Wealth Enhancement Advisory Services LLC Acquires New Position in Elastic N.V. (NYSE:ESTC)

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

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

Elastic Stock Performance

ESTC traded up $3.28 during trading on Thursday, hitting $87.48. The stock had a trading volume of 1,212,416 shares, compared to its average volume of 1,534,777. 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 moving average price of $86.18 and a 200-day moving average price of $94.45. Elastic N.V. has a one year low of $69.00 and a one year high of $123.96. The firm has a market cap of $9.23 billion, a price-to-earnings ratio of -83.31 and a beta of 1.07.

Elastic (NYSE:ESTC - Get Free Report) last issued 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. The business had revenue of $388.43 million during the quarter, compared to analysts' expectations of $380.61 million. Elastic had a negative net margin of 7.29% and a negative return on equity of 4.46%. The business's revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 EPS. As a group, research analysts predict that Elastic N.V. will post -0.77 EPS for the current year.

Insider Buying and Selling at Elastic

In related news, insider Ken Exner sold 6,918 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $601,243.38. Following the transaction, the insider owned 230,494 shares in the company, valued at approximately $20,032,233.54. This trade represents a 2.91% 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, CRO Mark Eugene Dodds sold 2,500 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $83.50, for a total value of $208,750.00. Following the completion of the transaction, the executive directly owned 172,321 shares of the company's stock, valued at approximately $14,388,803.50. This trade represents a 1.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,913 shares of company stock valued at $4,416,324 over the last ninety days. 15.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ESTC has been the topic of a number of research reports. Stifel Nicolaus cut their price target on shares of Elastic from $140.00 to $112.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. Canaccord Genuity Group dropped their price objective on shares of Elastic from $135.00 to $110.00 and set a "buy" rating on the stock in a report on Monday, June 2nd. Rosenblatt Securities reduced their target price on shares of Elastic from $140.00 to $130.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Truist Financial lowered their target price on Elastic from $145.00 to $140.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, Wells Fargo & Company dropped their price target on Elastic from $150.00 to $120.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $113.52.

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.