Elastic N.V. (NYSE:ESTC) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lowered its position in shares of Elastic N.V. (NYSE:ESTCFree Report) by 4.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,634 shares of the company’s stock after selling 497 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Elastic were worth $858,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Elastic by 5,437.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company’s stock valued at $203,872,000 after buying an additional 2,246,808 shares during the period. Sylebra Capital LLC raised its stake in Elastic by 62.6% during the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company’s stock worth $451,950,000 after acquiring an additional 1,756,842 shares during the period. Marshall Wace LLP lifted its holdings in Elastic by 554.9% in the fourth quarter. Marshall Wace LLP now owns 641,041 shares of the company’s stock worth $63,514,000 after acquiring an additional 543,155 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Elastic in the fourth quarter valued at approximately $46,031,000. Finally, Soma Equity Partners LP boosted its stake in Elastic by 61.5% in the fourth quarter. Soma Equity Partners LP now owns 989,349 shares of the company’s stock valued at $98,025,000 after acquiring an additional 376,660 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ESTC. Piper Sandler dropped their price target on Elastic from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, May 30th. Wedbush lowered their price objective on Elastic from $135.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, May 30th. Canaccord Genuity Group dropped their target price on Elastic from $135.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday, June 2nd. Wells Fargo & Company cut their target price on Elastic from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, May 30th. Finally, Robert W. Baird lowered their price target on shares of Elastic from $125.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $112.72.

Get Our Latest Stock Analysis on ESTC

Insider Transactions at Elastic

In other news, CEO Ashutosh Kulkarni sold 22,901 shares of the firm’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $1,990,325.91. Following the completion of the transaction, the chief executive officer owned 454,841 shares in the company, valued at approximately $39,530,231.31. This trade represents a 4.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ken Exner sold 6,918 shares of Elastic stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $601,243.38. Following the completion of the transaction, the insider directly owned 230,494 shares in the company, valued at $20,032,233.54. This represents a 2.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,913 shares of company stock valued at $4,416,324 in the last quarter. 15.90% of the stock is owned by company insiders.

Elastic Price Performance

NYSE ESTC opened at $79.63 on Monday. Elastic N.V. has a 12 month low of $69.00 and a 12 month high of $118.84. The firm has a market capitalization of $8.40 billion, a PE ratio of -75.84 and a beta of 1.07. The company’s 50 day simple moving average is $85.37 and its 200 day simple moving average is $92.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.92 and a quick ratio of 1.92.

Elastic (NYSE:ESTCGet Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.10. Elastic had a negative return on equity of 4.46% and a negative net margin of 7.29%. The company had revenue of $388.43 million for the quarter, compared to analysts’ expectations of $380.61 million. During the same period last year, the firm earned $0.21 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, equities research analysts forecast that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Elastic Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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