Vanguard Group Inc. Buys 12,157 Shares of Elastic N.V. (NYSE:ESTC)

Vanguard Group Inc. increased its holdings in shares of Elastic N.V. (NYSE:ESTC) by 0.1% during the 1st quarter, HoldingsChannel reports. The fund owned 9,364,265 shares of the company’s stock after buying an additional 12,157 shares during the period. Vanguard Group Inc. owned 0.09% of Elastic worth $834,356,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in Elastic by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 504,823 shares of the company’s stock worth $44,980,000 after buying an additional 22,005 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Elastic by 13.3% during the fourth quarter. Cetera Investment Advisers now owns 7,203 shares of the company’s stock worth $714,000 after acquiring an additional 843 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Elastic during the first quarter worth $205,000. Teacher Retirement System of Texas raised its stake in Elastic by 26.6% during the first quarter. Teacher Retirement System of Texas now owns 18,130 shares of the company’s stock valued at $1,615,000 after purchasing an additional 3,813 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Elastic by 666.7% during the first quarter. Principal Financial Group Inc. now owns 55,959 shares of the company’s stock valued at $4,986,000 after purchasing an additional 48,660 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Elastic Stock Performance

ESTC opened at $72.45 on Tuesday. Elastic N.V. has a 12-month low of $69.00 and a 12-month high of $118.84. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $7.65 billion, a PE ratio of -69.00 and a beta of 1.07. The firm has a 50 day moving average of $84.01 and a two-hundred day moving average of $91.08.

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

Analyst Ratings Changes

A number of research firms recently issued reports on ESTC. Wedbush decreased their price target on shares of Elastic from $135.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, May 30th. Morgan Stanley reduced their price target on shares of Elastic from $140.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Canaccord Genuity Group reduced their price target on shares of Elastic from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, June 2nd. Barclays dropped their target price on shares of Elastic from $124.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, May 30th. Finally, Wall Street Zen upgraded shares of Elastic from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Eight analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $112.72.

Insider Transactions at Elastic

In related news, CTO Shay Banon sold 5,117 shares of Elastic stock in a transaction 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 sale, the chief technology officer owned 4,560,291 shares of the company’s stock, valued at approximately $396,334,890.81. This trade represents a 0.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ashutosh Kulkarni sold 22,901 shares of Elastic stock in a transaction 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 sale, the chief executive officer directly owned 454,841 shares in the company, valued at approximately $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 50,913 shares of company stock worth $4,416,324 in the last ninety days. Company insiders own 15.90% of the company’s stock.

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.