Elastic (NYSE:ESTC) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its holdings in Elastic (NYSE:ESTC) by 23.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,330 shares of the company’s stock after acquiring an additional 3,851 shares during the quarter. Victory Capital Management Inc.’s holdings in Elastic were worth $2,316,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ESTC. Wealth Effects LLC increased its position in Elastic by 27.2% in the 2nd quarter. Wealth Effects LLC now owns 16,960 shares of the company’s stock valued at $1,932,000 after acquiring an additional 3,625 shares during the period. Versor Investments LP acquired a new position in shares of Elastic in the second quarter valued at approximately $278,000. CIBC Asset Management Inc purchased a new stake in shares of Elastic during the second quarter worth approximately $320,000. nVerses Capital LLC acquired a new stake in shares of Elastic during the second quarter worth $205,000. Finally, Mizuho Markets Americas LLC purchased a new position in Elastic in the 2nd quarter valued at $881,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Canaccord Genuity Group cut their price objective on shares of Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Needham & Company LLC restated a “hold” rating on shares of Elastic in a research report on Friday, August 30th. Robert W. Baird lowered Elastic from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $135.00 to $95.00 in a report on Friday, August 30th. Jefferies Financial Group cut their target price on Elastic from $140.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Finally, Barclays decreased their price target on Elastic from $117.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Friday, August 30th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Elastic currently has an average rating of “Moderate Buy” and a consensus target price of $104.24.

Elastic Price Performance

ESTC stock opened at $75.17 on Wednesday. The stock’s 50 day moving average price is $100.88 and its 200 day moving average price is $103.91. The firm has a market cap of $7.72 billion, a P/E ratio of 141.83 and a beta of 0.94. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 1.91. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06.

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

Insider Transactions at Elastic

In related news, CEO Ashutosh Kulkarni sold 9,664 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 452,297 shares of the company’s stock, valued at $49,698,394.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Elastic news, CEO Ashutosh Kulkarni sold 9,664 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $109.88, for a total value 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Carolyn Herzog sold 4,489 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $315,352.25. Following the transaction, the insider now directly owns 102,959 shares of the company’s stock, valued at approximately $7,232,869.75. The disclosure for this sale can be found here. Insiders sold a total of 347,070 shares of company stock worth $36,234,852 over the last ninety days. 18.10% of the stock is currently owned by corporate insiders.

Elastic Company 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.