Vanderbilt University Buys 7,113 Shares of Elastic N.V. $ESTC

Key Points

• Vanderbilt University increased its holdings in Elastic N.V. by 12.2% during the second quarter, now owning 65,485 shares worth approximately $5.5 million.
• Institutional investors now own 97.03% of Elastic's stock, indicating strong institutional confidence in the company.
• CEO Ashutosh Kulkarni sold 19,622 shares of Elastic for over $1.76 million, reducing his ownership by 4.11% in a recent insider transaction.

Vanderbilt University grew its holdings in Elastic N.V. (NYSE:ESTC - Free Report) by 12.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 65,485 shares of the company's stock after acquiring an additional 7,113 shares during the quarter. Elastic accounts for approximately 1.0% of Vanderbilt University's investment portfolio, making the stock its 19th biggest position. Vanderbilt University owned about 0.06% of Elastic worth $5,522,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ESTC. Massachusetts Financial Services Co. MA boosted its position in shares of Elastic by 5,437.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company's stock valued at $203,872,000 after acquiring an additional 2,246,808 shares during the period. AQR Capital Management LLC boosted its position in shares of Elastic by 6,651.3% in the first quarter. AQR Capital Management LLC now owns 1,403,859 shares of the company's stock valued at $122,978,000 after acquiring an additional 1,383,065 shares during the period. Driehaus Capital Management LLC boosted its position in shares of Elastic by 1,450.8% in the first quarter. Driehaus Capital Management LLC now owns 880,454 shares of the company's stock valued at $78,448,000 after acquiring an additional 823,680 shares during the period. Shannon River Fund Management LLC bought a new stake in shares of Elastic in the first quarter valued at about $31,981,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Elastic by 137.1% in the first quarter. Assenagon Asset Management S.A. now owns 604,519 shares of the company's stock valued at $53,863,000 after acquiring an additional 349,507 shares during the period. Institutional investors own 97.03% of the company's stock.

Insider Activity

In other news, CEO Ashutosh Kulkarni sold 19,622 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $1,768,334.64. Following the completion of the transaction, the chief executive officer owned 457,314 shares of the company's stock, valued at $41,213,137.68. This represents a 4.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Mark Eugene Dodds sold 5,037 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $453,934.44. Following the completion of the transaction, the executive directly owned 167,284 shares of the company's stock, valued at $15,075,634.08. This represents a 2.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 349,536 shares of company stock valued at $30,872,136. Corporate insiders own 12.70% of the company's stock.

Elastic Stock Up 1.1%

Shares of NYSE ESTC opened at $87.61 on Friday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.59. The company has a market cap of $9.31 billion, a price-to-earnings ratio of -109.52 and a beta of 1.05. Elastic N.V. has a 12 month low of $70.14 and a 12 month high of $118.84. The stock has a 50-day moving average price of $83.75 and a two-hundred day moving average price of $85.15.

Analyst Ratings Changes

ESTC has been the subject of a number of recent research reports. Rosenblatt Securities reissued a "buy" rating and issued a $130.00 target price on shares of Elastic in a research report on Friday, August 29th. Guggenheim boosted their target price on shares of Elastic from $107.00 to $122.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Morgan Stanley boosted their price target on Elastic from $115.00 to $120.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Royal Bank Of Canada boosted their price target on Elastic from $106.00 to $125.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Finally, UBS Group boosted their price target on Elastic from $95.00 to $125.00 and gave the company a "buy" rating in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $118.80.

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.

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