Y.D. More Investments Ltd Lowers Stake in Elastic N.V. $ESTC

Y.D. More Investments Ltd lessened its holdings in Elastic N.V. (NYSE:ESTC) by 63.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,557 shares of the company’s stock after selling 16,314 shares during the quarter. Y.D. More Investments Ltd’s holdings in Elastic were worth $832,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ESTC. Vanguard Group Inc. grew its stake in shares of Elastic by 7.4% in the 3rd quarter. Vanguard Group Inc. now owns 10,206,204 shares of the company’s stock worth $862,322,000 after buying an additional 705,991 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in Elastic by 302.1% in the second quarter. Qube Research & Technologies Ltd now owns 932,630 shares of the company’s stock worth $78,649,000 after acquiring an additional 700,697 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Elastic by 305.9% in the second quarter. BNP Paribas Financial Markets now owns 832,353 shares of the company’s stock worth $70,192,000 after acquiring an additional 627,284 shares during the last quarter. Temasek Holdings Private Ltd bought a new position in shares of Elastic during the second quarter valued at $48,115,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Elastic by 972.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 591,015 shares of the company’s stock worth $49,840,000 after purchasing an additional 535,927 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Insider Activity at Elastic

In other Elastic news, insider Carolyn Herzog sold 5,353 shares of Elastic stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total value of $401,742.65. Following the sale, the insider directly owned 89,324 shares in the company, valued at approximately $6,703,766.20. The trade was a 5.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ken Exner sold 6,544 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total transaction of $491,127.20. Following the transaction, the insider directly owned 227,038 shares of the company’s stock, valued at $17,039,201.90. This trade represents a 2.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,828 shares of company stock worth $4,641,010 in the last quarter. 12.70% of the stock is currently owned by insiders.

Elastic Stock Performance

ESTC traded up $1.30 during trading on Friday, hitting $63.36. The company’s stock had a trading volume of 78,986 shares, compared to its average volume of 1,674,828. Elastic N.V. has a one year low of $56.69 and a one year high of $117.49. The business’s 50 day simple moving average is $70.68 and its 200-day simple moving average is $78.69. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.64. The firm has a market cap of $6.68 billion, a PE ratio of -62.05, a P/E/G ratio of 248.26 and a beta of 0.93.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, November 20th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.06. Elastic had a negative return on equity of 2.02% and a negative net margin of 6.79%.The company had revenue of $423.48 million for the quarter, compared to analysts’ expectations of $418.27 million. During the same period last year, the firm earned $0.59 EPS. Elastic’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, sell-side analysts predict that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Analyst Ratings Changes

ESTC has been the topic of several recent analyst reports. Canaccord Genuity Group cut their price objective on shares of Elastic from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Guggenheim reiterated a “buy” rating and set a $116.00 price target on shares of Elastic in a report on Wednesday. Wedbush reduced their price target on shares of Elastic from $110.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, November 21st. Jefferies Financial Group lowered their price objective on Elastic from $105.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Finally, Cantor Fitzgerald reduced their target price on Elastic from $94.00 to $85.00 and set a “neutral” rating for the company in a report on Friday, November 21st. Seventeen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.63.

Elastic Profile

Elastic N.V. operates as a search and analytics company, offering a suite of open source and subscription-based solutions for search, observability and security use cases. Its flagship product, Elasticsearch, enables fast and scalable full-text search and analytics across large volumes of structured and unstructured data. Complementary tools such as Kibana provide visualization capabilities, while Beats and Logstash serve as lightweight data shippers and data processing pipelines, respectively.

The company was founded in 2012 by Shay Banon, who serves as chief technology officer, and Steven Schuurman.