Versant Capital Management Inc Increases Stock Position in Elastic (NYSE:ESTC)

Versant Capital Management Inc raised its holdings in shares of Elastic (NYSE:ESTC - Free Report) by 2,814.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,293 shares of the company's stock after buying an additional 3,180 shares during the period. Versant Capital Management Inc's holdings in Elastic were worth $293,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ESTC. Vanguard Group Inc. boosted its holdings in Elastic by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company's stock valued at $926,607,000 after acquiring an additional 168,483 shares during the period. Sylebra Capital LLC boosted its stake in shares of Elastic by 62.6% during the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock valued at $451,950,000 after purchasing an additional 1,756,842 shares during the period. Pictet Asset Management Holding SA grew its holdings in shares of Elastic by 15.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock worth $339,820,000 after purchasing an additional 462,974 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Elastic by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company's stock worth $142,663,000 after buying an additional 45,076 shares during the period. Finally, Norges Bank bought a new stake in Elastic during the 4th quarter valued at $102,485,000. 97.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Elastic

In related news, CEO Ashutosh Kulkarni sold 18,735 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the completion of the sale, the chief executive officer now owns 376,591 shares in the company, valued at approximately $34,183,165.07. This trade represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 2,683 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.78, for a total transaction of $243,562.74. Following the sale, the chief technology officer now directly owns 4,535,456 shares of the company's stock, valued at approximately $411,728,695.68. This trade represents a 0.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,507 shares of company stock valued at $3,010,071. Company insiders own 15.90% of the company's stock.

Elastic Stock Up 1.7%

Shares of ESTC traded up $1.39 on Wednesday, hitting $85.10. 626,590 shares of the stock traded hands, compared to its average volume of 1,491,264. Elastic has a one year low of $69.00 and a one year high of $123.96. The company has a market capitalization of $8.89 billion, a PE ratio of 154.73 and a beta of 1.20. The business has a 50 day simple moving average of $84.94 and a 200 day simple moving average of $97.61. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99.

Elastic (NYSE:ESTC - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.10. The firm had revenue of $388.43 million during the quarter, compared to analysts' expectations of $380.61 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The firm's quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 earnings per share. As a group, equities analysts forecast that Elastic will post -0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ESTC shares. Robert W. Baird decreased their price objective on shares of Elastic from $125.00 to $115.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. JPMorgan Chase & Co. reduced their price target on Elastic from $120.00 to $110.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. Jefferies Financial Group lowered their price target on Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Canaccord Genuity Group dropped their price objective on Elastic from $135.00 to $110.00 and set a "buy" rating for the company in a report on Monday. Finally, Wells Fargo & Company cut their price objective on Elastic from $150.00 to $120.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Elastic presently has an average rating of "Moderate Buy" and an average target price of $113.63.

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.