Arden Trust Co increased its position in shares of Elastic NV (NYSE:ESTC) by 12.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,386 shares of the company’s stock after buying an additional 732 shares during the period. Arden Trust Co’s holdings in Elastic were worth $689,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in ESTC. Liberty One Investment Management LLC purchased a new stake in shares of Elastic in the 2nd quarter worth approximately $45,000. Bank of Montreal Can raised its stake in Elastic by 71.6% in the second quarter. Bank of Montreal Can now owns 472 shares of the company’s stock worth $46,000 after buying an additional 197 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in Elastic during the second quarter worth $48,000. Canada Pension Plan Investment Board boosted its position in Elastic by 211.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,341 shares of the company’s stock valued at $75,000 after acquiring an additional 911 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Elastic by 34.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 861 shares of the company’s stock valued at $79,000 after acquiring an additional 219 shares during the period. Hedge funds and other institutional investors own 71.80% of the company’s stock.
ESTC has been the topic of a number of recent research reports. Piper Sandler raised their price objective on Elastic from $94.00 to $127.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. Monness Crespi & Hardt raised their price target on shares of Elastic from $100.00 to $142.00 and gave the company a “buy” rating in a report on Thursday, August 27th. FBN Securities boosted their price objective on shares of Elastic from $95.00 to $125.00 in a research note on Thursday, August 27th. Zacks Investment Research raised shares of Elastic from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a research report on Tuesday, September 1st. Finally, Oppenheimer lifted their price target on shares of Elastic from $100.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $125.00.
In other news, Director Steven Schuurman sold 750,000 shares of the company’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $104.76, for a total value of $78,570,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jonathan Chadwick sold 6,250 shares of the company’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $89.58, for a total value of $559,875.00. Following the completion of the sale, the director now owns 8,542 shares in the company, valued at approximately $765,192.36. The disclosure for this sale can be found here. Insiders sold a total of 1,076,742 shares of company stock worth $110,543,589 over the last ninety days. Insiders own 25.20% of the company’s stock.
Shares of ESTC stock opened at $120.48 on Friday. The business has a fifty day moving average of $108.90 and a 200 day moving average of $86.50. The firm has a market capitalization of $10.39 billion, a price-to-earnings ratio of -66.93 and a beta of 0.97. Elastic NV has a 1 year low of $39.01 and a 1 year high of $127.90.
Elastic (NYSE:ESTC) last announced its quarterly earnings data on Wednesday, August 26th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.24. Elastic had a negative return on equity of 25.60% and a negative net margin of 30.94%. The firm had revenue of $128.90 million during the quarter, compared to analysts’ expectations of $120.94 million. During the same period last year, the business posted ($0.32) earnings per share. The company’s revenue for the quarter was up 43.7% compared to the same quarter last year. Equities analysts predict that Elastic NV will post -1.49 earnings per share for the current year.
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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