Migdal Insurance & Financial Holdings Ltd. Acquires 103,000 Shares of Elastic (NYSE:ESTC)

Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Elastic (NYSE:ESTC - Free Report) by 39.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 365,000 shares of the company's stock after acquiring an additional 103,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned 0.36% of Elastic worth $28,017,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Elastic during the first quarter valued at approximately $64,000. Quantbot Technologies LP grew its stake in shares of Elastic by 165.2% in the first quarter. Quantbot Technologies LP now owns 12,921 shares of the company's stock worth $1,295,000 after acquiring an additional 8,048 shares during the last quarter. Swiss National Bank increased its holdings in shares of Elastic by 1.3% during the first quarter. Swiss National Bank now owns 167,100 shares of the company's stock valued at $16,750,000 after acquiring an additional 2,200 shares in the last quarter. Qsemble Capital Management LP raised its position in shares of Elastic by 111.3% in the 1st quarter. Qsemble Capital Management LP now owns 11,364 shares of the company's stock worth $1,139,000 after purchasing an additional 5,987 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Elastic by 993.0% in the 1st quarter. Russell Investments Group Ltd. now owns 17,236 shares of the company's stock worth $1,728,000 after purchasing an additional 15,659 shares in the last quarter. Institutional investors own 97.03% of the company's stock.

Insider Activity

In related news, CEO Ashutosh Kulkarni sold 19,649 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $1,380,342.25. Following the completion of the sale, the chief executive officer now owns 432,648 shares in the company, valued at approximately $30,393,522. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Paul R. Auvil III purchased 20,000 shares of the firm'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 purchase, the director now directly owns 22,627 shares in the company, valued at $1,680,054.75. This trade represents a 700.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ashutosh Kulkarni sold 19,649 shares of the firm's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $1,380,342.25. Following the transaction, the chief executive officer now owns 432,648 shares of the company's stock, valued at approximately $30,393,522. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,406 shares of company stock worth $2,627,772 over the last ninety days. Corporate insiders own 15.90% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on ESTC shares. Wells Fargo & Company reduced their price objective on shares of Elastic from $145.00 to $100.00 and set an "overweight" rating for the company in a research note on Friday, August 30th. TD Cowen lowered their price objective on Elastic from $110.00 to $80.00 and set a "hold" rating on the stock in a research report on Friday, August 30th. Truist Financial cut their target price on Elastic from $140.00 to $105.00 and set a "buy" rating on the stock in a research note on Friday, August 30th. Bank of America cut Elastic from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $140.00 to $94.00 in a research note on Friday, August 30th. Finally, Wedbush raised Elastic to a "hold" rating in a research report on Thursday, October 17th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $103.71.

Elastic Stock Performance

Shares of ESTC stock traded up $0.97 during trading hours on Friday, reaching $86.95. 780,467 shares of the company traded hands, compared to its average volume of 905,654. The firm has a 50-day moving average price of $78.21 and a 200 day moving average price of $97.93. The company has a market cap of $8.93 billion, a P/E ratio of 158.09 and a beta of 0.94. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06.

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

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.