KBC Group NV Raises Holdings in Elastic N.V. (NYSE:ESTC)

KBC Group NV grew its position in shares of Elastic N.V. (NYSE:ESTC) by 18.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,081 shares of the company’s stock after purchasing an additional 646 shares during the period. KBC Group NV’s holdings in Elastic were worth $364,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Elastic by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company’s stock valued at $926,607,000 after purchasing an additional 168,483 shares in the last quarter. Sylebra Capital LLC grew its position in Elastic by 62.6% in the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company’s stock worth $451,950,000 after acquiring an additional 1,756,842 shares in the last quarter. Pictet Asset Management Holding SA grew its position in Elastic by 15.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company’s stock worth $339,820,000 after acquiring an additional 462,974 shares in the last quarter. Geode Capital Management LLC grew its position in Elastic by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company’s stock worth $142,663,000 after acquiring an additional 45,076 shares in the last quarter. Finally, Norges Bank purchased a new position in Elastic in the fourth quarter worth about $102,485,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Stock Performance

Shares of NYSE:ESTC opened at $87.48 on Friday. The company has a market capitalization of $9.23 billion, a price-to-earnings ratio of -83.31 and a beta of 1.07. Elastic N.V. has a 52 week low of $69.00 and a 52 week high of $123.96. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $86.37 and a 200 day moving average of $94.19.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.10. The company had revenue of $388.43 million during the quarter, compared to the consensus estimate of $380.61 million. Elastic had a negative net margin of 7.29% and a negative return on equity of 4.46%. Elastic’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 earnings per share. On average, sell-side analysts predict that Elastic N.V. will post -0.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Shay Banon sold 5,117 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $444,718.47. Following the completion of the transaction, the chief technology officer owned 4,560,291 shares of the company’s stock, valued at $396,334,890.81. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ashutosh Kulkarni sold 22,901 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $1,990,325.91. Following the completion of the transaction, the chief executive officer directly owned 454,841 shares of the company’s stock, valued at $39,530,231.31. This trade represents a 4.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,913 shares of company stock valued at $4,416,324 over the last ninety days. Company insiders own 15.90% of the company’s stock.

Analyst Ratings Changes

ESTC has been the subject of several recent research reports. Cantor Fitzgerald dropped their price target on Elastic from $109.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, May 30th. KeyCorp initiated coverage on Elastic in a research report on Tuesday, June 10th. They issued a “sector weight” rating for the company. Truist Financial dropped their price target on Elastic from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Wall Street Zen upgraded Elastic from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Finally, Stifel Nicolaus dropped their price target on Elastic from $140.00 to $112.00 and set a “buy” rating for the company in a research report on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Elastic has an average rating of “Moderate Buy” and a consensus price target of $113.52.

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.