Elastic (NYSE:ESTC) Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd decreased its holdings in Elastic (NYSE:ESTC) by 40.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 293 shares of the company’s stock after selling 203 shares during the quarter. Plato Investment Management Ltd’s holdings in Elastic were worth $33,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Federated Hermes Inc. boosted its position in shares of Elastic by 32,630.2% in the 2nd quarter. Federated Hermes Inc. now owns 615,655 shares of the company’s stock worth $70,129,000 after purchasing an additional 613,774 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Elastic by 7.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 19,746 shares of the company’s stock worth $2,261,000 after purchasing an additional 1,401 shares in the last quarter. NINE MASTS CAPITAL Ltd acquired a new stake in shares of Elastic in the 2nd quarter worth $228,000. American Century Companies Inc. boosted its position in shares of Elastic by 10.0% in the 2nd quarter. American Century Companies Inc. now owns 30,410 shares of the company’s stock worth $3,464,000 after purchasing an additional 2,777 shares in the last quarter. Finally, Headlands Technologies LLC boosted its position in shares of Elastic by 75.4% in the 2nd quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock worth $72,000 after purchasing an additional 270 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 equities analysts recently issued reports on the company. Guggenheim assumed coverage on Elastic in a research note on Wednesday, September 11th. They issued a “buy” rating and a $100.00 target price for the company. Citigroup raised their target price on Elastic from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Royal Bank of Canada reduced their target price on Elastic from $135.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, August 30th. Rosenblatt Securities restated a “buy” rating and issued a $136.00 target price on shares of Elastic in a research note on Tuesday, August 27th. Finally, Stifel Nicolaus reduced their target price on Elastic from $120.00 to $98.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Elastic currently has an average rating of “Moderate Buy” and an average target price of $104.24.

Insider Buying and Selling

In related news, CTO Shay Banon sold 180,000 shares of Elastic stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $107.82, for a total value of $19,407,600.00. Following the sale, the chief technology officer now directly owns 2,874,978 shares in the company, valued at approximately $309,980,127.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Ashutosh Kulkarni sold 9,664 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $109.88, for a total transaction of $1,061,880.32. Following the transaction, the chief executive officer now directly owns 452,297 shares in the company, valued at approximately $49,698,394.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Shay Banon sold 180,000 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $107.82, for a total value of $19,407,600.00. Following the transaction, the chief technology officer now owns 2,874,978 shares in the company, valued at $309,980,127.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 347,070 shares of company stock worth $36,234,852. Insiders own 18.10% of the company’s stock.

Elastic Price Performance

NYSE:ESTC opened at $75.82 on Tuesday. Elastic has a 52 week low of $69.00 and a 52 week 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 capitalization of $7.79 billion, a PE ratio of 143.06 and a beta of 0.94. The stock’s 50-day moving average price is $101.67 and its 200-day moving average price is $104.32.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.10. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. The company had revenue of $347.42 million for the quarter, compared to analysts’ expectations of $344.67 million. During the same period in the previous year, the firm posted ($0.35) EPS. Elastic’s revenue was up 18.3% compared to the same quarter last year. As a group, equities analysts expect that Elastic will post -0.94 EPS 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.