Elastic (NYSE:ESTC) Shares Sold by Creative Planning

Creative Planning decreased its position in Elastic (NYSE:ESTC) by 17.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,744 shares of the company’s stock after selling 1,669 shares during the period. Creative Planning’s holdings in Elastic were worth $594,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ESTC. 1832 Asset Management L.P. purchased a new position in Elastic in the 2nd quarter valued at approximately $248,335,000. Assenagon Asset Management S.A. purchased a new position in shares of Elastic in the second quarter valued at $102,169,000. Federated Hermes Inc. raised its stake in shares of Elastic by 32,630.2% during the 2nd quarter. Federated Hermes Inc. now owns 615,655 shares of the company’s stock worth $70,129,000 after buying an additional 613,774 shares during the last quarter. Neumann Advisory Hong Kong Ltd purchased a new stake in shares of Elastic in the 3rd quarter worth about $12,078,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in Elastic by 56.9% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 262,000 shares of the company’s stock valued at $29,844,000 after acquiring an additional 95,000 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Janesh Moorjani sold 6,941 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 transaction of $487,605.25. Following the completion of the sale, the chief financial officer now directly owns 195,550 shares in the company, valued at $13,737,387.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Elastic news, CEO Ashutosh Kulkarni sold 19,649 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $1,380,342.25. Following the completion of the sale, the chief executive officer now owns 432,648 shares of the company’s stock, valued at $30,393,522. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Janesh Moorjani sold 6,941 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $487,605.25. Following the sale, the chief financial officer now owns 195,550 shares of the company’s stock, valued at approximately $13,737,387.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,406 shares of company stock valued at $2,627,772 in the last three months. Insiders own 15.90% of the company’s stock.

Elastic Trading Down 1.5 %

Shares of NYSE ESTC opened at $79.63 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75. Elastic has a one year low of $69.00 and a one year high of $136.06. The business has a 50-day moving average price of $79.72 and a two-hundred day moving average price of $98.46. The firm has a market capitalization of $8.18 billion, a PE ratio of 144.78 and a beta of 0.94.

Elastic (NYSE:ESTC) last released its quarterly earnings data 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. The firm had revenue of $347.42 million for 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 company’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.35) EPS. As a group, analysts predict that Elastic will post -0.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ESTC. Rosenblatt Securities reissued a “buy” rating and set a $136.00 price objective on shares of Elastic in a research note on Tuesday, August 27th. Needham & Company LLC reissued a “hold” rating on shares of Elastic in a report on Tuesday, October 8th. Royal Bank of Canada reduced their price objective on Elastic from $135.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, August 30th. Bank of America cut Elastic from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $140.00 to $94.00 in a research report on Friday, August 30th. Finally, Wells Fargo & Company reduced their target price on shares of Elastic from $145.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $103.71.

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.