Y.D. More Investments Ltd Sells 16,314 Shares of Elastic N.V. $ESTC

Y.D. More Investments Ltd reduced its stake in shares of Elastic N.V. (NYSE:ESTC) by 63.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,557 shares of the company’s stock after selling 16,314 shares during the quarter. Y.D. More Investments Ltd’s holdings in Elastic were worth $832,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ESTC. Geneos Wealth Management Inc. purchased a new stake in Elastic during the 2nd quarter valued at $31,000. Huntington National Bank raised its stake in shares of Elastic by 97.5% in the second quarter. Huntington National Bank now owns 468 shares of the company’s stock valued at $39,000 after acquiring an additional 231 shares during the period. Plato Investment Management Ltd bought a new stake in shares of Elastic in the 2nd quarter worth about $40,000. Promus Capital LLC purchased a new position in shares of Elastic during the 2nd quarter worth about $45,000. Finally, True Wealth Design LLC grew its holdings in Elastic by 391.2% during the 3rd quarter. True Wealth Design LLC now owns 673 shares of the company’s stock valued at $57,000 after purchasing an additional 536 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ESTC has been the subject of several recent analyst reports. Canaccord Genuity Group dropped their target price on Elastic from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, November 21st. Citigroup decreased their target price on Elastic from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, November 24th. Rosenblatt Securities reduced their price target on shares of Elastic from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Cantor Fitzgerald dropped their target price on shares of Elastic from $94.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, November 21st. Finally, Wells Fargo & Company lowered their price target on Elastic from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, November 21st. Seventeen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $103.63.

Elastic Stock Up 2.1%

Shares of ESTC traded up $1.30 during trading hours on Friday, hitting $63.36. The company had a trading volume of 78,986 shares, compared to its average volume of 1,674,828. Elastic N.V. has a one year low of $56.69 and a one year high of $117.49. The company’s fifty day moving average price is $70.68 and its two-hundred day moving average price is $78.69. The company has a market capitalization of $6.68 billion, a PE ratio of -62.05, a price-to-earnings-growth ratio of 248.26 and a beta of 0.93. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.64.

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

Insider Activity at Elastic

In other Elastic news, CAO Jane E. Bone sold 1,187 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $80.31, for a total value of $95,327.97. Following the completion of the sale, the chief accounting officer directly owned 43,171 shares in the company, valued at $3,467,063.01. This trade represents a 2.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ken Exner sold 6,544 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total value of $491,127.20. Following the transaction, the insider directly owned 227,038 shares in the company, valued at approximately $17,039,201.90. The trade was a 2.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,828 shares of company stock valued at $4,641,010 over the last three months. Company insiders own 12.70% of the company’s stock.

Elastic Company 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.