Baillie Gifford & Co. Sells 374,561 Shares of Elastic (NYSE:ESTC)

Baillie Gifford & Co. lessened its holdings in Elastic (NYSE:ESTC - Free Report) by 3.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,411,866 shares of the company's stock after selling 374,561 shares during the period. Baillie Gifford & Co. owned approximately 9.16% of Elastic worth $722,455,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Asset Dedication LLC grew its holdings in Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company's stock worth $34,000 after acquiring an additional 280 shares during the period. AlphaCentric Advisors LLC acquired a new position in Elastic in the 2nd quarter valued at about $40,000. Quarry LP acquired a new position in Elastic in the 2nd quarter valued at about $40,000. Lynx Investment Advisory acquired a new position in shares of Elastic during the 2nd quarter worth approximately $43,000. Finally, Signaturefd LLC grew its position in shares of Elastic by 44.1% during the 2nd quarter. Signaturefd LLC now owns 389 shares of the company's stock worth $44,000 after purchasing an additional 119 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

Insider Buying and Selling

In other Elastic news, Director Paul R. Auvil III acquired 20,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $74.25 per share, for a total transaction of $1,485,000.00. Following the completion of the acquisition, the director now directly owns 22,627 shares of the company's stock, valued at approximately $1,680,054.75. This trade represents a 700.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO Shay Banon sold 2,666 shares of the company's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $187,286.50. Following the sale, the chief technology officer now directly owns 4,543,190 shares in the company, valued at $319,159,097.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Paul R. Auvil III purchased 20,000 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $74.25 per share, for a total transaction of $1,485,000.00. Following the completion of the acquisition, the director now directly owns 22,627 shares in the company, valued at approximately $1,680,054.75. This represents a 700.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 37,406 shares of company stock worth $2,627,772 in the last 90 days. Corporate insiders own 15.90% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Oppenheimer dropped their price target on shares of Elastic from $150.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, August 30th. Scotiabank lowered their price objective on shares of Elastic from $135.00 to $92.00 and set a "sector outperform" rating for the company in a report on Friday, August 30th. Truist Financial cut their price objective on shares of Elastic from $140.00 to $105.00 and set a "buy" rating on the stock in a research report on Friday, August 30th. Wedbush raised shares of Elastic to a "hold" rating in a report on Thursday, October 17th. Finally, Barclays upgraded Elastic from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $90.00 to $95.00 in a research report on Monday, October 7th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.71.

Elastic Trading Down 0.3 %

Shares of ESTC traded down $0.25 on Tuesday, hitting $89.71. 449,164 shares of the stock traded hands, compared to its average volume of 1,270,211. The stock's 50 day moving average is $78.49 and its two-hundred day moving average is $97.83. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $9.22 billion, a P/E ratio of 163.55 and a beta of 0.94.

Elastic (NYSE:ESTC - Get Free Report) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.10. The company had revenue of $347.42 million for the quarter, compared to the consensus estimate of $344.67 million. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. Elastic's revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.35) EPS. As a group, sell-side analysts predict that Elastic will post -0.92 earnings per share for the current year.

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.