Qsemble Capital Management LP Sells 9,416 Shares of Elastic (NYSE:ESTC)

Qsemble Capital Management LP cut its holdings in shares of Elastic (NYSE:ESTC) by 82.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,948 shares of the company’s stock after selling 9,416 shares during the period. Qsemble Capital Management LP’s holdings in Elastic were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ESTC. Baillie Gifford & Co. lifted its holdings in shares of Elastic by 30.8% during the 1st quarter. Baillie Gifford & Co. now owns 10,156,726 shares of the company’s stock valued at $1,018,110,000 after purchasing an additional 2,392,356 shares in the last quarter. Vanguard Group Inc. raised its holdings in Elastic by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 8,613,723 shares of the company’s stock worth $863,440,000 after buying an additional 44,597 shares during the period. Optimus Prime Fund Management Co. Ltd. lifted its stake in Elastic by 5.2% in the fourth quarter. Optimus Prime Fund Management Co. Ltd. now owns 1,004,000 shares of the company’s stock valued at $113,151,000 after buying an additional 50,000 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Elastic in the second quarter valued at approximately $102,169,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Elastic by 77.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 834,033 shares of the company’s stock valued at $93,996,000 after buying an additional 364,418 shares during the period. 97.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ESTC has been the topic of several research reports. Jefferies Financial Group cut their price objective on shares of Elastic from $140.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Truist Financial cut their price target on Elastic from $140.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Rosenblatt Securities reiterated a “buy” rating and set a $136.00 price objective on shares of Elastic in a report on Tuesday, August 27th. Piper Sandler dropped their target price on Elastic from $131.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a research report on Friday, August 30th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $104.24.

Elastic Stock Up 1.9 %

ESTC opened at $75.24 on Friday. The stock’s fifty day simple moving average is $101.67 and its 200 day simple moving average is $104.50. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75. The stock has a market cap of $7.73 billion, a PE ratio of 141.96 and a beta of 0.94. Elastic has a 1-year low of $69.00 and a 1-year high of $136.06.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $344.67 million. During the same quarter last year, the firm earned ($0.35) earnings per share. The company’s revenue was up 18.3% on a year-over-year basis. As a group, research analysts expect that Elastic will post -0.94 earnings per share for the current year.

Insiders Place Their Bets

In other Elastic news, insider Carolyn Herzog sold 4,489 shares of the 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 sale, the insider now directly owns 102,959 shares in the company, valued at $7,232,869.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Ashutosh Kulkarni sold 9,664 shares of Elastic 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Carolyn Herzog sold 4,489 shares of the company’s stock in a transaction 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 transaction, the insider now owns 102,959 shares of the company’s stock, valued at $7,232,869.75. The disclosure for this sale can be found here. Insiders have sold a total of 347,070 shares of company stock worth $36,234,852 in the last 90 days. Company insiders own 18.10% of the company’s stock.

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.