1,860 Shares in Elastic (NYSE:ESTC) Bought by Avitas Wealth Management LLC

Avitas Wealth Management LLC bought a new position in shares of Elastic (NYSE:ESTC) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,860 shares of the company’s stock, valued at approximately $212,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its holdings in Elastic by 30.8% during 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 in the last quarter. Vanguard Group Inc. increased its holdings in Elastic by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 8,613,723 shares of the company’s stock worth $863,440,000 after purchasing an additional 44,597 shares in the last quarter. Optimus Prime Fund Management Co. Ltd. increased its holdings in Elastic by 5.2% during the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 1,004,000 shares of the company’s stock worth $113,151,000 after purchasing an additional 50,000 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Elastic during the 2nd quarter worth about $102,169,000. Finally, Goldman Sachs Group Inc. increased its holdings in Elastic by 77.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 834,033 shares of the company’s stock worth $93,996,000 after purchasing an additional 364,418 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Insiders Place Their Bets

In other news, insider Carolyn Herzog sold 5,820 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $109.87, for a total transaction of $639,443.40. Following the sale, the insider now directly owns 107,448 shares of the company’s stock, valued at approximately $11,805,311.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Elastic news, CRO Mark Eugene Dodds sold 3,457 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $110.78, for a total transaction of $382,966.46. Following the completion of the sale, the executive now directly owns 82,498 shares in the company, valued at $9,139,128.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Carolyn Herzog sold 5,820 shares of Elastic stock in a transaction on Monday, June 10th. The shares were sold at an average price of $109.87, for a total value of $639,443.40. Following the completion of the transaction, the insider now owns 107,448 shares in the company, valued at approximately $11,805,311.76. 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 in the last 90 days. Company insiders own 18.10% of the company’s stock.

Elastic Stock Performance

Shares of Elastic stock traded up $0.09 during trading on Friday, reaching $105.66. The company’s stock had a trading volume of 1,131,038 shares, compared to its average volume of 1,240,797. 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 business’s 50-day moving average price is $110.79 and its 200-day moving average price is $109.41. Elastic has a 52 week low of $57.38 and a 52 week high of $136.06. The firm has a market cap of $10.75 billion, a PE ratio of 199.43 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 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 business had revenue of $335.00 million for the quarter, compared to analyst estimates of $329.15 million. Equities analysts forecast that Elastic will post -1.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a report on Friday, May 31st. UBS Group started coverage on Elastic in a report on Wednesday, May 22nd. They issued a “buy” rating and a $135.00 price objective for the company. Robert W. Baird decreased their price objective on Elastic from $137.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. JPMorgan Chase & Co. decreased their price objective on Elastic from $138.00 to $125.00 and set an “overweight” rating for the company in a report on Friday, May 24th. Finally, Barclays decreased their price objective on Elastic from $128.00 to $117.00 and set an “equal weight” rating for the company in a report on Friday, May 31st. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned 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 $120.84.

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.