Capital Analysts LLC Takes Position in Elastic (NYSE:ESTC)

Capital Analysts LLC acquired a new stake in Elastic (NYSE:ESTC) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 877 shares of the company’s stock, valued at approximately $98,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ESTC. Total Clarity Wealth Management Inc. purchased a new position in shares of Elastic in the 1st quarter valued at about $26,000. Jackson Grant Investment Advisers Inc. acquired a new stake in shares of Elastic in the 4th quarter valued at about $44,000. Defined Wealth Management LLC acquired a new stake in shares of Elastic in the 4th quarter valued at about $49,000. TFO TDC LLC acquired a new stake in shares of Elastic in the 1st quarter valued at about $52,000. Finally, Exchange Traded Concepts LLC boosted its position in shares of Elastic by 412.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 928 shares of the company’s stock valued at $103,000 after purchasing an additional 747 shares during the period. Institutional investors and hedge funds own 76.58% of the company’s stock.

A number of brokerages recently issued reports on ESTC. Canaccord Genuity decreased their target price on Elastic from $175.00 to $155.00 and set a “buy” rating for the company in a research report on Thursday, June 3rd. Royal Bank of Canada increased their price objective on Elastic from $183.00 to $194.00 and gave the stock an “outperform” rating in a research report on Thursday, June 3rd. Summit Insights assumed coverage on Elastic in a research report on Sunday, June 20th. They set a “buy” rating and a $180.00 price objective for the company. Monness Crespi & Hardt increased their price objective on Elastic from $200.00 to $212.00 and gave the stock a “buy” rating in a research report on Thursday, June 3rd. Finally, Barclays decreased their price objective on Elastic from $200.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, June 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $170.52.

In other Elastic news, CFO Janesh Moorjani sold 14,733 shares of the business’s stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $116.40, for a total transaction of $1,714,921.20. Following the transaction, the chief financial officer now owns 51,843 shares in the company, valued at $6,034,525.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP W.H. Baird Garrett sold 192 shares of the business’s stock in a transaction dated Wednesday, June 9th. The stock was sold at an average price of $133.45, for a total value of $25,622.40. Following the transaction, the senior vice president now owns 38,098 shares in the company, valued at approximately $5,084,178.10. The disclosure for this sale can be found here. Insiders sold 26,147 shares of company stock worth $3,217,675 in the last quarter. 25.20% of the stock is owned by insiders.

ESTC stock opened at $144.25 on Thursday. Elastic has a 52-week low of $80.18 and a 52-week high of $176.49. The business’s fifty day simple moving average is $133.89. The firm has a market capitalization of $13.20 billion, a PE ratio of -97.47 and a beta of 1.08.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Tuesday, June 1st. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.08. Elastic had a negative return on equity of 23.15% and a negative net margin of 21.27%. The business had revenue of $177.60 million for the quarter, compared to analysts’ expectations of $158.87 million. During the same quarter last year, the firm earned ($0.12) earnings per share. The business’s revenue was up 43.7% on a year-over-year basis. Equities research analysts anticipate that Elastic will post -1.71 earnings per share for the current fiscal year.

About Elastic

Elastic N.V., a search company, delivers technology that enables users to search through structured and unstructured data for a range of consumer and enterprise applications. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as perform search, analysis, and visualization.

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Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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