Y Intercept Hong Kong Ltd Boosts Position in Elastic N.V. (NYSE:ESTC)

Y Intercept Hong Kong Ltd lifted its holdings in shares of Elastic N.V. (NYSE:ESTC - Free Report) by 47.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,354 shares of the company's stock after buying an additional 7,467 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Elastic were worth $2,081,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Signaturefd LLC raised its stake in Elastic by 53.7% in the 1st quarter. Signaturefd LLC now owns 335 shares of the company's stock valued at $30,000 after purchasing an additional 117 shares during the last quarter. Parallel Advisors LLC raised its stake in Elastic by 4.5% in the 1st quarter. Parallel Advisors LLC now owns 3,396 shares of the company's stock valued at $303,000 after purchasing an additional 145 shares during the last quarter. WCM Investment Management LLC raised its stake in Elastic by 0.7% in the 1st quarter. WCM Investment Management LLC now owns 23,811 shares of the company's stock valued at $2,183,000 after purchasing an additional 169 shares during the last quarter. Resolute Advisors LLC raised its stake in Elastic by 7.1% in the 4th quarter. Resolute Advisors LLC now owns 3,255 shares of the company's stock valued at $323,000 after purchasing an additional 217 shares during the last quarter. Finally, Guggenheim Capital LLC raised its stake in Elastic by 3.3% in the 4th quarter. Guggenheim Capital LLC now owns 7,278 shares of the company's stock valued at $721,000 after purchasing an additional 230 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Elastic Trading Up 1.5%

NYSE ESTC traded up $1.30 during trading on Friday, hitting $90.01. The stock had a trading volume of 1,185,991 shares, compared to its average volume of 1,241,274. The company has a market capitalization of $9.50 billion, a PE ratio of -85.72 and a beta of 1.07. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average price of $86.04 and a 200 day moving average price of $92.57. Elastic N.V. has a twelve month low of $69.00 and a twelve month high of $118.84.

Elastic (NYSE:ESTC - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.10. The company had revenue of $388.43 million during the quarter, compared to the consensus estimate of $380.61 million. Elastic had a negative return on equity of 4.46% and a negative net margin of 7.29%. Elastic's revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 EPS. As a group, equities research analysts forecast that Elastic N.V. will post -0.77 earnings per share for the current year.

Wall Street Analyst Weigh In

ESTC has been the subject of several recent research reports. Guggenheim reduced their price objective on Elastic from $136.00 to $107.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Piper Sandler reduced their price objective on Elastic from $135.00 to $120.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Truist Financial reduced their price objective on Elastic from $145.00 to $140.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Morgan Stanley cut their target price on Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Robert W. Baird cut their target price on Elastic from $125.00 to $115.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. Eight equities research 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 data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $112.72.

Insiders Place Their Bets

In other news, CTO Shay Banon sold 5,117 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 value of $444,718.47. Following the completion of the transaction, the chief technology officer owned 4,560,291 shares in the company, valued at approximately $396,334,890.81. This trade represents a 0.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Mark Eugene Dodds sold 5,514 shares of Elastic stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $479,221.74. Following the completion of the transaction, the executive owned 165,443 shares of the company's stock, valued at $14,378,651.13. The trade was a 3.23% 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 worth $4,416,324. Corporate insiders own 15.90% of the company's stock.

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.