Voya Investment Management LLC Has $194.93 Million Position in Elastic N.V. $ESTC

Key Points

• Voya Investment Management LLC has reduced its stake in Elastic N.V. by 27%, selling 807,379 shares, and now owns approximately 2.07% of the company worth $194.9 million.
• Insiders, including CTO Shay Banon, sold significant amounts of Elastic stock recently, with Banon's sale totaling over $9.4 million, reflecting a decrease in insider ownership.
• Analysts have a consensus rating of "Moderate Buy" for Elastic shares, with target prices ranging from $120 to $130, suggesting positive growth expectations for the stock.

Voya Investment Management LLC decreased its holdings in Elastic N.V. (NYSE:ESTC - Free Report) by 27.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,187,724 shares of the company's stock after selling 807,379 shares during the quarter. Voya Investment Management LLC owned 2.07% of Elastic worth $194,926,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Cloud Capital Management LLC purchased a new stake in shares of Elastic during the first quarter valued at $25,000. Fourth Dimension Wealth LLC acquired a new position in Elastic in the 4th quarter worth approximately $26,000. Signaturefd LLC boosted its stake in Elastic by 53.7% in the 1st quarter. Signaturefd LLC now owns 335 shares of the company's stock worth $30,000 after purchasing an additional 117 shares during the period. North Capital Inc. acquired a new position in Elastic in the 1st quarter worth approximately $37,000. Finally, Smartleaf Asset Management LLC boosted its stake in Elastic by 53.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company's stock worth $40,000 after purchasing an additional 152 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

Insider Transactions at Elastic

In other news, CTO Shay Banon sold 104,326 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $90.34, for a total transaction of $9,424,810.84. Following the transaction, the chief technology officer directly owned 4,363,780 shares in the company, valued at approximately $394,223,885.20. This represents a 2.33% 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 5,143 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 transaction of $463,487.16. Following the transaction, the insider owned 94,677 shares in the company, valued at $8,532,291.24. The trade was a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 352,036 shares of company stock valued at $31,080,886. 12.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on ESTC. Scotiabank reissued an "outperform" rating on shares of Elastic in a research note on Friday, August 29th. Royal Bank Of Canada lifted their price objective on shares of Elastic from $106.00 to $125.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Robert W. Baird lifted their target price on shares of Elastic from $105.00 to $120.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Stifel Nicolaus lifted their target price on shares of Elastic from $112.00 to $134.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Finally, UBS Group lifted their target price on shares of Elastic from $95.00 to $125.00 and gave the stock a "buy" rating in a report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $120.00.

Elastic Price Performance

NYSE ESTC traded up $1.59 on Wednesday, reaching $88.13. The company's stock had a trading volume of 565,602 shares, compared to its average volume of 1,750,096. The firm has a market cap of $9.37 billion, a PE ratio of -110.26 and a beta of 1.04. The business has a 50-day moving average price of $83.54 and a 200 day moving average price of $86.04. Elastic N.V. has a 52 week low of $70.14 and a 52 week high of $118.84. 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 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.