Virtu Financial LLC Makes New Investment in Elastic N.V. (NYSE:ESTC)

Key Points

• Virtu Financial LLC has acquired a new stake in Elastic N.V., purchasing 11,085 shares valued at approximately $988,000.
• Analyst ratings for Elastic N.V. show a mixed sentiment with eight analysts giving a hold rating, while twenty-one rated it as a buy, leading to an average rating of "Moderate Buy".
• In the last quarter, insiders sold a total of 50,913 shares of the company's stock, indicating a 15.90% ownership by insiders following these transactions.

Virtu Financial LLC acquired a new position in shares of Elastic N.V. (NYSE:ESTC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,085 shares of the company's stock, valued at approximately $988,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fourth Dimension Wealth LLC purchased a new position in shares of Elastic in the 4th quarter worth approximately $26,000. Cloud Capital Management LLC purchased a new position in shares of Elastic in the 1st quarter worth approximately $25,000. Signaturefd LLC boosted its stake in shares of Elastic by 53.7% in the 1st quarter. Signaturefd LLC now owns 335 shares of the company's stock worth $30,000 after buying an additional 117 shares during the last quarter. North Capital Inc. purchased a new position in shares of Elastic in the 1st quarter worth approximately $37,000. Finally, GAMMA Investing LLC boosted its stake in shares of Elastic by 134.6% in the 1st quarter. GAMMA Investing LLC now owns 570 shares of the company's stock worth $51,000 after buying an additional 327 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ESTC shares. JPMorgan Chase & Co. dropped their price objective on Elastic from $120.00 to $110.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. KeyCorp started coverage on Elastic in a research report on Tuesday, June 10th. They set a "sector weight" rating on the stock. UBS Group upgraded Elastic from a "buy" rating to a "strong-buy" rating and dropped their target price for the stock from $148.00 to $95.00 in a research report on Wednesday. Canaccord Genuity Group dropped their target price on Elastic from $135.00 to $110.00 and set a "buy" rating on the stock in a research report on Monday, June 2nd. Finally, Monness Crespi & Hardt raised shares of Elastic from a "neutral" rating to a "buy" rating and set a $111.00 price target on the stock in a report on Friday, June 27th. Eight analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $110.60.

Elastic Stock Up 1.3%

ESTC traded up $0.97 on Friday, hitting $77.39. The company had a trading volume of 1,490,558 shares, compared to its average volume of 1,658,724. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.92 and a quick ratio of 1.92. Elastic N.V. has a 52-week low of $69.00 and a 52-week high of $118.84. The stock has a fifty day simple moving average of $83.44 and a 200-day simple moving average of $90.65. The firm has a market capitalization of $8.17 billion, a P/E ratio of -73.76 and a beta of 1.07.

Elastic (NYSE:ESTC - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.10. Elastic had a negative net margin of 7.29% and a negative return on equity of 4.46%. The business 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 firm earned $0.21 earnings per share. The business's revenue for the quarter was up 15.9% on a year-over-year basis. As a group, equities analysts expect that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Insider Buying and Selling at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 22,901 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $1,990,325.91. Following the completion of the transaction, the chief executive officer owned 454,841 shares of the company's stock, valued at approximately $39,530,231.31. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Carolyn Herzog sold 5,702 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $495,560.82. Following the sale, the insider directly owned 93,985 shares of the company's stock, valued at $8,168,236.35. This trade represents a 5.72% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,913 shares of company stock valued at $4,416,324. 15.90% of the stock is currently owned by company insiders.

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.