US Bancorp DE Sells 189 Shares of Elastic (NYSE:ESTC)

US Bancorp DE cut its holdings in shares of Elastic (NYSE:ESTC) by 7.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,247 shares of the company’s stock after selling 189 shares during the quarter. US Bancorp DE’s holdings in Elastic were worth $172,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ESTC. Asset Dedication LLC raised its holdings in shares of Elastic by 1,333.3% in the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after purchasing an additional 280 shares during the period. AlphaCentric Advisors LLC acquired a new position in shares of Elastic during the 2nd quarter worth approximately $40,000. Quarry LP bought a new stake in Elastic in the 2nd quarter valued at $40,000. Lynx Investment Advisory acquired a new stake in Elastic during the 2nd quarter valued at $43,000. Finally, Signaturefd LLC boosted its position 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 period. Institutional investors own 97.03% of the company’s stock.

Elastic Stock Down 1.0 %

Shares of ESTC opened at $89.23 on Friday. The firm has a 50 day simple moving average of $79.49 and a two-hundred day simple moving average of $97.59. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. Elastic has a one year low of $69.00 and a one year high of $136.06. The company has a market cap of $9.17 billion, a P/E ratio of 162.24 and a beta of 0.94.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $344.67 million. During the same period in the prior year, the company earned ($0.35) EPS. Elastic’s revenue for the quarter was up 18.3% on a year-over-year basis. Research analysts forecast that Elastic will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Janesh Moorjani sold 6,941 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 transaction of $487,605.25. Following the sale, the chief financial officer now directly owns 195,550 shares in the company, valued at approximately $13,737,387.50. The trade was a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Carolyn Herzog sold 4,489 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $315,352.25. Following the completion of the transaction, the insider now owns 102,959 shares of the company’s stock, valued at approximately $7,232,869.75. This trade represents a 4.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,406 shares of company stock worth $2,627,772 in the last three months. 15.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Bank of America lowered shares of Elastic from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $140.00 to $94.00 in a research report on Friday, August 30th. Rosenblatt Securities restated a “buy” rating and set a $136.00 price objective on shares of Elastic in a research report on Tuesday, August 27th. Guggenheim started coverage on Elastic in a research report on Wednesday, September 11th. They issued a “buy” rating and a $100.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a research note on Tuesday, October 8th. Finally, Baird R W downgraded Elastic from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Elastic has a consensus rating of “Moderate Buy” and a consensus 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.