Elastic N.V. $ESTC Shares Sold by Exane Asset Management

Exane Asset Management trimmed its holdings in shares of Elastic N.V. (NYSE:ESTC) by 73.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,914 shares of the company’s stock after selling 27,280 shares during the period. Elastic accounts for about 0.4% of Exane Asset Management’s holdings, making the stock its 17th largest holding. Exane Asset Management’s holdings in Elastic were worth $836,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Bank of New York Mellon Corp lifted its stake in Elastic by 4.6% during the first quarter. Bank of New York Mellon Corp now owns 504,823 shares of the company’s stock worth $44,980,000 after purchasing an additional 22,005 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Elastic during the first quarter worth approximately $205,000. Teacher Retirement System of Texas lifted its position in shares of Elastic by 26.6% during the 1st quarter. Teacher Retirement System of Texas now owns 18,130 shares of the company’s stock worth $1,615,000 after buying an additional 3,813 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Elastic by 3.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 429,526 shares of the company’s stock worth $38,271,000 after buying an additional 12,510 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Elastic by 666.7% in the 1st quarter. Principal Financial Group Inc. now owns 55,959 shares of the company’s stock valued at $4,986,000 after buying an additional 48,660 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ESTC. Robert W. Baird lifted their price target on shares of Elastic from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. KeyCorp started coverage on Elastic in a research report on Tuesday, June 10th. They set a “sector weight” rating on the stock. Stifel Nicolaus boosted their target price on Elastic from $112.00 to $134.00 and gave the company a “buy” rating in a report on Friday, August 29th. UBS Group raised their price target on Elastic from $95.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Finally, Monness Crespi & Hardt lifted their price target on Elastic from $111.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $120.00.

Elastic Stock Performance

Shares of ESTC stock opened at $85.93 on Monday. The stock’s 50-day moving average price is $83.84 and its 200 day moving average price is $85.26. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $9.13 billion, a PE ratio of -107.41 and a beta of 1.04. Elastic N.V. has a 52-week low of $70.14 and a 52-week high of $118.84.

Insiders Place Their Bets

In other Elastic news, insider Carolyn Herzog sold 5,143 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $463,487.16. Following the transaction, the insider directly owned 94,677 shares of the company’s stock, valued at approximately $8,532,291.24. The trade was a 5.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Mark Eugene Dodds sold 5,037 shares of the company’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total transaction of $453,934.44. Following the transaction, the executive owned 167,284 shares of the company’s stock, valued at approximately $15,075,634.08. The trade was a 2.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 349,536 shares of company stock valued at $30,872,136. 12.70% of the stock is owned by company insiders.

About Elastic

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.