WD Rutherford LLC Acquires New Stake in Elastic (NYSE:ESTC)
WD Rutherford LLC has purchased a new stake in Elastic (NYSE:ESTC), acquiring 3,701 shares valued at approximately $100,000 during the second quarter, according to its recent SEC filing. Other institutional investors such as Nordea Investment Management and Toronto Dominion Bank have also recently increased their holdings. Significant insider activity includes CTO Shay Banon's sale of 120,000 shares and CEO Ashutosh Kulkarni's sale of 18,819 shares. Analysts generally have a positive outlook on Elastic, with several firms rating it as "buy."
WD Rutherford LLC bought a new position in Elastic (NYSE:ESTC - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,701 shares of the company's stock, valued at approximately $422,000.
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Several other institutional investors and hedge funds have also recently modified their holdings of the business. Nordea Investment Management AB purchased a new stake in Elastic during the first quarter valued at about $3,104,000. Toronto Dominion Bank purchased a new position in shares of Elastic during the first quarter worth approximately $5,780,000. Quantbot Technologies LP raised its stake 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 acquiring an additional 8,048 shares in the last quarter. CenterBook Partners LP lifted its holdings in shares of Elastic by 13.1% in the 4th quarter. CenterBook Partners LP now owns 27,985 shares of the company's stock worth $3,154,000 after acquiring an additional 3,245 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Elastic by 737.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,617 shares of the company's stock valued at $1,766,000 after purchasing an additional 15,514 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.
Insiders Place Their Bets
In other Elastic news, CTO Shay Banon sold 120,000 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $109.48, for a total value of $13,137,600.00. Following the completion of the sale, the chief technology officer now owns 2,754,978 shares in the company, valued at approximately $301,614,991.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CTO Shay Banon sold 120,000 shares of the business's stock in a transaction on Monday, June 24th. The shares were sold at an average price of $109.48, for a total value of $13,137,600.00. Following the transaction, the chief technology officer now owns 2,754,978 shares of the company's stock, valued at $301,614,991.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ashutosh Kulkarni sold 18,819 shares of Elastic stock in a transaction on Monday, June 10th. The shares were sold at an average price of $109.90, for a total transaction of $2,068,208.10. Following the completion of the sale, the chief executive officer now owns 461,961 shares in the company, valued at $50,769,513.90. The disclosure for this sale can be found here. Insiders sold a total of 355,312 shares of company stock worth $38,626,610 over the last three months. 18.10% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
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A number of analysts have recently weighed in on the company. UBS Group started coverage on Elastic in a research note on Wednesday, May 22nd. They set a "buy" rating and a $135.00 price objective for the company. Barclays cut their price target on shares of Elastic from $128.00 to $117.00 and set an "equal weight" rating on the stock in a report on Friday, May 31st. Canaccord Genuity Group dropped their target price on shares of Elastic from $130.00 to $125.00 and set a "buy" rating for the company in a report on Friday, May 31st. Bank of America reduced their price target on Elastic from $150.00 to $140.00 and set a "buy" rating on the stock in a report on Friday, May 31st. Finally, Stifel Nicolaus dropped their price objective on Elastic from $130.00 to $120.00 and set a "buy" 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's stock. According to MarketBeat, Elastic presently has an average rating of "Moderate Buy" and a consensus price target of $120.84.
Get Our Latest Report on Elastic
Elastic Stock Performance
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NYSE:ESTC traded up $0.09 on Friday, hitting $105.66. The stock had a trading volume of 1,131,038 shares, compared to its average volume of 1,240,797. Elastic has a 52-week low of $57.38 and a 52-week high of $136.06. The stock has a market cap of $10.75 billion, a price-to-earnings ratio of 199.36 and a beta of 0.98. 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 simple moving average is $110.79 and its two-hundred day simple moving average is $109.32.
Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings data 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 net margin of 4.87% and a negative return on equity of 20.83%. The business had revenue of $335.00 million for the quarter, compared to the consensus estimate of $329.15 million. As a group, research analysts predict that Elastic will post -1.12 earnings per share for the current year.
Elastic Company Profile
(Free Report)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.
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