Elastic (NYSE:ESTC) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. raised its position in Elastic (NYSE:ESTC) by 7.0% during the 3rd quarter, Holdings Channel reports. The firm owned 3,063 shares of the company’s stock after acquiring an additional 201 shares during the quarter. QRG Capital Management Inc.’s holdings in Elastic were worth $235,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ESTC. 1832 Asset Management L.P. purchased a new stake in Elastic in the 2nd quarter valued at approximately $248,335,000. Assenagon Asset Management S.A. purchased a new stake in shares of Elastic in the second quarter valued at $102,169,000. Federated Hermes Inc. lifted its position in shares of Elastic by 32,630.2% in the second quarter. Federated Hermes Inc. now owns 615,655 shares of the company’s stock valued at $70,129,000 after acquiring an additional 613,774 shares in the last quarter. Neumann Advisory Hong Kong Ltd acquired a new stake in shares of Elastic during the third quarter valued at $12,078,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in Elastic by 56.9% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 262,000 shares of the company’s stock worth $29,844,000 after purchasing an additional 95,000 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Stock Down 0.2 %

NYSE ESTC opened at $89.78 on Wednesday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The business has a 50 day moving average price of $78.82 and a two-hundred day moving average price of $97.70. The stock has a market cap of $9.22 billion, a PE ratio of 163.24 and a beta of 0.94.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.10. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The business had revenue of $347.42 million during the quarter, compared to analyst estimates of $344.67 million. During the same period last year, the business earned ($0.35) EPS. The business’s revenue was up 18.3% on a year-over-year basis. As a group, sell-side analysts predict that Elastic will post -0.92 EPS for the current fiscal year.

Insider Transactions at Elastic

In other Elastic news, Director Paul R. Auvil III purchased 20,000 shares of Elastic stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $74.25 per share, with a total value of $1,485,000.00. Following the completion of the acquisition, the director now owns 22,627 shares of the company’s stock, valued at approximately $1,680,054.75. This trade represents a 700.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CTO Shay Banon sold 2,666 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $187,286.50. Following the completion of the sale, the chief technology officer now owns 4,543,190 shares of the company’s stock, valued at approximately $319,159,097.50. The trade was a 0.00 % 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, Director Paul R. Auvil III purchased 20,000 shares of Elastic stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $74.25 per share, for a total transaction of $1,485,000.00. Following the transaction, the director now directly owns 22,627 shares of the company’s stock, valued at approximately $1,680,054.75. The trade was a 700.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 37,406 shares of company stock valued at $2,627,772. 15.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on ESTC. Jefferies Financial Group decreased their price target on shares of Elastic from $140.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Canaccord Genuity Group decreased their target price on shares of Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Truist Financial lowered their target price on shares of Elastic from $140.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Baird R W cut Elastic from a “strong-buy” rating to a “hold” rating in a report on Friday, August 30th. Finally, Scotiabank dropped their target price on Elastic from $135.00 to $92.00 and set a “sector outperform” rating for the company in a research note on Friday, August 30th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Elastic has an average rating of “Moderate Buy” and an average target price of $103.71.

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.