Y.D. More Investments Ltd Decreases Stock Position in Elastic (NYSE:ESTC)

Y.D. More Investments Ltd cut its holdings in Elastic (NYSE:ESTC) by 10.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,090 shares of the company’s stock after selling 4,053 shares during the quarter. Y.D. More Investments Ltd’s holdings in Elastic were worth $4,111,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in Elastic by 24.1% in the 4th quarter. Victory Capital Management Inc. now owns 10,875 shares of the company’s stock worth $1,226,000 after buying an additional 2,114 shares in the last quarter. M&T Bank Corp grew its stake in shares of Elastic by 11.7% in the fourth quarter. M&T Bank Corp now owns 3,164 shares of the company’s stock worth $357,000 after acquiring an additional 332 shares during the period. National Bank of Canada FI grew its stake in shares of Elastic by 428.2% in the fourth quarter. National Bank of Canada FI now owns 11,225 shares of the company’s stock worth $1,196,000 after acquiring an additional 9,100 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Elastic by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 503,828 shares of the company’s stock valued at $56,781,000 after purchasing an additional 18,558 shares during the last quarter. Finally, QRG Capital Management Inc. bought a new position in Elastic during the fourth quarter valued at approximately $342,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Elastic news, insider Carolyn Herzog sold 4,489 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $315,352.25. Following the completion of the transaction, the insider now owns 102,959 shares in the company, valued at approximately $7,232,869.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CRO Mark Eugene Dodds sold 3,661 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 $257,185.25. Following the sale, the executive now directly owns 102,683 shares in the company, valued at approximately $7,213,480.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carolyn Herzog sold 4,489 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 transaction of $315,352.25. Following the completion of the transaction, the insider now directly owns 102,959 shares of the company’s stock, valued at approximately $7,232,869.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 347,070 shares of company stock worth $36,234,852. Corporate insiders own 18.10% of the company’s stock.

Elastic Trading Up 3.3 %

Elastic stock opened at $74.46 on Thursday. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06. The firm’s 50 day moving average price is $104.14 and its 200-day moving average price is $105.50. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. The stock has a market cap of $7.65 billion, a P/E ratio of 140.49 and a beta of 0.95.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.10. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The company had revenue of $347.42 million for the quarter, compared to the consensus estimate of $344.67 million. During the same period in the previous year, the firm posted ($0.35) EPS. Elastic’s revenue for the quarter was up 18.3% compared to the same quarter last year. On average, equities analysts predict that Elastic will post -0.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. UBS Group cut their target price on shares of Elastic from $135.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Truist Financial cut their price objective on Elastic from $140.00 to $105.00 and set a “buy” rating for the company in a report on Friday, August 30th. Scotiabank lowered their target price on Elastic from $135.00 to $92.00 and set a “sector outperform” rating on the stock in a report on Friday, August 30th. DA Davidson dropped their target price on Elastic from $100.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, August 30th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $136.00 price target on shares of Elastic in a research report on Tuesday, August 27th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.24.

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.