Elastic N.V. $ESTC Shares Bought by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. grew its stake in Elastic N.V. (NYSE:ESTC) by 55.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,100 shares of the company’s stock after purchasing an additional 15,800 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Elastic were worth $3,726,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ESTC. Vanguard Group Inc. boosted its holdings in Elastic by 7.4% in the 3rd quarter. Vanguard Group Inc. now owns 10,206,204 shares of the company’s stock worth $862,322,000 after buying an additional 705,991 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Elastic by 30.5% in the second quarter. AQR Capital Management LLC now owns 1,832,215 shares of the company’s stock valued at $153,100,000 after acquiring an additional 428,356 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of Elastic by 4.7% in the third quarter. Voya Investment Management LLC now owns 1,781,925 shares of the company’s stock worth $150,555,000 after acquiring an additional 79,465 shares during the last quarter. State Street Corp increased its position in shares of Elastic by 4.0% during the second quarter. State Street Corp now owns 1,574,525 shares of the company’s stock worth $132,780,000 after purchasing an additional 59,850 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Elastic by 3.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,569,578 shares of the company’s stock valued at $132,384,000 after purchasing an additional 54,812 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insider Buying and Selling

In related news, insider Carolyn Herzog sold 5,353 shares of the business’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total transaction of $401,742.65. Following the completion of the transaction, the insider directly owned 89,324 shares of the company’s stock, valued at $6,703,766.20. The trade was a 5.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul R. Auvil III purchased 10,000 shares of the business’s stock in a transaction on Monday, December 1st. The shares were bought at an average price of $71.02 per share, for a total transaction of $710,200.00. Following the acquisition, the director owned 37,956 shares in the company, valued at $2,695,635.12. This trade represents a 35.77% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 61,828 shares of company stock worth $4,641,010 over the last three months. 12.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Bank of America lowered their target price on shares of Elastic from $111.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, November 21st. Royal Bank Of Canada lowered their price target on shares of Elastic from $115.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Morgan Stanley set a $80.00 price objective on shares of Elastic in a report on Thursday. Barclays lowered their target price on Elastic from $107.00 to $100.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. Finally, JPMorgan Chase & Co. cut their price target on Elastic from $113.00 to $98.00 and set an “overweight” rating for the company in a report on Friday. Seventeen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.17.

Elastic Trading Down 6.5%

Shares of Elastic stock opened at $58.00 on Monday. The stock has a 50 day moving average of $70.32 and a 200 day moving average of $78.51. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.97 and a current ratio of 1.97. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of -56.31, a PEG ratio of 236.42 and a beta of 0.93. Elastic N.V. has a fifty-two week low of $56.69 and a fifty-two week high of $117.49.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, November 20th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.06. The company had revenue of $423.48 million during the quarter, compared to the consensus estimate of $418.27 million. Elastic had a negative return on equity of 2.02% and a negative net margin of 6.79%.Elastic’s revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS. As a group, research analysts predict that Elastic N.V. will post -0.77 earnings per share for the current year.

Elastic Profile

Elastic N.V. operates as a search and analytics company, offering a suite of open source and subscription-based solutions for search, observability and security use cases. Its flagship product, Elasticsearch, enables fast and scalable full-text search and analytics across large volumes of structured and unstructured data. Complementary tools such as Kibana provide visualization capabilities, while Beats and Logstash serve as lightweight data shippers and data processing pipelines, respectively.

The company was founded in 2012 by Shay Banon, who serves as chief technology officer, and Steven Schuurman.