Elastic N.V. $ESTC Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC lessened its stake in Elastic N.V. (NYSE:ESTC) by 38.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 352 shares of the company’s stock after selling 218 shares during the quarter. GAMMA Investing LLC’s holdings in Elastic were worth $30,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Merit Financial Group LLC acquired a new position in shares of Elastic during the 1st quarter valued at $881,000. Pallas Capital Advisors LLC acquired a new stake in Elastic in the 1st quarter valued at $654,000. Assenagon Asset Management S.A. increased its holdings in Elastic by 137.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 604,519 shares of the company’s stock valued at $53,863,000 after purchasing an additional 349,507 shares in the last quarter. Simon Quick Advisors LLC acquired a new stake in Elastic in the 1st quarter valued at $236,000. Finally, NorthCrest Asset Manangement LLC acquired a new stake in Elastic in the 1st quarter valued at $276,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Price Performance

ESTC opened at $85.69 on Monday. The company has a 50-day moving average of $83.67 and a 200-day moving average of $84.96. The company has a market capitalization of $9.11 billion, a P/E ratio of -107.11 and a beta of 1.05. Elastic N.V. has a 1-year low of $70.14 and a 1-year 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.

Insider Buying and Selling

In other news, insider Ken Exner sold 6,290 shares of the business’s stock in a transaction dated 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 sale, the insider owned 233,582 shares of the company’s stock, valued at approximately $21,050,409.84. The trade was a 2.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Navam Welihinda sold 3,489 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was 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 directly owned 130,436 shares of the company’s stock, valued at $11,754,892.32. The trade was a 2.61% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 349,536 shares of company stock worth $30,872,136. 12.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on ESTC. Cowen reiterated a “hold” rating on shares of Elastic in a report on Friday, August 29th. Piper Sandler increased their price target on Elastic from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, August 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Elastic in a report on Saturday, September 27th. Wall Street Zen downgraded Elastic from a “buy” rating to a “hold” rating in a report on Friday. Finally, Royal Bank Of Canada boosted their price objective on shares of Elastic from $106.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Elastic has an average rating of “Moderate Buy” and an average target price of $118.80.

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.