Federated Hermes Inc. Grows Position in Elastic (NYSE:ESTC)

Federated Hermes Inc. lifted its position in shares of Elastic (NYSE:ESTC) by 32,630.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 615,655 shares of the company’s stock after buying an additional 613,774 shares during the period. Federated Hermes Inc. owned about 0.61% of Elastic worth $70,129,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Asset Dedication LLC raised its holdings in shares of Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after buying an additional 280 shares in the last quarter. AlphaCentric Advisors LLC purchased a new position in Elastic in the 2nd quarter worth approximately $40,000. Lynx Investment Advisory purchased a new position in Elastic in the 2nd quarter worth approximately $43,000. Signaturefd LLC increased its stake in Elastic by 44.1% in the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after purchasing an additional 119 shares during the period. Finally, Headlands Technologies LLC increased its stake in Elastic by 75.4% in the 2nd quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock worth $72,000 after purchasing an additional 270 shares during the period. 97.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Elastic

In related news, CFO Janesh Moorjani sold 6,941 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $487,605.25. Following the completion of the sale, the chief financial officer now owns 195,550 shares in the company, valued at $13,737,387.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CTO Shay Banon sold 2,666 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $187,286.50. Following the completion of the sale, the chief technology officer now owns 4,543,190 shares in the company, valued at $319,159,097.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Janesh Moorjani sold 6,941 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $487,605.25. Following the sale, the chief financial officer now directly owns 195,550 shares of the company’s stock, valued at approximately $13,737,387.50. The disclosure for this sale can be found here. Insiders sold 347,070 shares of company stock worth $36,234,852 over the last quarter. 18.10% of the stock is currently owned by insiders.

Elastic Trading Up 1.9 %

Elastic stock opened at $75.24 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75. The business’s fifty day simple moving average is $102.47 and its two-hundred day simple moving average is $105.07. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06. The company has a market capitalization of $7.73 billion, a price-to-earnings ratio of 141.96 and a beta of 0.94.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on ESTC. Baird R W cut Elastic from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 30th. Royal Bank of Canada cut their price objective on Elastic from $135.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, August 30th. Citigroup lifted their price objective on Elastic from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Truist Financial cut their price objective on Elastic from $140.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $136.00 price objective on shares of Elastic in a research report on Tuesday, August 27th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.