Interval Partners LP Makes New Investment in Elastic (NYSE:ESTC)

Interval Partners LP bought a new stake in Elastic (NYSE:ESTC) during the first quarter, Holdings Channel.com reports. The fund bought 17,000 shares of the company’s stock, valued at approximately $1,704,000.

Other large investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. raised its position in Elastic by 30.8% in the 1st quarter. Baillie Gifford & Co. now owns 10,156,726 shares of the company’s stock worth $1,018,110,000 after purchasing an additional 2,392,356 shares during the period. Norges Bank acquired a new stake in Elastic during the 4th quarter worth $92,847,000. 1832 Asset Management L.P. purchased a new position in shares of Elastic in the 4th quarter valued at about $58,153,000. BNP Paribas Financial Markets boosted its position in shares of Elastic by 314.0% in the fourth quarter. BNP Paribas Financial Markets now owns 498,638 shares of the company’s stock worth $56,197,000 after acquiring an additional 378,194 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Elastic by 77.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 834,033 shares of the company’s stock valued at $93,996,000 after purchasing an additional 364,418 shares during the period. Institutional investors own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Bank of America lowered their price target on Elastic from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Stifel Nicolaus lowered their price target on shares of Elastic from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, May 31st. JPMorgan Chase & Co. lowered their price target on shares of Elastic from $138.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. Scotiabank lowered their price target on shares of Elastic from $154.00 to $135.00 and set a “sector outperform” rating on the stock in a report on Friday, May 31st. Finally, Citigroup boosted their price target on shares of Elastic from $145.00 to $155.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $118.05.

Insider Transactions at Elastic

In other news, CTO Shay Banon sold 180,000 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $107.82, for a total transaction of $19,407,600.00. Following the sale, the chief technology officer now directly owns 2,874,978 shares of the company’s stock, valued at $309,980,127.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Shay Banon sold 180,000 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $107.82, for a total transaction of $19,407,600.00. Following the sale, the chief technology officer now directly owns 2,874,978 shares of the company’s stock, valued at $309,980,127.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ashutosh Kulkarni sold 9,664 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $109.88, for a total value of $1,061,880.32. Following the sale, the chief executive officer now directly owns 452,297 shares in the company, valued at $49,698,394.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 355,312 shares of company stock valued at $38,626,610. Corporate insiders own 18.10% of the company’s stock.

Elastic Price Performance

Shares of ESTC traded up $4.06 during midday trading on Wednesday, reaching $110.58. The stock had a trading volume of 487,580 shares, compared to its average volume of 1,287,228. Elastic has a 52 week low of $57.38 and a 52 week high of $136.06. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.76 and a quick ratio of 1.76. The firm’s 50 day moving average price is $111.18 and its 200-day moving average price is $110.98. The company has a market capitalization of $11.25 billion, a P/E ratio of 200.98 and a beta of 0.98.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, May 30th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.03). Elastic had a negative return on equity of 20.83% and a net margin of 4.87%. The firm had revenue of $335.00 million during the quarter, compared to the consensus estimate of $329.15 million. On average, analysts forecast that Elastic will post -1.12 earnings per share for the current fiscal 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.