O Shares Investment Advisers LLC acquired a new position in shares of Elastic NV (NYSE:ESTC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,406 shares of the company’s stock, valued at approximately $592,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Elastic in the fourth quarter valued at about $5,426,000. Northern Trust Corp purchased a new stake in shares of Elastic in the fourth quarter valued at about $2,235,000. Glaxis Capital Management LLC purchased a new stake in shares of Elastic in the first quarter valued at about $584,000. Victory Capital Management Inc. purchased a new stake in shares of Elastic in the fourth quarter valued at about $42,000. Finally, Pier Capital LLC raised its holdings in shares of Elastic by 122.2% in the first quarter. Pier Capital LLC now owns 87,111 shares of the company’s stock valued at $6,958,000 after purchasing an additional 47,910 shares during the last quarter. Hedge funds and other institutional investors own 46.54% of the company’s stock.
In related news, SVP W.H. Baird Garrett sold 20,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $88.40, for a total value of $1,768,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kevin Kluge sold 70,000 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $79.79, for a total transaction of $5,585,300.00. The disclosure for this sale can be found here. In the last three months, insiders sold 342,689 shares of company stock valued at $29,032,092. 51.80% of the stock is owned by insiders.
Elastic (NYSE:ESTC) last announced its earnings results on Wednesday, June 5th. The company reported ($0.28) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.17. The business had revenue of $80.60 million for the quarter, compared to the consensus estimate of $75.79 million. The business’s revenue was up 62.5% on a year-over-year basis. Analysts predict that Elastic NV will post -2.02 earnings per share for the current fiscal year.
A number of analysts recently issued reports on the stock. Bank of America raised their price objective on shares of Elastic from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Monness Crespi & Hardt reiterated a “buy” rating and set a $125.00 target price (up previously from $120.00) on shares of Elastic in a research report on Thursday, June 6th. Stifel Nicolaus initiated coverage on shares of Elastic in a research report on Monday, May 13th. They issued a “hold” rating and a $75.00 price objective for the company. KeyCorp reiterated a “buy” rating and set a $102.00 target price on shares of Elastic in a research report on Thursday, April 18th. Finally, FBN Securities initiated coverage on shares of Elastic in a research report on Tuesday, April 2nd. They set an “outperform” rating for the company. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Elastic currently has an average rating of “Hold” and a consensus target price of $93.92.
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Elastic Company Profile
Elastic N.V. develops and delivers technology that enables users to search structured and unstructured data for a range of consumer and enterprise applications. It primarily provides 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.
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