Wipfli Financial Advisors LLC Acquires Shares of 662 Elastic (NYSE:ESTC)

Wipfli Financial Advisors LLC acquired a new stake in Elastic (NYSE:ESTC – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 662 shares of the company’s stock, valued at approximately $47,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ESTC. Allworth Financial LP grew its position in shares of Elastic by 94.4% during the 3rd quarter. Allworth Financial LP now owns 383 shares of the company’s stock valued at $27,000 after acquiring an additional 186 shares during the period. Quadrant Capital Group LLC grew its position in shares of Elastic by 79.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 446 shares of the company’s stock valued at $30,000 after acquiring an additional 198 shares during the period. CWM LLC grew its position in shares of Elastic by 88.0% during the 2nd quarter. CWM LLC now owns 1,130 shares of the company’s stock valued at $76,000 after acquiring an additional 529 shares during the period. Advisors Asset Management Inc. grew its position in shares of Elastic by 10.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,669 shares of the company’s stock valued at $113,000 after acquiring an additional 152 shares during the period. Finally, FNY Investment Advisers LLC bought a new position in shares of Elastic during the 2nd quarter valued at approximately $118,000. Hedge funds and other institutional investors own 78.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Piper Sandler cut their price objective on shares of Elastic from $70.00 to $62.00 in a report on Thursday, January 5th. Wedbush assumed coverage on shares of Elastic in a report on Wednesday, December 14th. They issued a “neutral” rating and a $67.00 price objective for the company. Oppenheimer cut their price objective on shares of Elastic from $90.00 to $80.00 and set an “outperform” rating for the company in a report on Tuesday, January 3rd. Rosenblatt Securities cut their price objective on shares of Elastic to $96.00 in a report on Friday, December 2nd. Finally, Jefferies Financial Group raised their price objective on shares of Elastic from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, September 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.73.

Insider Activity

In other news, CEO Ashutosh Kulkarni sold 3,619 shares of the stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $53.60, for a total transaction of $193,978.40. Following the transaction, the chief executive officer now directly owns 355,135 shares in the company, valued at approximately $19,035,236. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Ashutosh Kulkarni sold 3,619 shares of the stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $53.60, for a total transaction of $193,978.40. Following the completion of the sale, the chief executive officer now directly owns 355,135 shares in the company, valued at approximately $19,035,236. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan Chadwick sold 6,250 shares of the stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $65.26, for a total value of $407,875.00. Following the sale, the director now owns 7,729 shares of the company’s stock, valued at $504,394.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,194 shares of company stock worth $994,473. 18.80% of the stock is currently owned by insiders.

Elastic Price Performance

Shares of Elastic stock opened at $51.21 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $4.90 billion, a PE ratio of -20.08 and a beta of 1.07. The business’s 50-day moving average price is $55.20 and its 200-day moving average price is $68.20. Elastic has a 12 month low of $46.18 and a 12 month high of $100.39.

Elastic (NYSE:ESTC – Get Rating) last announced its quarterly earnings data on Wednesday, November 30th. The company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.10. The firm had revenue of $264.40 million for the quarter, compared to analyst estimates of $261.25 million. Elastic had a negative return on equity of 53.77% and a negative net margin of 24.46%. Sell-side analysts forecast that Elastic will post -1.91 EPS for the current fiscal year.

Elastic Profile

(Get Rating)

Elastic NV engages in the provision of open-source search and analytics engine services. It offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as perform search, analysis, and visualization. The firms Elastic Stack product comprises Elasticsearch, a distributed, real-time search and analytics engine, and data store for various types of data, including textual, numerical, geospatial, structured, and unstructured, Kibana, a user interface, management, and configuration interface for the Elastic Stack, Beats, a single-purpose data shippers for sending data from edge machines to Elasticsearch or Logstash, and Logstash, a data processing pipeline for ingesting data into Elasticsearch or other storage systems.