Liberty One Investment Management LLC Sells 127 Shares of Elastic (NYSE:ESTC)

Liberty One Investment Management LLC trimmed its position in Elastic (NYSE:ESTC) by 7.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,614 shares of the company’s stock after selling 127 shares during the quarter. Liberty One Investment Management LLC’s holdings in Elastic were worth $184,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ESTC. International Assets Investment Management LLC purchased a new stake in shares of Elastic during the fourth quarter worth about $25,660,000. Cerity Partners LLC purchased a new stake in Elastic in the 4th quarter worth $250,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Elastic during the 4th quarter valued at about $237,000. Strs Ohio purchased a new position in shares of Elastic during the fourth quarter valued at about $640,000. Finally, Mackenzie Financial Corp increased its holdings in shares of Elastic by 11.4% in the fourth quarter. Mackenzie Financial Corp now owns 6,843 shares of the company’s stock worth $771,000 after purchasing an additional 699 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Citigroup raised their price target on Elastic from $145.00 to $155.00 and gave the company a “buy” rating in a report on Monday, June 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Elastic from $138.00 to $125.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. Scotiabank decreased their price objective on Elastic from $154.00 to $135.00 and set a “sector outperform” rating on the stock in a research report on Friday, May 31st. Robert W. Baird reduced their price objective on shares of Elastic from $137.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. Finally, Bank of America cut their price objective on Elastic from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.84.

Elastic Stock Down 0.5 %

Shares of Elastic stock traded down $0.55 during trading on Tuesday, reaching $110.39. The company’s stock had a trading volume of 512,775 shares, compared to its average volume of 1,248,529. The company has a 50-day simple moving average of $111.21 and a two-hundred day simple moving average of $109.65. Elastic has a 1-year low of $57.38 and a 1-year high of $136.06. The company has a market cap of $11.23 billion, a price-to-earnings ratio of 207.74 and a beta of 0.98. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.77.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, May 30th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.03). The company had revenue of $335.00 million during the quarter, compared to analysts’ expectations of $329.15 million. Elastic had a net margin of 4.87% and a negative return on equity of 20.83%. As a group, equities analysts forecast that Elastic will post -1.12 earnings per share for the current year.

Insider Activity

In other news, CRO Mark Eugene Dodds sold 2,281 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $109.90, for a total value of $250,681.90. Following the completion of the transaction, the executive now directly owns 106,344 shares in the company, valued at $11,687,205.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CRO Mark Eugene Dodds sold 2,281 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $109.90, for a total value of $250,681.90. Following the sale, the executive now owns 106,344 shares in the company, valued at $11,687,205.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Shay Banon sold 180,000 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $107.82, for a total transaction of $19,407,600.00. Following the completion of the transaction, the chief technology officer now owns 2,874,978 shares of the company’s stock, valued at $309,980,127.96. The disclosure for this sale can be found here. Insiders have sold 355,312 shares of company stock valued at $38,626,610 over the last ninety days. 18.10% of the stock is currently owned by insiders.

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.