Acadian Asset Management LLC Has $1.81 Million Position in Elastic N.V. $ESTC

Acadian Asset Management LLC grew its stake in Elastic N.V. (NYSE:ESTC) by 185.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,279 shares of the company’s stock after purchasing an additional 13,169 shares during the period. Acadian Asset Management LLC’s holdings in Elastic were worth $1,805,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Cloud Capital Management LLC acquired a new stake in shares of Elastic in the 1st quarter valued at approximately $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Elastic in the 4th quarter valued at approximately $26,000. Signaturefd LLC boosted its stake in shares of Elastic by 53.7% in the 1st quarter. Signaturefd LLC now owns 335 shares of the company’s stock valued at $30,000 after purchasing an additional 117 shares in the last quarter. North Capital Inc. acquired a new stake in shares of Elastic in the 1st quarter valued at approximately $37,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Elastic by 53.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock valued at $40,000 after purchasing an additional 152 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Elastic

In other Elastic news, CFO Navam Welihinda sold 3,489 shares of the business’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 $314,428.68. Following the completion of the sale, the chief financial officer owned 130,436 shares in the company, valued at approximately $11,754,892.32. The trade was a 2.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ken Exner sold 6,290 shares of the business’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 $566,854.80. Following the sale, the insider owned 233,582 shares of the company’s stock, valued at $21,050,409.84. This trade represents a 2.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 352,036 shares of company stock worth $31,080,886 in the last ninety days. 12.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of Elastic from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 29th. KeyCorp assumed coverage on shares of Elastic in a report on Tuesday, June 10th. They issued a “sector weight” rating for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price objective on shares of Elastic in a report on Friday, August 29th. Monness Crespi & Hardt raised their price objective on shares of Elastic from $111.00 to $150.00 and gave the company a “buy” rating in a report on Friday, August 29th. Finally, Wedbush dropped their price objective on shares of Elastic from $135.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $120.00.

Elastic Stock Performance

NYSE:ESTC opened at $86.62 on Wednesday. The firm has a market capitalization of $9.21 billion, a P/E ratio of -108.28 and a beta of 1.04. The company has a fifty day moving average of $83.54 and a 200-day moving average of $86.04. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.59. Elastic N.V. has a twelve month low of $70.14 and a twelve month high of $118.84.

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.