UBS Asset Management Americas Inc. Takes Position in Elastic NV (NYSE:ESTC)

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UBS Asset Management Americas Inc. bought a new stake in Elastic NV (NYSE:ESTC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 24,329 shares of the company’s stock, valued at approximately $1,816,000.

Several other institutional investors also recently modified their holdings of ESTC. US Bancorp DE acquired a new position in shares of Elastic in the 2nd quarter valued at $37,000. Machina Capital S.A.S. acquired a new position in shares of Elastic in the 2nd quarter valued at $52,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Elastic in the 2nd quarter valued at $82,000. Rockefeller Capital Management L.P. boosted its holdings in shares of Elastic by 600.0% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,652 shares of the company’s stock valued at $123,000 after buying an additional 1,416 shares in the last quarter. Finally, BNP Paribas Arbitrage SA acquired a new position in shares of Elastic in the 2nd quarter valued at $127,000. Institutional investors and hedge funds own 52.08% of the company’s stock.

Several research analysts have recently issued reports on the stock. Monness Crespi & Hardt upped their target price on shares of Elastic from $125.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Royal Bank of Canada upped their price target on shares of Elastic from $112.00 to $117.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Canaccord Genuity upped their price target on shares of Elastic from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Citigroup upped their price target on shares of Elastic from $98.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Finally, Barclays upped their price target on shares of Elastic from $108.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $104.00.

ESTC stock opened at $85.24 on Friday. The company has a fifty day moving average price of $86.67 and a 200 day moving average price of $85.07. Elastic NV has a 12 month low of $58.88 and a 12 month high of $104.10. The company has a market cap of $6.58 billion and a price-to-earnings ratio of -47.36. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.06 and a quick ratio of 2.06.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Wednesday, August 28th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.09. Elastic had a negative net margin of 41.18% and a negative return on equity of 44.92%. The firm had revenue of $89.70 million during the quarter, compared to the consensus estimate of $83.49 million. The business’s revenue for the quarter was up 58.5% on a year-over-year basis. As a group, analysts anticipate that Elastic NV will post -2.07 earnings per share for the current year.

In other Elastic news, CEO Shay Banon sold 273,696 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $99.34, for a total transaction of $27,188,960.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP W.H. Baird Garrett sold 9,000 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $99.04, for a total transaction of $891,360.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,334,877 shares of company stock valued at $123,847,535. 44.20% of the stock is owned by insiders.

About Elastic

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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Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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