Elastic (NYSE:ESTC) Shares Purchased by Thematics Asset Management

Thematics Asset Management raised its position in Elastic (NYSE:ESTC) by 463.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 444,012 shares of the company’s stock after purchasing an additional 365,192 shares during the quarter. Elastic comprises 1.3% of Thematics Asset Management’s investment portfolio, making the stock its 18th biggest position. Thematics Asset Management’s holdings in Elastic were worth $34,082,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Interval Partners LP acquired a new position in Elastic in the first quarter valued at about $1,704,000. Fifth Third Wealth Advisors LLC purchased a new position in Elastic in the third quarter valued at $1,262,000. WD Rutherford LLC purchased a new stake in Elastic during the 2nd quarter worth about $422,000. Assenagon Asset Management S.A. acquired a new position in shares of Elastic during the 2nd quarter worth about $102,169,000. Finally, Daventry Group LP boosted its position in shares of Elastic by 8.6% during the 2nd quarter. Daventry Group LP now owns 316,975 shares of the company’s stock worth $36,107,000 after acquiring an additional 25,008 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ESTC. Citigroup upped their price target on Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a report on Monday. Oppenheimer raised their price objective on Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday. Scotiabank boosted their target price on Elastic from $92.00 to $135.00 and gave the company a “sector outperform” rating in a report on Friday. Rosenblatt Securities reaffirmed a “buy” rating and set a $120.00 price target on shares of Elastic in a research report on Wednesday, November 20th. Finally, Barclays upped their price target on shares of Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $126.33.

Insider Transactions at Elastic

In related news, CTO Shay Banon sold 2,666 shares of the business’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 $187,286.50. Following the completion of the sale, the chief technology officer now directly owns 4,543,190 shares of the company’s stock, valued at $319,159,097.50. The trade was a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul R. Auvil III purchased 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $74.25 per share, for a total transaction of $1,485,000.00. Following the completion of the transaction, the director now owns 22,627 shares in the company, valued at approximately $1,680,054.75. This represents a 761.32 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 37,406 shares of company stock valued at $2,627,772. 15.90% of the stock is currently owned by corporate insiders.

Elastic Trading Down 1.4 %

Shares of ESTC stock traded down $1.58 on Tuesday, reaching $109.90. 339,750 shares of the stock were exchanged, compared to its average volume of 1,328,595. The firm has a 50 day moving average of $81.78 and a two-hundred day moving average of $96.91. Elastic has a 1-year low of $69.00 and a 1-year high of $136.06. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75. The stock has a market cap of $11.29 billion, a P/E ratio of 202.64 and a beta of 0.94.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.10. Elastic had a net margin of 4.39% and a negative return on equity of 13.54%. The business had revenue of $347.42 million for the quarter, compared to analyst estimates of $344.67 million. During the same quarter in the previous year, the business posted ($0.35) EPS. The business’s quarterly revenue was up 18.3% on a year-over-year basis. On average, research analysts anticipate that Elastic will post -0.92 EPS for the current 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.