XTX Topco Ltd Purchases 10,300 Shares of Elastic N.V. (NYSE:ESTC)

Key Points

• XTX Topco Ltd significantly increased its stake in Elastic N.V. by 246% during the 1st quarter, now holding 14,487 shares valued at approximately $1.29 million.
• Multiple hedge funds have also ramped up their holdings in Elastic, with Massachusetts Financial Services Co. increasing its position by a staggering 5,437.6% to own over 2.28 million shares.
• Analysts have mixed ratings for Elastic; however, it has received a majority of buy ratings, with an average price target of $112.72.

XTX Topco Ltd boosted its position in Elastic N.V. (NYSE:ESTC - Free Report) by 246.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,487 shares of the company's stock after purchasing an additional 10,300 shares during the period. XTX Topco Ltd's holdings in Elastic were worth $1,291,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ESTC. Sylebra Capital LLC increased its holdings in shares of Elastic by 62.6% in the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock valued at $451,950,000 after buying an additional 1,756,842 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Elastic by 5,437.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company's stock valued at $203,872,000 after buying an additional 2,246,808 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 valued at $142,663,000 after buying an additional 45,076 shares in the last quarter. Soma Equity Partners LP increased its holdings in shares of Elastic by 61.5% in the fourth quarter. Soma Equity Partners LP now owns 989,349 shares of the company's stock valued at $98,025,000 after buying an additional 376,660 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of Elastic by 15.4% in the fourth quarter. Federated Hermes Inc. now owns 884,400 shares of the company's stock valued at $87,626,000 after buying an additional 118,294 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Elastic

In related news, CTO Shay Banon sold 5,117 shares of the business'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 $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 approximately $396,334,890.81. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Mark Eugene Dodds sold 5,514 shares of the business'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 $479,221.74. Following the transaction, the executive directly owned 165,443 shares of the company's stock, valued at approximately $14,378,651.13. This represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,913 shares of company stock valued at $4,416,324. 15.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ESTC has been the subject of a number of recent research reports. Canaccord Genuity Group decreased their price objective on shares of Elastic from $135.00 to $110.00 and set a "buy" rating for the company in a report on Monday, June 2nd. Rosenblatt Securities dropped their price objective on shares of Elastic from $140.00 to $130.00 and set a "buy" rating for the company in a report on Friday, May 30th. Wells Fargo & Company decreased their price target on shares of Elastic from $150.00 to $120.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. JPMorgan Chase & Co. dropped their price objective on shares of Elastic from $120.00 to $110.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. Finally, Wall Street Zen upgraded shares of Elastic from a "hold" rating to a "buy" rating 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 company. According to MarketBeat, Elastic currently has an average rating of "Moderate Buy" and a consensus target price of $112.72.

Elastic Stock Up 1.1%

NYSE ESTC traded up $0.88 on Monday, hitting $80.46. 1,370,634 shares of the company were exchanged, compared to its average volume of 1,198,494. Elastic N.V. has a 12 month low of $69.00 and a 12 month high of $118.84. The company has a market cap of $8.49 billion, a PE ratio of -76.63 and a beta of 1.07. The stock has a fifty day moving average of $85.13 and a 200-day moving average of $91.96. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.61.

Elastic (NYSE:ESTC - Get Free Report) last released its quarterly 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 company had revenue of $388.43 million for the quarter, compared to analyst estimates of $380.61 million. During the same period last year, the firm earned $0.21 earnings per share. The firm's revenue was up 15.9% on a year-over-year basis. As a group, analysts forecast that Elastic N.V. will post -0.77 earnings per share for the current year.

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.