Castleark Management LLC Acquires 13,240 Shares of Elastic (NYSE:ESTC)

Castleark Management LLC increased its holdings in Elastic (NYSE:ESTC) by 76.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,460 shares of the company’s stock after buying an additional 13,240 shares during the period. Castleark Management LLC’s holdings in Elastic were worth $3,053,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ESTC. Nordea Investment Management AB bought a new stake in shares of Elastic during the first quarter valued at about $3,104,000. International Assets Investment Management LLC purchased a new position in shares of Elastic during the 4th quarter valued at $25,660,000. Toronto Dominion Bank bought a new position in shares of Elastic in the first quarter worth $5,780,000. Quantbot Technologies LP raised its position in shares of Elastic by 165.2% in the first quarter. Quantbot Technologies LP now owns 12,921 shares of the company’s stock worth $1,295,000 after buying an additional 8,048 shares in the last quarter. Finally, CenterBook Partners LP boosted its stake in Elastic by 13.1% during the fourth quarter. CenterBook Partners LP now owns 27,985 shares of the company’s stock valued at $3,154,000 after buying an additional 3,245 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Elastic

In other news, CTO Shay Banon sold 5,260 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $109.89, for a total value of $578,021.40. Following the completion of the sale, the chief technology officer now directly owns 4,545,856 shares of the company’s stock, valued at approximately $499,544,115.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Ashutosh Kulkarni sold 18,819 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $109.90, for a total value of $2,068,208.10. Following the sale, the chief executive officer now directly owns 461,961 shares of the company’s stock, valued at $50,769,513.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Shay Banon sold 5,260 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $109.89, for a total value of $578,021.40. Following the completion of the transaction, the chief technology officer now owns 4,545,856 shares of the company’s stock, valued at approximately $499,544,115.84. The disclosure for this sale can be found here. Insiders have sold a total of 355,312 shares of company stock worth $38,626,610 over the last quarter. Corporate insiders own 18.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ESTC. Citigroup upped their target price on Elastic from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. UBS Group started coverage on shares of Elastic in a research report on Wednesday, May 22nd. They issued a “buy” rating and a $135.00 price objective on the stock. Bank of America dropped their target price on shares of Elastic from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Canaccord Genuity Group decreased their price target on shares of Elastic from $130.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Finally, Scotiabank dropped their price objective on shares of Elastic from $154.00 to $135.00 and set a “sector outperform” rating for the company in a report on Friday, May 31st. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $118.05.

Elastic Trading Down 1.7 %

Shares of Elastic stock traded down $1.86 during trading on Thursday, reaching $107.81. 369,828 shares of the stock were exchanged, compared to its average volume of 1,285,480. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.77. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 201.96 and a beta of 0.98. Elastic has a 1 year low of $57.38 and a 1 year high of $136.06. The stock’s fifty day moving average is $111.21 and its 200 day moving average is $110.97.

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