UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Boosts Stock Position in Elastic N.V. $ESTC

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Elastic N.V. (NYSE:ESTC) by 3.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 429,526 shares of the company’s stock after buying an additional 12,510 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.41% of Elastic worth $38,271,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in Elastic by 4.6% in the 1st quarter. Bank of New York Mellon Corp now owns 504,823 shares of the company’s stock worth $44,980,000 after buying an additional 22,005 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Elastic by 13.3% in the 4th quarter. Cetera Investment Advisers now owns 7,203 shares of the company’s stock worth $714,000 after buying an additional 843 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Elastic in the 1st quarter worth about $205,000. Teacher Retirement System of Texas boosted its holdings in Elastic by 26.6% in the 1st quarter. Teacher Retirement System of Texas now owns 18,130 shares of the company’s stock worth $1,615,000 after buying an additional 3,813 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Elastic by 666.7% in the 1st quarter. Principal Financial Group Inc. now owns 55,959 shares of the company’s stock worth $4,986,000 after buying an additional 48,660 shares during the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Elastic Stock Performance

NYSE:ESTC opened at $88.34 on Tuesday. The firm has a market capitalization of $9.39 billion, a PE ratio of -110.43 and a beta of 1.04. The business’s fifty day moving average price is $83.53 and its 200 day moving average price is $86.04. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.09 and a quick ratio of 2.09. Elastic N.V. has a 12 month low of $70.14 and a 12 month high of $118.84.

Insider Transactions at Elastic

In other Elastic news, insider Ken Exner sold 6,290 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $566,854.80. Following the completion of the transaction, the insider owned 233,582 shares in the company, valued at $21,050,409.84. This represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Carolyn Herzog sold 5,143 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total transaction of $463,487.16. Following the completion of the transaction, the insider owned 94,677 shares of the company’s stock, valued at $8,532,291.24. This represents a 5.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 347,036 shares of company stock valued at $30,640,286 over the last ninety days. Company insiders own 12.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ESTC shares. Mizuho lifted their price objective on Elastic from $100.00 to $119.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Monness Crespi & Hardt boosted their target price on Elastic from $111.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, August 29th. JPMorgan Chase & Co. lowered their target price on Elastic from $120.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, May 30th. Oppenheimer restated an “outperform” rating on shares of Elastic in a report on Friday, August 29th. Finally, Guggenheim boosted their target price on Elastic from $107.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Elastic has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

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.