Assenagon Asset Management S.A. Has $53.86 Million Stake in Elastic (NYSE:ESTC)

Assenagon Asset Management S.A. increased its position in shares of Elastic (NYSE:ESTC) by 137.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 604,519 shares of the company’s stock after purchasing an additional 349,507 shares during the period. Assenagon Asset Management S.A. owned approximately 0.58% of Elastic worth $53,863,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new position in Elastic during the 4th quarter worth $202,000. Stratos Wealth Partners LTD. acquired a new position in shares of Elastic in the fourth quarter valued at about $444,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Elastic in the fourth quarter valued at about $231,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Elastic by 22.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,639 shares of the company’s stock worth $1,054,000 after acquiring an additional 1,924 shares during the period. Finally, Legato Capital Management LLC acquired a new stake in Elastic in the 4th quarter worth about $661,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Elastic

In other news, CTO Shay Banon sold 5,117 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $444,718.47. Following the completion of the transaction, the chief technology officer now owns 4,560,291 shares of the company’s stock, valued at approximately $396,334,890.81. This trade represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Navam Welihinda sold 2,261 shares of the business’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $196,503.51. Following the completion of the sale, the chief financial officer now directly owns 133,925 shares in the company, valued at approximately $11,639,421.75. This represents a 1.66% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,413 shares of company stock worth $4,720,774. Insiders own 15.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on ESTC shares. Truist Financial decreased their target price on shares of Elastic from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Robert W. Baird cut their price target on Elastic from $125.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, May 30th. Barclays reduced their price target on Elastic from $124.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, May 30th. DA Davidson dropped their price objective on Elastic from $115.00 to $75.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Finally, Scotiabank cut their target price on Elastic from $137.00 to $95.00 and set a “sector outperform” rating for the company in a research report on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Elastic currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.63.

Elastic Stock Performance

NYSE ESTC opened at $83.24 on Thursday. The firm’s fifty day moving average price is $84.71 and its two-hundred day moving average price is $97.25. The stock has a market cap of $8.69 billion, a PE ratio of 151.35 and a beta of 1.07. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.10. The company had revenue of $388.43 million for the quarter, compared to the consensus estimate of $380.61 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. Elastic’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. On average, equities analysts expect that Elastic will post -0.77 EPS for the current fiscal year.

About Elastic

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.