Tredje AP fonden Has $21.06 Million Position in Elastic N.V. $ESTC

Tredje AP fonden lifted its stake in shares of Elastic N.V. (NYSE:ESTC) by 1,894.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 249,308 shares of the company’s stock after purchasing an additional 236,811 shares during the quarter. Tredje AP fonden owned 0.23% of Elastic worth $21,064,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ESTC. Geneos Wealth Management Inc. bought a new stake in shares of Elastic during the second quarter worth $31,000. Huntington National Bank lifted its stake in shares of Elastic by 97.5% in the 2nd quarter. Huntington National Bank now owns 468 shares of the company’s stock valued at $39,000 after acquiring an additional 231 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in shares of Elastic during the 2nd quarter valued at $40,000. Promus Capital LLC bought a new stake in Elastic during the 2nd quarter worth $45,000. Finally, True Wealth Design LLC grew its position in Elastic by 391.2% during the 3rd quarter. True Wealth Design LLC now owns 673 shares of the company’s stock worth $57,000 after acquiring an additional 536 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Trading Down 6.5%

NYSE:ESTC opened at $58.00 on Friday. Elastic N.V. has a 12 month low of $56.69 and a 12 month high of $117.49. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of -56.31, a PEG ratio of 252.45 and a beta of 0.93. The firm has a fifty day simple moving average of $70.32 and a two-hundred day simple moving average of $78.53. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.64.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, November 20th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.06. Elastic had a negative net margin of 6.79% and a negative return on equity of 2.02%. The firm had revenue of $423.48 million for the quarter, compared to the consensus estimate of $418.27 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. The business’s revenue was up 15.9% on a year-over-year basis. Analysts expect that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ESTC shares. Rosenblatt Securities cut their price target on Elastic from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Stifel Nicolaus dropped their price objective on shares of Elastic from $134.00 to $108.00 and set a “buy” rating for the company in a report on Friday, November 21st. JPMorgan Chase & Co. reduced their target price on shares of Elastic from $113.00 to $98.00 and set an “overweight” rating on the stock in a report on Friday. Wells Fargo & Company decreased their price target on shares of Elastic from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, November 21st. Finally, DA Davidson dropped their price target on shares of Elastic from $100.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, November 21st. Seventeen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Elastic has an average rating of “Moderate Buy” and a consensus price target of $102.17.

Insider Buying and Selling 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 transaction of $401,742.65. Following the transaction, the insider directly owned 89,324 shares of the company’s stock, valued at $6,703,766.20. The trade was a 5.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul R. Auvil III purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were purchased at an average cost of $71.02 per share, for a total transaction of $710,200.00. Following the completion of the transaction, the director directly owned 37,956 shares of the company’s stock, valued at $2,695,635.12. This represents a 35.77% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders sold 61,828 shares of company stock worth $4,641,010. 12.70% of the stock is currently owned by insiders.

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.