Elastic (NYSE:ESTC) Director Buys $1,485,000.00 in Stock

Elastic (NYSE:ESTC) Director Paul R. Auvil III bought 20,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $74.25 per share, with a total value of $1,485,000.00. Following the completion of the purchase, the director now directly owns 22,627 shares of the company’s stock, valued at $1,680,054.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Elastic Price Performance

ESTC opened at $72.53 on Friday. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 136.85 and a beta of 0.94. Elastic has a 1 year low of $69.66 and a 1 year 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. The stock has a fifty day moving average price of $106.75 and a 200 day moving average price of $106.96.

Elastic (NYSE:ESTC) last released its quarterly earnings data 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. The firm had revenue of $347.42 million during the quarter, compared to analysts’ expectations of $344.67 million. Elastic had a negative return on equity of 18.41% and a net margin of 4.62%. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.35) earnings per share. Analysts forecast that Elastic will post -1.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Elastic

Several large investors have recently made changes to their positions in the business. Baillie Gifford & Co. lifted its position in shares of Elastic by 30.8% during the 1st quarter. Baillie Gifford & Co. now owns 10,156,726 shares of the company’s stock worth $1,018,110,000 after purchasing an additional 2,392,356 shares during the last quarter. Vanguard Group Inc. increased its stake in Elastic by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,613,723 shares of the company’s stock valued at $863,440,000 after acquiring an additional 44,597 shares during the period. 1832 Asset Management L.P. bought a new position in Elastic during the second quarter valued at about $248,335,000. Optimus Prime Fund Management Co. Ltd. increased its stake in Elastic by 5.2% during the fourth quarter. Optimus Prime Fund Management Co. Ltd. now owns 1,004,000 shares of the company’s stock valued at $113,151,000 after acquiring an additional 50,000 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in Elastic during the second quarter valued at about $102,169,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ESTC shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a report on Friday, August 30th. Citigroup increased their target price on Elastic from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Scotiabank lowered their target price on Elastic from $135.00 to $92.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 30th. Bank of America lowered Elastic from a “buy” rating to a “neutral” rating and decreased their price target for the company from $140.00 to $94.00 in a research note on Friday, August 30th. Finally, Piper Sandler reduced their price objective on Elastic from $131.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $104.45.

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.