Neuberger Berman Group LLC Raises Stock Holdings in Elastic N.V. (NYSE:ESTC)

Neuberger Berman Group LLC grew its stake in Elastic N.V. (NYSE:ESTC) by 89.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,156 shares of the company’s stock after acquiring an additional 2,433 shares during the quarter. Neuberger Berman Group LLC’s holdings in Elastic were worth $459,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ESTC. Envestnet Asset Management Inc. lifted its position in shares of Elastic by 17.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 24,348 shares of the company’s stock valued at $2,412,000 after acquiring an additional 3,602 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Elastic by 843.7% in the fourth quarter. Russell Investments Group Ltd. now owns 14,448 shares of the company’s stock valued at $1,432,000 after acquiring an additional 12,917 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Elastic in the fourth quarter valued at $374,000. Invesco Ltd. lifted its position in shares of Elastic by 5.4% in the fourth quarter. Invesco Ltd. now owns 76,329 shares of the company’s stock valued at $7,563,000 after acquiring an additional 3,887 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Elastic in the fourth quarter valued at $3,019,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Elastic Trading Up 1.3%

Shares of ESTC opened at $77.41 on Friday. The company has a market capitalization of $8.17 billion, a P/E ratio of -73.72 and a beta of 1.07. Elastic N.V. has a one year low of $69.00 and a one year high of $118.84. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a 50-day moving average price of $83.26 and a 200 day moving average price of $90.38.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.10. The firm had revenue of $388.43 million during the quarter, compared to the consensus estimate of $380.61 million. Elastic had a negative return on equity of 4.46% and a negative net margin of 7.29%. Elastic’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.21 earnings per share. Sell-side analysts forecast that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Insider Activity at Elastic

In other Elastic news, insider Carolyn Herzog sold 5,702 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $495,560.82. Following the transaction, the insider owned 93,985 shares of the company’s stock, valued at $8,168,236.35. This trade represents a 5.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ken Exner sold 6,918 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $601,243.38. Following the transaction, the insider directly owned 230,494 shares in the company, valued at approximately $20,032,233.54. This represents a 2.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,913 shares of company stock worth $4,416,324 over the last quarter. 15.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ESTC shares. Stifel Nicolaus reduced their price objective on Elastic from $140.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, May 30th. Canaccord Genuity Group dropped their target price on Elastic from $135.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, June 2nd. Barclays dropped their target price on Elastic from $124.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, May 30th. Royal Bank Of Canada dropped their target price on Elastic from $119.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, May 30th. Finally, Monness Crespi & Hardt upgraded Elastic from a “neutral” rating to a “buy” rating and set a $111.00 target price for the company in a research note on Friday, June 27th. Eight analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Elastic has a consensus rating of “Moderate Buy” and a consensus target price of $110.60.

Elastic Company 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.