River Global Investors LLP Acquires 10,891 Shares of Elastic (NYSE:ESTC)

River Global Investors LLP lifted its stake in shares of Elastic (NYSE:ESTC - Free Report) by 121.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,884 shares of the company's stock after acquiring an additional 10,891 shares during the quarter. River Global Investors LLP's holdings in Elastic were worth $1,526,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Asset Dedication LLC lifted its holdings in shares of Elastic by 1,333.3% in the second quarter. Asset Dedication LLC now owns 301 shares of the company's stock valued at $34,000 after purchasing an additional 280 shares in the last quarter. AlphaCentric Advisors LLC purchased a new stake in shares of Elastic in the second quarter valued at $40,000. Quarry LP purchased a new stake in shares of Elastic in the second quarter valued at $40,000. Lynx Investment Advisory purchased a new stake in shares of Elastic in the second quarter valued at $43,000. Finally, Signaturefd LLC lifted its holdings in shares of Elastic by 44.1% in the second quarter. Signaturefd LLC now owns 389 shares of the company's stock valued at $44,000 after purchasing an additional 119 shares in the last quarter. 97.03% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Ashutosh Kulkarni sold 19,649 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $1,380,342.25. Following the sale, the chief executive officer now directly owns 432,648 shares of the company's stock, valued at approximately $30,393,522. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Ashutosh Kulkarni sold 19,649 shares of Elastic 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 sale, the chief executive officer now directly owns 432,648 shares of the company's stock, valued at $30,393,522. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Carolyn Herzog sold 4,489 shares of Elastic stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $315,352.25. Following the sale, the insider now directly owns 102,959 shares in the company, valued at approximately $7,232,869.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,406 shares of company stock valued at $2,627,772. 15.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wells Fargo & Company reduced their target price on Elastic from $145.00 to $100.00 and set an "overweight" rating for the company in a report on Friday, August 30th. Piper Sandler cut their price objective on Elastic from $131.00 to $100.00 and set an "overweight" rating for the company in a report on Friday, August 30th. Wedbush upgraded Elastic to a "hold" rating in a report on Thursday, October 17th. UBS Group cut their price objective on Elastic from $135.00 to $95.00 and set a "buy" rating for the company in a report on Friday, August 30th. Finally, Jefferies Financial Group cut their price objective on Elastic from $140.00 to $110.00 and set a "buy" rating for the company in a report on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Elastic has an average rating of "Moderate Buy" and an average price target of $103.71.

Elastic Stock Performance

Shares of NYSE:ESTC traded up $0.97 during midday trading on Friday, hitting $86.95. The company's stock had a trading volume of 780,467 shares, compared to its average volume of 905,654. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of 158.09 and a beta of 0.94. The stock's 50 day simple moving average is $78.21 and its 200 day simple moving average is $97.93. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 1.91.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate 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 negative return on equity of 17.54% and a net margin of 4.62%. The firm's revenue was up 18.3% compared to the same quarter last year. During the same period last year, the business posted ($0.35) earnings per share. As a group, research analysts anticipate that Elastic will post -0.92 earnings per share for the current 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.