Blue Zone Wealth Advisors LLC Has $3.25 Million Position in Elastic (NYSE:ESTC)

Blue Zone Wealth Advisors LLC lifted its position in shares of Elastic (NYSE:ESTC) by 3.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 28,542 shares of the company’s stock after purchasing an additional 1,054 shares during the quarter. Blue Zone Wealth Advisors LLC’s holdings in Elastic were worth $3,251,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Nordea Investment Management AB acquired a new position in Elastic during the first quarter valued at approximately $3,104,000. Toronto Dominion Bank bought a new stake in Elastic in the first quarter valued at approximately $5,780,000. Quantbot Technologies LP raised its stake in Elastic by 165.2% in the first quarter. Quantbot Technologies LP now owns 12,921 shares of the company’s stock valued at $1,295,000 after buying an additional 8,048 shares during the period. CenterBook Partners LP raised its stake in Elastic by 13.1% in the fourth quarter. CenterBook Partners LP now owns 27,985 shares of the company’s stock valued at $3,154,000 after buying an additional 3,245 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Elastic by 737.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,617 shares of the company’s stock valued at $1,766,000 after buying an additional 15,514 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ESTC shares. UBS Group started coverage on Elastic in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $135.00 price objective on the stock. Canaccord Genuity Group dropped their price objective on Elastic from $130.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Scotiabank dropped their price objective on Elastic from $154.00 to $135.00 and set a “sector outperform” rating on the stock in a research note on Friday, May 31st. Bank of America dropped their price objective on Elastic from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Finally, Citigroup upped their price objective on Elastic from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.05.

Elastic Price Performance

Elastic stock traded up $0.03 during mid-day trading on Friday, reaching $104.96. 556,562 shares of the company were exchanged, compared to its average volume of 1,271,233. The company has a fifty day simple moving average of $111.34 and a 200-day simple moving average of $110.22. Elastic has a 12 month low of $57.38 and a 12 month high of $136.06. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.76 and a quick ratio of 1.76. The firm has a market cap of $10.68 billion, a PE ratio of 198.04 and a beta of 0.98.

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

Insiders Place Their Bets

In other Elastic news, insider Carolyn Herzog sold 5,820 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $109.87, for a total value of $639,443.40. Following the sale, the insider now owns 107,448 shares of the company’s stock, valued at approximately $11,805,311.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CRO Mark Eugene Dodds sold 3,457 shares of Elastic stock in a transaction on Friday, June 7th. The shares were sold at an average price of $110.78, for a total transaction of $382,966.46. Following the transaction, the executive now owns 82,498 shares in the company, valued at $9,139,128.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Carolyn Herzog sold 5,820 shares of Elastic stock in a transaction on Monday, June 10th. The stock was sold at an average price of $109.87, for a total transaction of $639,443.40. Following the transaction, the insider now owns 107,448 shares in the company, valued at approximately $11,805,311.76. The disclosure for this sale can be found here. Insiders have sold a total of 355,312 shares of company stock worth $38,626,610 in the last 90 days. Company insiders own 18.10% of the company’s stock.

Elastic Profile

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.