Northern Trust Corp Decreases Position in Elastic (NYSE:ESTC)

Northern Trust Corp cut its stake in shares of Elastic (NYSE:ESTC) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 379,113 shares of the company’s stock after selling 5,014 shares during the period. Northern Trust Corp owned 0.41% of Elastic worth $55,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Advisor Group Holdings Inc. raised its position in Elastic by 16.2% during the second quarter. Advisor Group Holdings Inc. now owns 7,679 shares of the company’s stock valued at $1,119,000 after purchasing an additional 1,069 shares during the period. Sylebra Capital Ltd raised its position in Elastic by 7.3% during the first quarter. Sylebra Capital Ltd now owns 5,048,948 shares of the company’s stock valued at $561,443,000 after purchasing an additional 343,631 shares during the period. Mawer Investment Management Ltd. raised its position in Elastic by 4.2% during the second quarter. Mawer Investment Management Ltd. now owns 768,860 shares of the company’s stock valued at $112,069,000 after purchasing an additional 30,968 shares during the period. XN Exponent Advisors LLC raised its position in Elastic by 66.1% during the first quarter. XN Exponent Advisors LLC now owns 963,205 shares of the company’s stock valued at $107,108,000 after purchasing an additional 383,300 shares during the period. Finally, Capital International Investors raised its position in Elastic by 5.1% during the first quarter. Capital International Investors now owns 2,436,820 shares of the company’s stock valued at $270,974,000 after purchasing an additional 119,190 shares during the period. Institutional investors and hedge funds own 75.60% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Rosenblatt Securities increased their price target on Elastic from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, August 26th. Monness Crespi & Hardt increased their price target on Elastic from $212.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, August 26th. Piper Sandler increased their price target on Elastic from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, July 9th. Zacks Investment Research upgraded Elastic from a “sell” rating to a “hold” rating in a report on Monday. Finally, Oppenheimer increased their price objective on Elastic from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, August 26th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $182.37.

Shares of NYSE ESTC opened at $168.63 on Thursday. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $15.48 billion, a PE ratio of -103.45 and a beta of 1.10. The stock’s fifty day simple moving average is $158.71 and its two-hundred day simple moving average is $141.40. Elastic has a 12-month low of $97.48 and a 12-month high of $181.99.

Elastic (NYSE:ESTC) last announced its earnings results on Tuesday, August 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.14. The business had revenue of $193.10 million for the quarter, compared to analysts’ expectations of $173.21 million. Elastic had a negative return on equity of 26.26% and a negative net margin of 21.54%. The business’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 EPS. On average, equities analysts predict that Elastic will post -1.85 earnings per share for the current fiscal year.

In other news, Director Steven Schuurman sold 500,000 shares of the firm’s stock in a transaction on Wednesday, September 8th. The stock was sold at an average price of $165.35, for a total value of $82,675,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Andrew Appleby sold 7,448 shares of the firm’s stock in a transaction on Thursday, September 9th. The stock was sold at an average price of $162.43, for a total value of $1,209,778.64. Following the completion of the sale, the insider now directly owns 54,065 shares of the company’s stock, valued at approximately $8,781,777.95. The disclosure for this sale can be found here. Insiders have sold a total of 752,490 shares of company stock worth $125,566,320 in the last ninety days. Insiders own 20.40% of the company’s stock.

Elastic Profile

Elastic NV engages in the provision of open source search and analytics engine services. It offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as perform search, analysis, and visualization. The firms Elastic Stack product comprises Elasticsearch, a distributed, real-time search and analytics engine, and data store for various types of data, including textual, numerical, geospatial, structured, and unstructured; Kibana, a user interface, management, and configuration interface for the Elastic Stack; Beats, a single-purpose data shippers for sending data from edge machines to Elasticsearch or Logstash; and Logstash, a data processing pipeline for ingesting data into Elasticsearch or other storage systems.

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Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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