Wealth Enhancement Advisory Services LLC Invests $1.84 Million in Elastic N.V. (NYSE:ESTC)

Wealth Enhancement Advisory Services LLC acquired a new position in Elastic N.V. (NYSE:ESTC - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 20,594 shares of the company's stock, valued at approximately $1,835,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in shares of Elastic in the 4th quarter worth about $25,000. Fourth Dimension Wealth LLC bought a new stake in Elastic in the fourth quarter worth about $26,000. Smartleaf Asset Management LLC boosted its stake in Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock valued at $28,000 after acquiring an additional 158 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Elastic by 134.6% during the 1st quarter. GAMMA Investing LLC now owns 570 shares of the company's stock valued at $51,000 after acquiring an additional 327 shares during the period. Finally, Troluce Capital Advisors LLC bought a new position in shares of Elastic during the 4th quarter valued at approximately $99,000. Hedge funds and other institutional investors own 97.03% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. KeyCorp started coverage on Elastic in a research note on Tuesday, June 10th. They issued a "sector weight" rating on the stock. Royal Bank Of Canada lowered their target price on Elastic from $119.00 to $115.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. Wall Street Zen raised Elastic from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Barclays decreased their price objective on Elastic from $124.00 to $105.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Finally, Guggenheim dropped their price objective on shares of Elastic from $136.00 to $107.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Elastic has a consensus rating of "Moderate Buy" and an average target price of $113.52.

Insider Activity

In other Elastic news, insider Carolyn Herzog sold 5,702 shares of Elastic stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $495,560.82. Following the completion of the sale, the insider owned 93,985 shares of the company's stock, valued at $8,168,236.35. The trade was a 5.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Shay Banon sold 5,117 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $444,718.47. Following the completion of the transaction, the chief technology officer owned 4,560,291 shares of the company's stock, valued at $396,334,890.81. The trade was a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,913 shares of company stock worth $4,416,324. Corporate insiders own 15.90% of the company's stock.

Elastic Price Performance

Shares of NYSE:ESTC traded up $0.83 on Tuesday, hitting $85.16. The company's stock had a trading volume of 167,412 shares, compared to its average volume of 1,530,036. The company has a market capitalization of $8.99 billion, a PE ratio of -80.92 and a beta of 1.07. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.92 and a quick ratio of 1.92. The company has a 50-day simple moving average of $85.90 and a 200 day simple moving average of $94.59. Elastic N.V. has a 1 year low of $69.00 and a 1 year high of $123.96.

Elastic (NYSE:ESTC - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $388.43 million for the quarter, compared to analysts' expectations of $380.61 million. During the same period in the prior year, the business earned $0.21 earnings per share. Elastic's revenue for the quarter was up 15.9% compared to the same quarter last year. Sell-side analysts forecast that Elastic N.V. will post -0.77 EPS for the current fiscal year.

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.