Principal Financial Group Inc. Boosts Stock Holdings in Elastic N.V. (NYSE:ESTC)

Principal Financial Group Inc. lifted its holdings in Elastic N.V. (NYSE:ESTC) by 666.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,959 shares of the company’s stock after acquiring an additional 48,660 shares during the period. Principal Financial Group Inc. owned 0.05% of Elastic worth $4,986,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Elastic by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company’s stock valued at $926,607,000 after buying an additional 168,483 shares in the last quarter. Sylebra Capital LLC grew its stake in Elastic by 62.6% in the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company’s stock valued at $451,950,000 after purchasing an additional 1,756,842 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Elastic by 15.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company’s stock worth $339,820,000 after acquiring an additional 462,974 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Elastic by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company’s stock worth $142,663,000 after purchasing an additional 45,076 shares in the last quarter. Finally, Norges Bank purchased a new stake in Elastic in the fourth quarter valued at about $102,485,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Carolyn Herzog sold 5,702 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $495,560.82. Following the transaction, the insider owned 93,985 shares in the company, valued at $8,168,236.35. This represents a 5.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Shay Banon sold 5,117 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $444,718.47. Following the sale, the chief technology officer owned 4,560,291 shares in the company, valued at approximately $396,334,890.81. The trade was a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,913 shares of company stock worth $4,416,324 over the last 90 days. Insiders own 15.90% of the company’s stock.

Analyst Ratings Changes

ESTC has been the topic of several analyst reports. Wells Fargo & Company dropped their target price on Elastic from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, May 30th. Canaccord Genuity Group dropped their target price on shares of Elastic from $135.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday, June 2nd. Cantor Fitzgerald lowered their price objective on Elastic from $109.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, May 30th. Guggenheim decreased their price objective on Elastic from $136.00 to $107.00 and set a “buy” rating on the stock in a research note on Friday, May 30th. Finally, Morgan Stanley dropped their price objective on shares of Elastic from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Eight investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $113.52.

Elastic Stock Up 1.5%

Shares of Elastic stock opened at $86.30 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.92 and a quick ratio of 1.92. Elastic N.V. has a one year low of $69.00 and a one year high of $118.84. The stock’s 50-day moving average is $86.49 and its 200 day moving average is $93.10. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of -82.19 and a beta of 1.07.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, May 29th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.10. The firm had revenue of $388.43 million for the quarter, compared to analyst estimates of $380.61 million. Elastic had a negative return on equity of 4.46% and a negative net margin of 7.29%. The business’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. Equities research analysts anticipate that Elastic N.V. will post -0.77 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.