Envestnet Asset Management Inc. Has $2.83 Million Stock Position in Elastic N.V. (NYSE:ESTC)

Envestnet Asset Management Inc. grew its position in shares of Elastic N.V. (NYSE:ESTC) by 30.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,743 shares of the company’s stock after acquiring an additional 7,395 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Elastic were worth $2,828,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its position in Elastic by 187.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 9,073 shares of the company’s stock worth $899,000 after acquiring an additional 5,919 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Elastic by 4.6% during the 1st quarter. Bank of New York Mellon Corp now owns 504,823 shares of the company’s stock worth $44,980,000 after purchasing an additional 22,005 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Elastic by 13.3% during the 4th quarter. Cetera Investment Advisers now owns 7,203 shares of the company’s stock worth $714,000 after purchasing an additional 843 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Elastic during the 1st quarter worth approximately $205,000. Finally, Teacher Retirement System of Texas raised its stake in shares of Elastic by 26.6% during the 1st quarter. Teacher Retirement System of Texas now owns 18,130 shares of the company’s stock worth $1,615,000 after purchasing an additional 3,813 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ESTC. KeyCorp began coverage on Elastic in a research report on Tuesday, June 10th. They set a “sector weight” rating on the stock. Wedbush dropped their price target on Elastic from $135.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, May 30th. JPMorgan Chase & Co. dropped their price target on Elastic from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, May 30th. Guggenheim lowered their price objective on Elastic from $136.00 to $107.00 and set a “buy” rating on the stock in a research report on Friday, May 30th. Finally, Canaccord Genuity Group lowered their price objective on Elastic from $135.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday, June 2nd. Eight analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $112.72.

Insider Activity at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 22,901 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 $1,990,325.91. Following the completion of the sale, the chief executive officer owned 454,841 shares of the company’s stock, valued at approximately $39,530,231.31. This represents a 4.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Carolyn Herzog sold 5,702 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $495,560.82. Following the transaction, the insider owned 93,985 shares in the company, valued at $8,168,236.35. The trade was a 5.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,913 shares of company stock valued at $4,416,324. Corporate insiders own 15.90% of the company’s stock.

Elastic Stock Up 1.5%

Shares of NYSE ESTC opened at $90.01 on Monday. Elastic N.V. has a 52 week low of $69.00 and a 52 week high of $118.84. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.92 and a current ratio of 1.92. The stock’s fifty day moving average is $86.04 and its 200 day moving average is $92.53. The stock has a market capitalization of $9.50 billion, a P/E ratio of -85.72 and a beta of 1.07.

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