Charles Schwab Investment Management Inc. Purchases 31,321 Shares of Elastic N.V. (NYSE:ESTC)

Charles Schwab Investment Management Inc. boosted its position in shares of Elastic N.V. (NYSE:ESTC) by 5.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 594,406 shares of the company’s stock after acquiring an additional 31,321 shares during the period. Charles Schwab Investment Management Inc. owned 0.57% of Elastic worth $52,962,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC bought a new stake in Elastic during the 4th quarter worth approximately $26,000. Cloud Capital Management LLC bought a new stake in Elastic during the 1st quarter worth approximately $25,000. Signaturefd LLC raised its stake in Elastic by 53.7% during the 1st quarter. Signaturefd LLC now owns 335 shares of the company’s stock worth $30,000 after acquiring an additional 117 shares during the period. North Capital Inc. bought a new stake in Elastic during the 1st quarter worth approximately $37,000. Finally, GAMMA Investing LLC raised its stake in Elastic by 134.6% during the 1st quarter. GAMMA Investing LLC now owns 570 shares of the company’s stock worth $51,000 after acquiring an additional 327 shares during the period. Institutional investors own 97.03% of the company’s stock.

Insider Activity at Elastic

In other news, insider Ken Exner sold 6,918 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $601,243.38. Following the completion of the sale, the insider directly owned 230,494 shares of the company’s stock, valued at approximately $20,032,233.54. The trade was a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Mark Eugene Dodds sold 5,514 shares of Elastic stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $479,221.74. Following the sale, the executive owned 165,443 shares of the company’s stock, valued at $14,378,651.13. The trade was a 3.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,913 shares of company stock valued at $4,416,324 over the last three months. Corporate insiders own 15.90% of the company’s stock.

Analyst Upgrades and Downgrades

ESTC has been the topic of several recent analyst reports. Rosenblatt Securities reduced their price objective on shares of Elastic from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, May 30th. TD Securities reduced their price objective on shares of Elastic from $125.00 to $105.00 and set a “hold” rating on the stock in a research report on Wednesday, May 21st. UBS Group upgraded shares of Elastic from a “buy” rating to a “strong-buy” rating and reduced their price objective for the company from $148.00 to $95.00 in a research report on Wednesday. Guggenheim reduced their price objective on shares of Elastic from $136.00 to $107.00 and set a “buy” rating on the stock in a research report on Friday, May 30th. Finally, Barclays reduced their price objective on shares of Elastic from $124.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.60.

Elastic Stock Up 1.3%

NYSE ESTC opened at $77.41 on Friday. 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 company has a fifty day moving average of $83.26 and a two-hundred day moving average of $90.38. The firm has a market capitalization of $8.17 billion, a price-to-earnings ratio of -73.72 and a beta of 1.07. Elastic N.V. has a 52 week low of $69.00 and a 52 week high of $118.84.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.37 by $0.10. The company 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%. Elastic’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 earnings per share. On average, analysts predict that Elastic N.V. will post -0.77 earnings per share for the current year.

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.