Elastic N.V. $ESTC Stake Increased by Vanguard Group Inc.

Vanguard Group Inc. increased its holdings in shares of Elastic N.V. (NYSE:ESTC) by 7.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,206,204 shares of the company’s stock after buying an additional 705,991 shares during the quarter. Vanguard Group Inc. owned 9.60% of Elastic worth $862,322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Geneos Wealth Management Inc. purchased a new position in Elastic in the second quarter valued at about $31,000. Huntington National Bank grew its position in Elastic by 97.5% in the second quarter. Huntington National Bank now owns 468 shares of the company’s stock worth $39,000 after acquiring an additional 231 shares in the last quarter. Plato Investment Management Ltd acquired a new position in shares of Elastic during the 2nd quarter worth $40,000. Promus Capital LLC bought a new position in shares of Elastic during the 2nd quarter valued at $45,000. Finally, True Wealth Design LLC lifted its stake in shares of Elastic by 391.2% in the 3rd quarter. True Wealth Design LLC now owns 673 shares of the company’s stock valued at $57,000 after purchasing 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%

Shares of Elastic stock opened at $58.00 on Monday. The company 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 N.V. has a 1 year low of $56.69 and a 1 year high of $117.49. The company’s fifty day simple moving average is $70.32 and its 200-day simple moving average is $78.51. 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 posted its earnings results on Thursday, November 20th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.58 by $0.06. The business had revenue of $423.48 million during 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%.Elastic’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company earned $0.59 EPS. As a group, sell-side analysts expect that Elastic N.V. will post -0.77 EPS for the current year.

Insider Activity

In related news, insider Ken Exner sold 6,544 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total transaction of $491,127.20. Following the completion of the sale, 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. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ashutosh Kulkarni sold 5,000 shares of Elastic stock in a transaction on Monday, December 15th. The shares were sold at an average price of $74.60, for a total value of $373,000.00. Following the completion of the transaction, the chief executive officer owned 426,901 shares of the company’s stock, valued at approximately $31,846,814.60. The trade was a 1.16% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 61,828 shares of company stock valued at $4,641,010. Corporate insiders own 12.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on ESTC shares. Cantor Fitzgerald lowered their target price on shares of Elastic from $94.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. DA Davidson lowered their price objective on Elastic from $100.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. Scotiabank reduced their target price on Elastic from $90.00 to $76.00 and set a “sector perform” rating for the company in a report on Friday, November 21st. Piper Sandler lowered their price target on Elastic from $125.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, November 21st. Finally, Royal Bank Of Canada reduced their price objective on shares of Elastic from $115.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. Seventeen investment 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.17.

Elastic Company 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.