Elastic NV (NYSE:ESTC) Short Interest Update

Elastic NV (NYSE:ESTC) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 4,284,100 shares, a growth of 22.7% from the May 30th total of 3,491,200 shares. Based on an average daily trading volume, of 1,030,000 shares, the short-interest ratio is presently 4.2 days. Approximately 21.2% of the company’s stock are short sold.

In other Elastic news, Director Michelangelo Volpi sold 658,540 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $81.42, for a total value of $53,618,326.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Aaron Katz sold 15,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $84.74, for a total value of $1,271,100.00. The disclosure for this sale can be found here. Insiders sold 1,523,440 shares of company stock valued at $121,369,434 in the last ninety days. Insiders own 51.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Northern Trust Corp bought a new stake in shares of Elastic in the 4th quarter valued at approximately $2,235,000. Glaxis Capital Management LLC bought a new stake in Elastic during the 1st quarter worth approximately $584,000. Pier Capital LLC grew its position in Elastic by 122.2% during the 1st quarter. Pier Capital LLC now owns 87,111 shares of the company’s stock worth $6,958,000 after acquiring an additional 47,910 shares during the last quarter. B. Riley Wealth Management Inc. bought a new stake in Elastic during the 1st quarter worth approximately $301,000. Finally, Altimeter Capital Management LP bought a new stake in Elastic during the 4th quarter worth approximately $5,361,000. 41.66% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently weighed in on ESTC. Zacks Investment Research cut ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. FBN Securities began coverage on Elastic in a research report on Tuesday, April 2nd. They set an “outperform” rating for the company. KeyCorp cut their price objective on PolyOne from $36.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Monness Crespi & Hardt reissued a “buy” rating and set a $185.00 price objective (up previously from $150.00) on shares of Mongodb in a research report on Thursday, June 6th. Finally, Stifel Nicolaus began coverage on Elastic in a research report on Monday, May 13th. They set a “hold” rating and a $75.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Elastic has an average rating of “Hold” and a consensus target price of $93.92.

Elastic stock traded up $4.10 during trading hours on Friday, hitting $93.26. The stock had a trading volume of 2,411,587 shares, compared to its average volume of 847,472. The company’s 50-day simple moving average is $79.04. The stock has a market cap of $6.72 billion and a P/E ratio of -51.81. Elastic has a fifty-two week low of $58.55 and a fifty-two week high of $100.43.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Wednesday, June 5th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.17. The firm had revenue of $80.60 million during the quarter, compared to analyst estimates of $75.79 million. The firm’s revenue for the quarter was up 62.5% on a year-over-year basis. On average, analysts forecast that Elastic will post -2.17 EPS for the current year.

Elastic Company Profile

Elastic N.V. develops and delivers technology that enables users to search structured and unstructured data for a range of consumer and enterprise applications. It primarily provides 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.

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