Cerity Partners LLC Raises Stock Position in Elastic N.V. (NYSE:ESTC)

Cerity Partners LLC increased its position in shares of Elastic N.V. (NYSE:ESTC) by 548.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,489 shares of the company’s stock after purchasing an additional 20,714 shares during the period. Cerity Partners LLC’s holdings in Elastic were worth $2,182,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Financial Gravity Asset Management Inc. bought a new stake in Elastic during the 1st quarter valued at about $77,000. LBP AM SA raised its holdings in shares of Elastic by 18.6% in the 1st quarter. LBP AM SA now owns 181,493 shares of the company’s stock valued at $16,171,000 after purchasing an additional 28,409 shares in the last quarter. Exane Asset Management raised its holdings in shares of Elastic by 34.3% in the 1st quarter. Exane Asset Management now owns 37,194 shares of the company’s stock valued at $3,579,000 after purchasing an additional 9,490 shares in the last quarter. Liberty One Investment Management LLC raised its holdings in shares of Elastic by 17.8% in the 1st quarter. Liberty One Investment Management LLC now owns 1,723 shares of the company’s stock valued at $154,000 after purchasing an additional 260 shares in the last quarter. Finally, Blackhawk Capital Partners LLC. bought a new stake in shares of Elastic in the 1st quarter valued at about $855,000. Institutional investors own 97.03% of the company’s stock.

Insider Buying and Selling

In other news, insider Carolyn Herzog sold 5,702 shares of Elastic stock in a transaction on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $495,560.82. Following the transaction, the insider directly owned 93,985 shares of the company’s stock, valued at $8,168,236.35. The trade was a 5.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ashutosh Kulkarni sold 22,901 shares of Elastic stock in a transaction on Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $1,990,325.91. Following the completion of the transaction, the chief executive officer directly owned 454,841 shares in the company, valued at $39,530,231.31. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,913 shares of company stock valued at $4,416,324 over the last ninety days. 15.90% of the stock is currently owned by corporate insiders.

Elastic Price Performance

Shares of NYSE ESTC opened at $86.79 on Friday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.61. Elastic N.V. has a 52 week low of $69.00 and a 52 week high of $118.84. The firm has a 50-day simple moving average of $86.51 and a 200-day simple moving average of $92.98. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of -82.66 and a beta of 1.07.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.10. Elastic had a negative net margin of 7.29% and a negative return on equity of 4.46%. The company had revenue of $388.43 million during the quarter, compared to analyst estimates of $380.61 million. During the same quarter last year, the firm posted $0.21 earnings per share. Elastic’s revenue was up 15.9% compared to the same quarter last year. On average, equities analysts predict that Elastic N.V. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ESTC shares. Truist Financial cut their price objective on shares of Elastic from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Guggenheim cut their price objective on shares of Elastic from $136.00 to $107.00 and set a “buy” rating on the stock in a research report on Friday, May 30th. Scotiabank dropped their target price on shares of Elastic from $137.00 to $95.00 and set a “sector outperform” rating on the stock in a research report on Friday, May 30th. Cantor Fitzgerald dropped their target price on shares of Elastic from $109.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, May 30th. Finally, Wall Street Zen raised shares of Elastic from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $113.52.

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.