Victory Capital Management Inc. Sells 5,031 Shares of Elastic (NYSE:ESTC)

Victory Capital Management Inc. lessened its stake in Elastic (NYSE:ESTC) by 24.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,299 shares of the company’s stock after selling 5,031 shares during the quarter. Victory Capital Management Inc.’s holdings in Elastic were worth $1,174,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Asset Dedication LLC grew its position in shares of Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after buying an additional 280 shares during the period. AlphaCentric Advisors LLC acquired a new position in Elastic during the second quarter valued at approximately $40,000. Quarry LP bought a new stake in Elastic in the second quarter valued at approximately $40,000. Lynx Investment Advisory bought a new stake in Elastic in the second quarter valued at approximately $43,000. Finally, Signaturefd LLC raised its holdings in Elastic by 44.1% in the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after purchasing an additional 119 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Stock Up 0.1 %

Elastic stock opened at $111.54 on Wednesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. The company’s 50-day moving average is $82.49 and its 200-day moving average is $96.96. The firm has a market capitalization of $11.46 billion, a PE ratio of 200.47 and a beta of 0.94. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. The firm had revenue of $347.42 million for the quarter, compared to the consensus estimate of $344.67 million. Elastic had a negative return on equity of 13.54% and a net margin of 4.39%. The business’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.35) earnings per share. Sell-side analysts anticipate that Elastic will post -0.92 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on ESTC shares. Wedbush raised Elastic from a “neutral” rating to an “outperform” rating and set a $135.00 price objective on the stock in a research note on Monday. UBS Group decreased their price objective on Elastic from $135.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 30th. The Goldman Sachs Group lifted their price target on shares of Elastic from $99.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Bank of America raised their price objective on shares of Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada upped their target price on shares of Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Elastic currently has an average rating of “Moderate Buy” and an average price target of $126.33.

Insider Activity at Elastic

In other news, insider Carolyn Herzog sold 4,489 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $315,352.25. Following the transaction, the insider now owns 102,959 shares of the company’s stock, valued at approximately $7,232,869.75. This represents a 4.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Shay Banon sold 2,666 shares of Elastic stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $187,286.50. Following the sale, the chief technology officer now directly owns 4,543,190 shares of the company’s stock, valued at approximately $319,159,097.50. The trade was a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,406 shares of company stock worth $2,627,772. Company insiders own 15.90% of the company’s stock.

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.