Deutsche Bank AG Trims Stock Position in Elastic (NYSE:ESTC)

Deutsche Bank AG trimmed its stake in Elastic (NYSE:ESTC) by 54.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,403 shares of the company’s stock after selling 16,136 shares during the period. Deutsche Bank AG’s holdings in Elastic were worth $1,328,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Barclays PLC boosted its position in shares of Elastic by 56.2% during the third quarter. Barclays PLC now owns 153,155 shares of the company’s stock valued at $11,757,000 after purchasing an additional 55,084 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Elastic by 3,442.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 14,525 shares of the company’s stock valued at $1,439,000 after buying an additional 14,115 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Elastic in the 4th quarter worth about $202,000. Geneos Wealth Management Inc. purchased a new stake in shares of Elastic in the 4th quarter worth about $25,000. Finally, KBC Group NV increased its stake in shares of Elastic by 42.2% in the 4th quarter. KBC Group NV now owns 3,435 shares of the company’s stock worth $340,000 after acquiring an additional 1,020 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Insider Activity

In other Elastic news, CTO Shay Banon sold 140,129 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the completion of the sale, the chief technology officer now directly owns 2,254,978 shares of the company’s stock, valued at $240,561,053.04. This trade represents a 5.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Carolyn Herzog sold 3,334 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.78, for a total transaction of $302,660.52. Following the transaction, the insider now directly owns 84,152 shares of the company’s stock, valued at $7,639,318.56. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 198,304 shares of company stock valued at $20,847,452 in the last ninety days. Corporate insiders own 15.90% of the company’s stock.

Analyst Upgrades and Downgrades

ESTC has been the topic of several research reports. Rosenblatt Securities reissued a “buy” rating and set a $130.00 price objective on shares of Elastic in a research note on Tuesday, February 25th. Wells Fargo & Company raised their target price on shares of Elastic from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Scotiabank dropped their price target on Elastic from $140.00 to $137.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 27th. Barclays cut their price target on Elastic from $138.00 to $124.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Finally, Canaccord Genuity Group lifted their price objective on Elastic from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Nine equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $125.96.

Elastic Price Performance

NYSE ESTC opened at $92.38 on Monday. The stock has a market capitalization of $9.65 billion, a price-to-earnings ratio of 167.96 and a beta of 1.20. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The business’s fifty day moving average price is $86.32 and its 200-day moving average price is $97.70.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.48). The business had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. On average, equities analysts predict that Elastic will post -0.77 earnings per share for the current year.

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.