Rhumbline Advisers Decreases Position in Elastic (NYSE:ESTC)

Rhumbline Advisers lessened its holdings in Elastic (NYSE:ESTC) by 0.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 101,505 shares of the company’s stock after selling 791 shares during the period. Rhumbline Advisers owned approximately 0.10% of Elastic worth $9,044,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Elastic in the 4th quarter valued at $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Elastic in the 4th quarter valued at $26,000. Venturi Wealth Management LLC raised its holdings in shares of Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after purchasing an additional 158 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of Elastic by 1,065.2% in the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock valued at $53,000 after purchasing an additional 490 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Insider Buying and Selling

In related news, CRO Mark Eugene Dodds sold 5,514 shares of the business’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $479,221.74. Following the sale, the executive now owns 165,443 shares of the company’s stock, valued at approximately $14,378,651.13. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ashutosh Kulkarni sold 22,901 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $1,990,325.91. Following the sale, the chief executive officer now directly owns 454,841 shares in the company, valued at approximately $39,530,231.31. This represents a 4.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,413 shares of company stock valued at $4,720,774. Corporate insiders own 15.90% of the company’s stock.

Analyst Upgrades and Downgrades

ESTC has been the topic of a number of analyst reports. Guggenheim reduced their price objective on shares of Elastic from $136.00 to $107.00 and set a “buy” rating on the stock in a report on Friday, May 30th. Oppenheimer cut their price target on shares of Elastic from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group cut their price target on shares of Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Canaccord Genuity Group cut their price target on shares of Elastic from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, June 2nd. Finally, Robert W. Baird cut their price target on shares of Elastic from $125.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, May 30th. Eight equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Elastic currently has a consensus rating of “Moderate Buy” and an average price target of $113.63.

Elastic Stock Down 1.1%

Shares of NYSE:ESTC opened at $84.80 on Wednesday. The company has a market cap of $8.85 billion, a price-to-earnings ratio of 154.19 and a beta of 1.07. The firm’s 50-day simple moving average is $84.57 and its 200-day simple moving average is $97.34. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.10. The business had revenue of $388.43 million for the quarter, compared to the consensus estimate of $380.61 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 earnings per share. As a group, equities research analysts predict that Elastic will post -0.77 earnings per share for the current year.

About Elastic

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.