Elastic (NYSE:ESTC) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC trimmed its holdings in Elastic (NYSE:ESTC) by 9.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,086 shares of the company’s stock after selling 644 shares during the period. Parallel Advisors LLC’s holdings in Elastic were worth $693,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Asset Dedication LLC increased its holdings in Elastic by 1,333.3% in the second quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after buying an additional 280 shares during the last quarter. AlphaCentric Advisors LLC bought a new stake in shares of Elastic in the 2nd quarter valued at approximately $40,000. Lynx Investment Advisory acquired a new stake in shares of Elastic during the 2nd quarter valued at approximately $43,000. Signaturefd LLC lifted its stake in Elastic by 44.1% during the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after purchasing an additional 119 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Elastic in the first quarter worth $64,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elastic

In other news, CTO Shay Banon sold 180,000 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $107.82, for a total value of $19,407,600.00. Following the completion of the sale, the chief technology officer now owns 2,874,978 shares of the company’s stock, valued at $309,980,127.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Elastic news, CTO Shay Banon sold 180,000 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $107.82, for a total value of $19,407,600.00. Following the transaction, the chief technology officer now owns 2,874,978 shares in the company, valued at approximately $309,980,127.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ashutosh Kulkarni sold 9,664 shares of Elastic stock in a transaction on Monday, June 24th. The shares were sold at an average price of $109.88, for a total transaction of $1,061,880.32. Following the sale, the chief executive officer now directly owns 452,297 shares of the company’s stock, valued at approximately $49,698,394.36. The disclosure for this sale can be found here. Insiders have sold a total of 347,070 shares of company stock valued at $36,234,852 in the last three months. 18.10% of the stock is currently owned by company insiders.

Elastic Stock Up 0.8 %

Shares of Elastic stock opened at $75.82 on Tuesday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The firm has a market capitalization of $7.79 billion, a PE ratio of 143.06 and a beta of 0.94. The stock’s fifty day moving average is $101.67 and its 200-day moving average is $104.32.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.10. The company had revenue of $347.42 million during the quarter, compared to analyst estimates of $344.67 million. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The business’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.35) earnings per share. Equities analysts anticipate that Elastic will post -0.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Elastic from $145.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Truist Financial dropped their price target on Elastic from $140.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Needham & Company LLC restated a “hold” rating on shares of Elastic in a research report on Friday, August 30th. Jefferies Financial Group dropped their target price on Elastic from $140.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Finally, Citigroup boosted their price target on shares of Elastic from $155.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Elastic has a consensus rating of “Moderate Buy” and an average target price of $104.24.

Elastic Profile

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.