Cambridge Trust Co. Buys Shares of 1,300 Elastic (NYSE:ESTC)

Cambridge Trust Co. bought a new stake in Elastic (NYSE:ESTC) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,300 shares of the company’s stock, valued at approximately $130,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cetera Advisors LLC acquired a new position in Elastic in the first quarter valued at approximately $435,000. Washington Harbour Partners LP bought a new stake in shares of Elastic during the first quarter valued at approximately $1,443,000. LBP AM SA bought a new stake in shares of Elastic during the first quarter valued at approximately $2,317,000. Castleark Management LLC raised its holdings in Elastic by 76.9% during the first quarter. Castleark Management LLC now owns 30,460 shares of the company’s stock worth $3,053,000 after purchasing an additional 13,240 shares in the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of Elastic by 612.2% in the first quarter. Tidal Investments LLC now owns 23,267 shares of the company’s stock valued at $2,332,000 after buying an additional 20,000 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Price Performance

NYSE ESTC traded down $5.06 on Friday, reaching $102.12. The company’s stock had a trading volume of 1,053,908 shares, compared to its average volume of 1,080,667. The firm has a market cap of $10.39 billion, a PE ratio of 192.68 and a beta of 0.98. The business has a 50-day moving average price of $111.18 and a 200 day moving average price of $110.84. Elastic has a 52 week low of $57.38 and a 52 week high of $136.06. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, May 30th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.03). The firm had revenue of $335.00 million for the quarter, compared to the consensus estimate of $329.15 million. Elastic had a negative return on equity of 20.83% and a net margin of 4.87%. Sell-side analysts expect that Elastic will post -1.12 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Bank of America dropped their price target on Elastic from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Stifel Nicolaus dropped their price target on Elastic from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, May 31st. JPMorgan Chase & Co. dropped their price target on Elastic from $138.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. UBS Group started coverage on Elastic in a report on Wednesday, May 22nd. They issued a “buy” rating and a $135.00 price target on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a research report on Friday, May 31st. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.05.

Insiders Place Their Bets

In related news, CRO Mark Eugene Dodds sold 2,281 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $109.90, for a total value of $250,681.90. Following the transaction, the executive now directly owns 106,344 shares in the company, valued at $11,687,205.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Elastic news, CEO Ashutosh Kulkarni sold 18,819 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $109.90, for a total value of $2,068,208.10. Following the sale, the chief executive officer now directly owns 461,961 shares in the company, valued at $50,769,513.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Mark Eugene Dodds sold 2,281 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $109.90, for a total transaction of $250,681.90. Following the completion of the sale, the executive now owns 106,344 shares in the company, valued at $11,687,205.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 355,312 shares of company stock valued at $38,626,610. 18.10% of the stock is currently owned by insiders.

About Elastic

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.