Trexquant Investment LP Cuts Stock Position in Elastic N.V. $ESTC

Trexquant Investment LP lowered its holdings in Elastic N.V. (NYSE:ESTC) by 94.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,098 shares of the company’s stock after selling 237,336 shares during the period. Trexquant Investment LP’s holdings in Elastic were worth $1,345,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fourth Dimension Wealth LLC purchased a new position in Elastic in the fourth quarter worth $26,000. Cloud Capital Management LLC purchased a new position in Elastic in the first quarter worth $25,000. Signaturefd LLC boosted its position in Elastic by 53.7% in the first quarter. Signaturefd LLC now owns 335 shares of the company’s stock worth $30,000 after purchasing an additional 117 shares during the last quarter. North Capital Inc. purchased a new position in Elastic in the first quarter worth $37,000. Finally, Smartleaf Asset Management LLC boosted its position in Elastic by 53.7% in the first quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock worth $40,000 after purchasing an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Stock Performance

NYSE:ESTC opened at $86.67 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.92 and a current ratio of 2.09. Elastic N.V. has a 52-week low of $69.00 and a 52-week high of $118.84. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of -108.34 and a beta of 1.04. The business’s fifty day moving average is $83.04 and its 200 day moving average is $87.05.

Insider Activity at Elastic

In related news, CEO Ashutosh Kulkarni sold 22,901 shares of the business’s 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. The trade was a 4.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $601,243.38. Following the sale, the insider owned 230,494 shares in the company, valued at approximately $20,032,233.54. The trade was a 2.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,913 shares of company stock worth $4,416,324 in the last 90 days. 12.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. TD Securities cut their price objective on Elastic from $125.00 to $105.00 and set a “hold” rating on the stock in a research report on Wednesday, May 21st. Rosenblatt Securities restated a “buy” rating and issued a $130.00 target price on shares of Elastic in a research note on Friday, August 29th. Robert W. Baird boosted their target price on Elastic from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Jefferies Financial Group boosted their target price on Elastic from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Finally, Zacks Research lowered Elastic from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Elastic currently has an average rating of “Moderate Buy” and an average target price of $120.00.

Elastic Company 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.