Quarry LP Purchases Shares of 354 Elastic (NYSE:ESTC)

Quarry LP bought a new position in Elastic (NYSE:ESTC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 354 shares of the company’s stock, valued at approximately $40,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Asset Dedication LLC lifted its stake in shares of Elastic by 1,333.3% in the second quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after acquiring an additional 280 shares in the last quarter. AlphaCentric Advisors LLC acquired a new position in shares of Elastic in the 2nd quarter worth $40,000. Lynx Investment Advisory acquired a new position in shares of Elastic in the 2nd quarter worth $43,000. Signaturefd LLC grew its holdings in shares of Elastic by 44.1% in the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after acquiring an additional 119 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Elastic in the 1st quarter worth $64,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

ESTC has been the topic of a number of recent research reports. Truist Financial decreased their target price on Elastic from $140.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, August 30th. DA Davidson decreased their target price on Elastic from $100.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, August 30th. Jefferies Financial Group decreased their target price on Elastic from $140.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Piper Sandler decreased their target price on Elastic from $131.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Finally, Bank of America cut Elastic from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $140.00 to $94.00 in a research report on Friday, August 30th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.48.

Elastic Price Performance

NYSE ESTC opened at $79.01 on Friday. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The stock’s 50-day moving average is $90.10 and its two-hundred day moving average is $101.06. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. The firm has a market cap of $8.04 billion, a P/E ratio of 149.08 and a beta of 0.94.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share 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 company had revenue of $347.42 million for the quarter, compared to analyst estimates of $344.67 million. During the same period last year, the company earned ($0.35) earnings per share. The business’s revenue was up 18.3% compared to the same quarter last year. On average, analysts anticipate that Elastic will post -0.92 earnings per share for the current fiscal year.

Insider Transactions at Elastic

In other news, insider Carolyn Herzog sold 4,489 shares of Elastic stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $315,352.25. Following the transaction, the insider now directly owns 102,959 shares in the company, valued at approximately $7,232,869.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Elastic news, insider Carolyn Herzog sold 4,489 shares of Elastic stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $315,352.25. Following the sale, the insider now directly owns 102,959 shares of the company’s stock, valued at approximately $7,232,869.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Mark Eugene Dodds sold 3,661 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $257,185.25. Following the completion of the transaction, the executive now directly owns 102,683 shares in the company, valued at $7,213,480.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,406 shares of company stock worth $2,627,772. Company insiders own 18.10% of the company’s stock.

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.