Thematics Asset Management Purchases 365,192 Shares of Elastic (NYSE:ESTC)

Thematics Asset Management boosted its position in shares of Elastic (NYSE:ESTC) by 463.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 444,012 shares of the company’s stock after buying an additional 365,192 shares during the period. Elastic makes up about 1.3% of Thematics Asset Management’s portfolio, making the stock its 18th biggest holding. Thematics Asset Management owned about 0.43% of Elastic worth $34,082,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ESTC. BNP Paribas Financial Markets increased its holdings in shares of Elastic by 190.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 66,786 shares of the company’s stock worth $5,126,000 after buying an additional 43,772 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Elastic during the third quarter valued at approximately $1,786,000. FMR LLC lifted its stake in shares of Elastic by 25.6% in the 3rd quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after purchasing an additional 1,115,750 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Elastic by 12.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 16,431 shares of the company’s stock valued at $1,261,000 after purchasing an additional 1,757 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its position in Elastic by 7.4% in the third quarter. Penserra Capital Management LLC now owns 51,880 shares of the company’s stock worth $3,981,000 after buying an additional 3,561 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Insider Transactions at Elastic

In other news, CEO Ashutosh Kulkarni sold 19,649 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $1,380,342.25. Following the completion of the sale, the chief executive officer now directly owns 432,648 shares in the company, valued at $30,393,522. This represents a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Carolyn Herzog sold 4,489 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $315,352.25. Following the sale, the insider now directly owns 102,959 shares of the company’s stock, valued at approximately $7,232,869.75. This represents a 4.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,406 shares of company stock valued at $2,627,772 in the last ninety days. 15.90% of the stock is currently owned by corporate insiders.

Elastic Stock Performance

NYSE:ESTC traded down $1.58 during midday trading on Tuesday, hitting $109.90. The company’s stock had a trading volume of 339,750 shares, compared to its average volume of 1,328,595. The firm’s 50 day moving average is $81.78 and its 200-day moving average is $96.91. The firm has a market cap of $11.29 billion, a P/E ratio of 202.64 and a beta of 0.94. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. Elastic had a net margin of 4.39% and a negative return on equity of 13.54%. The business had revenue of $347.42 million for the quarter, compared to analysts’ expectations of $344.67 million. During the same quarter last year, the company earned ($0.35) EPS. The business’s revenue was up 18.3% on a year-over-year basis. Equities analysts anticipate that Elastic will post -0.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Elastic in a research note on Friday. Piper Sandler boosted their price objective on shares of Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday. Barclays raised their target price on shares of Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a research report on Monday. Guggenheim lifted their target price on Elastic from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company raised their price target on Elastic from $100.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $126.33.

Elastic Company 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.