Tredje AP fonden Acquires 236,811 Shares of Elastic N.V. $ESTC

Tredje AP fonden increased its stake in Elastic N.V. (NYSE:ESTC) by 1,894.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 249,308 shares of the company’s stock after buying an additional 236,811 shares during the period. Tredje AP fonden’s holdings in Elastic were worth $21,064,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of ESTC. AXQ Capital LP bought a new stake in shares of Elastic during the second quarter valued at approximately $419,000. Geode Capital Management LLC lifted its position in Elastic by 3.6% during the second quarter. Geode Capital Management LLC now owns 1,569,578 shares of the company’s stock valued at $132,384,000 after buying an additional 54,812 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Elastic by 622.2% during the 2nd quarter. Mackenzie Financial Corp now owns 77,005 shares of the company’s stock valued at $6,494,000 after buying an additional 66,342 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in shares of Elastic by 102.3% during the 2nd quarter. Panagora Asset Management Inc. now owns 464,268 shares of the company’s stock valued at $39,152,000 after buying an additional 234,735 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd grew its position in shares of Elastic by 147.0% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 57,690 shares of the company’s stock worth $4,865,000 after buying an additional 34,336 shares during the period. 97.03% of the stock is owned by institutional investors.

Insider Activity

In related news, CTO Shay Banon sold 4,552 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total transaction of $341,627.60. Following the completion of the transaction, the chief technology officer owned 4,359,228 shares in the company, valued at approximately $327,160,061.40. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $74.60, for a total value of $373,000.00. Following the transaction, the chief executive officer directly owned 426,901 shares of the company’s stock, valued at approximately $31,846,814.60. The trade was a 1.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,828 shares of company stock valued at $4,641,010 in the last three months. 12.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ESTC shares. Cantor Fitzgerald lowered their price target on shares of Elastic from $94.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. JPMorgan Chase & Co. decreased their target price on shares of Elastic from $113.00 to $98.00 and set an “overweight” rating for the company in a research note on Friday. Morgan Stanley set a $80.00 price target on Elastic in a research report on Thursday. Stifel Nicolaus cut their price target on Elastic from $134.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. Finally, Scotiabank lowered their price objective on Elastic from $90.00 to $76.00 and set a “sector perform” rating for the company in a research note on Friday, November 21st. Seventeen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.17.

Elastic Stock Down 6.5%

Shares of Elastic stock opened at $58.00 on Friday. The company has a market cap of $6.11 billion, a price-to-earnings ratio of -56.31, a price-to-earnings-growth ratio of 252.45 and a beta of 0.93. Elastic N.V. has a twelve month low of $56.69 and a twelve month high of $117.49. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.64. The company’s 50 day moving average is $70.32 and its 200 day moving average is $78.53.

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

About Elastic

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.