Elastic N.V. $ESTC Shares Bought by Krane Funds Advisors LLC

Krane Funds Advisors LLC lifted its holdings in shares of Elastic N.V. (NYSE:ESTC) by 154.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,994 shares of the company’s stock after buying an additional 11,539 shares during the period. Krane Funds Advisors LLC’s holdings in Elastic were worth $1,536,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in Elastic by 7.4% during the third quarter. Vanguard Group Inc. now owns 10,206,204 shares of the company’s stock worth $862,322,000 after acquiring an additional 705,991 shares during the period. AQR Capital Management LLC boosted its position in shares of Elastic by 30.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,832,215 shares of the company’s stock worth $153,100,000 after purchasing an additional 428,356 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of Elastic by 4.7% during the 3rd quarter. Voya Investment Management LLC now owns 1,781,925 shares of the company’s stock worth $150,555,000 after purchasing an additional 79,465 shares during the period. State Street Corp grew its stake in shares of Elastic by 4.0% during the 2nd 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 during the period. Finally, Geode Capital Management LLC increased its holdings in shares of 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 in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Elastic Stock Performance

Shares of NYSE ESTC opened at $53.19 on Tuesday. The company has a 50-day simple moving average of $69.91 and a 200-day simple moving average of $78.35. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.97 and a quick ratio of 1.97. The company has a market cap of $5.60 billion, a PE ratio of -51.64, a price-to-earnings-growth ratio of 236.42 and a beta of 0.93. Elastic N.V. has a 12 month low of $52.73 and a 12 month high of $117.49.

Insider Transactions at Elastic

In other news, insider Ken Exner sold 6,544 shares of the firm’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 $491,127.20. Following the sale, the insider owned 227,038 shares in the company, valued at $17,039,201.90. This trade represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Shay Banon sold 4,552 shares of Elastic stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total value of $341,627.60. Following the completion of the sale, the chief technology officer directly owned 4,359,228 shares of the company’s stock, valued at approximately $327,160,061.40. This represents a 0.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 61,828 shares of company stock worth $4,641,010 in the last three months. 12.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on ESTC. TD Cowen reissued a “hold” rating on shares of Elastic in a report on Monday. Jefferies Financial Group reduced their price target on shares of Elastic from $105.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Piper Sandler decreased their price target on Elastic from $125.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, November 21st. UBS Group lowered their price target on Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Finally, Cantor Fitzgerald reduced their price objective on Elastic from $94.00 to $85.00 and set a “neutral” 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 issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Elastic currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.17.

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.