Assetmark Inc. Buys 7,877 Shares of Elastic (NYSE:ESTC)

Assetmark Inc. increased its stake in Elastic (NYSE:ESTC) by 28,132.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,905 shares of the company’s stock after buying an additional 7,877 shares during the period. Assetmark Inc.’s holdings in Elastic were worth $607,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Asset Dedication LLC grew its holdings in shares of Elastic by 1,333.3% during the second quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after buying an additional 280 shares in the last quarter. AlphaCentric Advisors LLC purchased a new position in Elastic in the 2nd quarter valued at $40,000. Quarry LP purchased a new stake in shares of Elastic during the 2nd quarter worth $40,000. Lynx Investment Advisory acquired a new position in shares of Elastic during the 2nd quarter worth $43,000. Finally, Signaturefd LLC raised its stake in Elastic by 44.1% in the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ESTC. Piper Sandler decreased their price target on Elastic from $131.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 30th. DA Davidson cut their price target on Elastic from $100.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, August 30th. Rosenblatt Securities reissued a “buy” rating and set a $136.00 price objective on shares of Elastic in a report on Tuesday, August 27th. Baird R W downgraded Elastic from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 30th. Finally, William Blair raised Elastic from a “market perform” rating to an “outperform” rating in a research note on Monday, October 14th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $104.19.

Insider Buying and Selling at Elastic

In related news, CEO Ashutosh Kulkarni sold 19,649 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $1,380,342.25. Following the transaction, the chief executive officer now owns 432,648 shares in the company, valued at approximately $30,393,522. This represents a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul R. Auvil III bought 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $74.25 per share, for a total transaction of $1,485,000.00. Following the transaction, the director now owns 22,627 shares of the company’s stock, valued at approximately $1,680,054.75. This represents a 761.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 37,406 shares of company stock valued at $2,627,772. 15.90% of the stock is currently owned by corporate insiders.

Elastic Trading Down 3.2 %

Shares of NYSE:ESTC opened at $86.36 on Friday. The company has a market capitalization of $8.87 billion, a P/E ratio of 157.02 and a beta of 0.94. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. The business’s 50 day simple moving average is $79.81 and its 200 day simple moving average is $97.47.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. The business had revenue of $347.42 million for the quarter, compared to the consensus estimate of $344.67 million. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.35) earnings per share. On average, research analysts anticipate that Elastic will post -0.92 EPS for the current fiscal year.

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.