Point72 Hong Kong Ltd Buys New Shares in Elastic (NYSE:ESTC)

Point72 Hong Kong Ltd purchased a new position in Elastic (NYSE:ESTC) during the 3rd quarter, Holdings Channel reports. The firm purchased 12,563 shares of the company’s stock, valued at approximately $964,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ESTC. Signaturefd LLC grew 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 buying an additional 119 shares in the last quarter. QRG Capital Management Inc. grew its holdings in shares of Elastic by 7.0% during the 3rd quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock worth $235,000 after purchasing an additional 201 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Elastic by 3.3% during the third quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company’s stock valued at $523,000 after purchasing an additional 219 shares during the period. Headlands Technologies LLC increased its position in shares of Elastic by 75.4% during the second quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock valued at $72,000 after purchasing an additional 270 shares during the period. Finally, Asset Dedication LLC raised 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 valued at $34,000 after purchasing an additional 280 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Insider Activity at Elastic

In related news, CEO Ashutosh Kulkarni sold 19,649 shares of the firm’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 transaction, the chief executive officer now owns 432,648 shares in the company, valued at $30,393,522. This trade represents a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Shay Banon sold 150,000 shares of Elastic stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total value of $16,638,000.00. Following the completion of the sale, the chief technology officer now owns 2,604,978 shares of the company’s stock, valued at approximately $288,944,159.76. The trade was a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 198,551 shares of company stock valued at $20,506,656 over the last quarter. Corporate insiders own 15.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ESTC. Oppenheimer lifted their price target on shares of Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. DA Davidson lifted their target price on shares of Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on shares of Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Baird R W raised Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Wedbush upgraded Elastic from a “neutral” rating to an “outperform” rating and set a $135.00 price objective on the stock in a research note on Monday, November 25th. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $126.33.

Elastic Stock Down 0.6 %

Shares of NYSE ESTC opened at $109.46 on Monday. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The firm’s 50-day simple moving average is $85.26 and its 200 day simple moving average is $97.11. The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The company has a market cap of $11.34 billion, a price-to-earnings ratio of 199.02 and a beta of 0.94.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The company had revenue of $347.42 million for the quarter, compared to analyst estimates of $344.67 million. During the same period in the prior year, the business earned ($0.35) earnings per share. Elastic’s quarterly revenue was up 18.3% on a year-over-year basis. On average, research analysts expect that Elastic will post -0.79 earnings per share for the current fiscal year.

Elastic 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.