Elastic (NYSE:ESTC) Shares Sold by Clay Northam Wealth Management LLC

Clay Northam Wealth Management LLC reduced its stake in shares of Elastic (NYSE:ESTC) by 7.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,480 shares of the company’s stock after selling 350 shares during the period. Clay Northam Wealth Management LLC’s holdings in Elastic were worth $510,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Nordea Investment Management AB acquired a new stake in Elastic during the 1st quarter worth about $3,104,000. Toronto Dominion Bank purchased a new position in shares of Elastic in the first quarter worth about $5,780,000. Quantbot Technologies LP lifted its holdings in shares of Elastic by 165.2% during the first quarter. Quantbot Technologies LP now owns 12,921 shares of the company’s stock worth $1,295,000 after purchasing an additional 8,048 shares during the period. CenterBook Partners LP boosted its position in Elastic by 13.1% in 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 last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Elastic by 737.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,617 shares of the company’s stock worth $1,766,000 after buying an additional 15,514 shares during the period. 97.03% of the stock is owned by hedge funds and other institutional investors.

Elastic Price Performance

Shares of ESTC traded up $0.02 during trading hours on Friday, hitting $108.81. 478,397 shares of the stock were exchanged, compared to its average volume of 1,255,010. The stock’s 50-day moving average price is $111.25 and its two-hundred day moving average price is $109.71. Elastic has a 12-month low of $57.38 and a 12-month high of $136.06. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 1.76. The company has a market cap of $11.07 billion, a price-to-earnings ratio of 205.30 and a beta of 0.98.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, May 30th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.03). The business had revenue of $335.00 million for the quarter, compared to analyst estimates of $329.15 million. Elastic had a negative return on equity of 20.83% and a net margin of 4.87%. Research analysts expect that Elastic will post -1.12 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on ESTC. Canaccord Genuity Group dropped their price objective 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. Bank of America lowered their price objective on Elastic from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Scotiabank dropped their price objective on shares of Elastic from $154.00 to $135.00 and set a “sector outperform” rating on the stock in a research note on Friday, May 31st. Citigroup boosted their target price on shares of Elastic from $145.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Finally, Barclays dropped their price target on shares of Elastic from $128.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Friday, May 31st. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $118.05.

Insider Activity

In related news, CTO Shay Banon sold 5,260 shares of the company’s stock in a transaction that occurred 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 transaction, the chief technology officer now directly owns 4,545,856 shares in the company, valued at $499,544,115.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Elastic news, CRO Mark Eugene Dodds sold 3,457 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $110.78, for a total transaction of $382,966.46. Following the completion of the transaction, the executive now owns 82,498 shares of the company’s stock, valued at $9,139,128.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Shay Banon sold 5,260 shares of Elastic stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $109.89, for a total transaction of $578,021.40. Following the sale, the chief technology officer now owns 4,545,856 shares of the company’s stock, valued at $499,544,115.84. The disclosure for this sale can be found here. Insiders sold 355,312 shares of company stock worth $38,626,610 over the last ninety days. Corporate insiders own 18.10% of the company’s stock.

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.