastic by 13.3% during the fourth quarter. Cetera Investment Advisers now owns 7,203 shares of the company's stock worth $714,000 after acquiring an additional 843 shares during the last quarter. Barclays PLC increased its stake in Elastic by 56.2% during the third quarter. Barclays PLC now owns 153,155 shares of the company's stock worth $11,757,000 after acquiring an additional 55,084 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Elastic by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 7,299 shares of the company's stock valued at $723,000 after buying an additional 241 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Elastic by 0.8% during the fourth quarter. Bank of New York Mellon Corp now owns 482,818 shares of the company's stock valued at $47,838,000 after buying an additional 3,772 shares during the last quarter. Institutional investors own 97.03% of the company's stock.

Insider Buying and Selling

In other news, CRO Mark Eugene Dodds sold 2,755 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $250,071.35. Following the completion of the sale, the executive now directly owns 96,484 shares in the company, valued at $8,757,852.68. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.77, for a total value of $1,700,575.95. Following the completion of the sale, the chief executive officer now owns 376,591 shares of the company's stock, valued at $34,183,165.07. This trade represents a 4.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,507 shares of company stock worth $3,010,071 in the last ninety days. 15.90% of the stock is owned by insiders.

Elastic Stock Performance

Shares of NYSE ESTC traded up $2.60 during mid-day trading on Thursday, reaching $86.43. 2,431,613 shares of the company's stock were exchanged, compared to its average volume of 1,496,904. The firm has a market capitalization of $9.02 billion, a price-to-earnings ratio of 157.15 and a beta of 1.20. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a 50-day moving average price of $84.74 and a two-hundred day moving average price of $97.52.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.10. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The firm had revenue of $388.43 million during the quarter, compared to the consensus estimate of $380.61 million. During the same quarter last year, the company posted $0.21 EPS. The company's revenue for the quarter was up 15.9% on a year-over-year basis. Analysts predict that Elastic will post -0.77 EPS for the current year.

Analyst Ratings Changes

ESTC has been the subject of a number of research reports. Scotiabank lowered their price target on Elastic from $137.00 to $95.00 and set a "sector outperform" rating for the company in a report on Friday, May 30th. Piper Sandler decreased their price objective on Elastic from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Oppenheimer reduced their price objective on Elastic from $140.00 to $120.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company reduced their price objective on Elastic from $150.00 to $120.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Finally, Wedbush dropped their target price on Elastic from $135.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Elastic currently has an average rating of "Moderate Buy" and an average price target of $113.63.

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.