Elastic N.V. $ESTC Shares Bought by Swedbank AB

Swedbank AB boosted its holdings in shares of Elastic N.V. (NYSE:ESTC) by 90.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 104,504 shares of the company’s stock after purchasing an additional 49,500 shares during the quarter. Swedbank AB owned approximately 0.10% of Elastic worth $8,813,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pallas Capital Advisors LLC boosted its holdings in Elastic by 91.6% in the second quarter. Pallas Capital Advisors LLC now owns 14,061 shares of the company’s stock valued at $1,186,000 after purchasing an additional 6,721 shares during the period. Bangor Savings Bank boosted its holdings in Elastic by 1.2% in the second quarter. Bangor Savings Bank now owns 16,739 shares of the company’s stock valued at $1,412,000 after purchasing an additional 205 shares during the period. Kera Capital Partners Inc. purchased a new stake in Elastic during the 2nd quarter worth about $340,000. Acadian Asset Management LLC lifted its holdings in Elastic by 185.2% during the 1st quarter. Acadian Asset Management LLC now owns 20,279 shares of the company’s stock worth $1,805,000 after buying an additional 13,169 shares during the last quarter. Finally, Focus Partners Wealth purchased a new stake in Elastic during the 1st quarter worth about $494,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ESTC shares. Piper Sandler upped their target price on Elastic from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, August 29th. DA Davidson started coverage on Elastic in a report on Friday, August 29th. They set a “neutral” rating and a $105.00 price target on the stock. Wedbush lowered their price objective on shares of Elastic from $135.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, May 30th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Elastic in a research report on Friday, August 29th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Elastic from $120.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Elastic currently has an average rating of “Moderate Buy” and an average target price of $120.00.

Elastic Price Performance

Shares of ESTC stock opened at $89.16 on Monday. The firm’s 50 day moving average price is $83.74 and its two-hundred day moving average price is $85.54. The stock has a market cap of $9.48 billion, a PE ratio of -111.45 and a beta of 1.04. Elastic N.V. has a 52-week low of $70.14 and a 52-week high of $118.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.09 and a current ratio of 2.09.

Insiders Place Their Bets

In related news, CFO Navam Welihinda sold 3,489 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 130,436 shares in the company, valued at $11,754,892.32. This represents a 2.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $88.12, for a total transaction of $440,600.00. Following the completion of the sale, the chief executive officer directly owned 452,314 shares in the company, valued at approximately $39,857,909.68. This represents a 1.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 352,036 shares of company stock worth $31,080,886. 12.70% of the stock is currently owned by insiders.

Elastic Company 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.