Elastic (NYSE:ESTC) Shares Bought by LPL Financial LLC

LPL Financial LLC boosted its holdings in shares of Elastic (NYSE:ESTC) by 9.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,102 shares of the company’s stock after purchasing an additional 1,141 shares during the period. LPL Financial LLC’s holdings in Elastic were worth $840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Baillie Gifford & Co. raised its position in shares of Elastic by 29.2% in the first quarter. Baillie Gifford & Co. now owns 7,634,113 shares of the company’s stock worth $442,015,000 after acquiring an additional 1,723,842 shares during the period. Vanguard Group Inc. raised its position in shares of Elastic by 2.2% in the third quarter. Vanguard Group Inc. now owns 7,370,062 shares of the company’s stock worth $528,727,000 after acquiring an additional 157,301 shares during the period. FMR LLC raised its position in shares of Elastic by 11.4% in the first quarter. FMR LLC now owns 6,851,276 shares of the company’s stock worth $396,689,000 after acquiring an additional 702,665 shares during the period. BlackRock Inc. raised its position in shares of Elastic by 4.8% in the first quarter. BlackRock Inc. now owns 5,616,149 shares of the company’s stock worth $499,557,000 after acquiring an additional 259,742 shares during the period. Finally, Sylebra Capital Ltd raised its position in shares of Elastic by 3.2% in the first quarter. Sylebra Capital Ltd now owns 4,712,076 shares of the company’s stock worth $272,829,000 after acquiring an additional 146,397 shares during the period. 74.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on ESTC. Robert W. Baird upped their price objective on shares of Elastic from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, September 29th. Wells Fargo & Company upped their price target on shares of Elastic from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, September 1st. TD Cowen began coverage on shares of Elastic in a research report on Friday, August 18th. They set a “market perform” rating and a $65.00 price target for the company. Bank of America upped their price target on shares of Elastic from $78.00 to $90.00 in a research report on Friday, September 29th. Finally, The Goldman Sachs Group upped their price target on shares of Elastic from $73.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.06.

Insider Transactions at Elastic

In other news, CEO Ashutosh Kulkarni sold 14,376 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $77.83, for a total value of $1,118,884.08. Following the transaction, the chief executive officer now directly owns 317,953 shares in the company, valued at approximately $24,746,281.99. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Ashutosh Kulkarni sold 14,376 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $77.83, for a total value of $1,118,884.08. Following the transaction, the chief executive officer now directly owns 317,953 shares in the company, valued at approximately $24,746,281.99. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $74.71, for a total transaction of $1,867,750.00. Following the completion of the transaction, the director now owns 7,729 shares in the company, valued at $577,433.59. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,470 shares of company stock worth $5,651,090. 18.10% of the stock is currently owned by insiders.

Elastic Stock Performance

Elastic stock opened at $75.14 on Monday. The firm has a 50 day simple moving average of $77.75 and a 200-day simple moving average of $69.66. Elastic has a 1-year low of $46.18 and a 1-year high of $84.04. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of -33.54 and a beta of 0.88.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, August 31st. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.06. Elastic had a negative net margin of 19.33% and a negative return on equity of 38.73%. The business had revenue of $293.75 million during the quarter, compared to analysts’ expectations of $284.65 million. On average, analysts expect that Elastic will post -1.3 EPS for the current year.

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.