Vanguard Group Inc. Has $862.32 Million Stock Position in Elastic N.V. $ESTC

Vanguard Group Inc. raised its stake in Elastic N.V. (NYSE:ESTC) by 7.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,206,204 shares of the company’s stock after acquiring an additional 705,991 shares during the quarter. Vanguard Group Inc. owned about 0.10% of Elastic worth $862,322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Geneos Wealth Management Inc. acquired a new position in shares of Elastic during the second quarter worth approximately $31,000. Huntington National Bank increased its holdings in shares of Elastic by 97.5% in the second quarter. Huntington National Bank now owns 468 shares of the company’s stock valued at $39,000 after purchasing an additional 231 shares in the last quarter. Plato Investment Management Ltd bought a new position in Elastic in the 2nd quarter worth approximately $40,000. Promus Capital LLC bought a new position in Elastic in the 2nd quarter worth approximately $45,000. Finally, True Wealth Design LLC lifted its holdings 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 buying an additional 536 shares in the last quarter. 97.03% of the stock is owned by institutional investors.

Elastic Price Performance

NYSE ESTC opened at $58.00 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.97 and a current ratio of 1.97. Elastic N.V. has a 52-week low of $56.69 and a 52-week high of $117.49. The business has a 50 day simple moving average of $70.32 and a 200 day simple moving average of $78.51. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of -56.31, a PEG ratio of 236.42 and a beta of 0.93.

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

Insider Transactions at Elastic

In other news, insider Ken Exner sold 6,544 shares of Elastic stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total value of $491,127.20. Following the sale, the insider directly owned 227,038 shares in the company, valued at $17,039,201.90. This trade represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Shay Banon sold 4,552 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total transaction of $341,627.60. Following the transaction, the chief technology officer owned 4,359,228 shares of the company’s stock, valued at $327,160,061.40. The trade was a 0.10% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 61,828 shares of company stock worth $4,641,010. Corporate insiders own 12.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ESTC. Wells Fargo & Company lowered their target price on Elastic from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, November 21st. Truist Financial decreased their price target on Elastic from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. UBS Group lowered their price objective on Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 21st. Barclays cut their target price on shares of Elastic from $107.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. Finally, DA Davidson reduced their target price on shares of Elastic from $100.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, November 21st. Seventeen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $102.17.

About Elastic

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.