16,439 Shares in Elastic (NYSE:ESTC) Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC bought a new stake in shares of Elastic (NYSE:ESTC - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 16,439 shares of the company's stock, valued at approximately $1,262,000.

Other institutional investors also recently bought and sold shares of the company. Asset Dedication LLC raised its stake in shares of Elastic by 1,333.3% during the second quarter. Asset Dedication LLC now owns 301 shares of the company's stock valued at $34,000 after acquiring an additional 280 shares in the last quarter. AlphaCentric Advisors LLC bought a new position in shares of Elastic during the 2nd quarter worth $40,000. Quarry LP purchased a new position in shares of Elastic during the second quarter valued at $40,000. Lynx Investment Advisory bought a new position in Elastic during the 2nd quarter worth about $43,000. Finally, Signaturefd LLC increased its position in Elastic by 44.1% during the 2nd quarter. Signaturefd LLC now owns 389 shares of the company's stock valued at $44,000 after purchasing an additional 119 shares during the period. 97.03% of the stock is currently owned by institutional investors.

Elastic Stock Performance

Shares of Elastic stock traded up $0.22 during trading on Wednesday, hitting $88.49. 1,251,498 shares of the company's stock were exchanged, compared to its average volume of 1,276,998. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 160.89 and a beta of 0.94. The business has a 50-day simple moving average of $80.71 and a 200-day simple moving average of $97.05. Elastic has a 52-week low of $69.00 and a 52-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 released its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, beating 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 negative return on equity of 17.54% and a net margin of 4.62%. The company's revenue was up 18.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.35) EPS. On average, research analysts forecast that Elastic will post -0.92 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ESTC. Rosenblatt Securities reiterated a "buy" rating and set a $120.00 price objective on shares of Elastic in a research note on Wednesday. DA Davidson reduced their price target on Elastic from $100.00 to $75.00 and set a "neutral" rating for the company in a research report on Friday, August 30th. Stifel Nicolaus cut their target price on Elastic from $120.00 to $98.00 and set a "buy" rating on the stock in a research note on Friday, August 30th. Piper Sandler reduced their target price on shares of Elastic from $131.00 to $100.00 and set an "overweight" rating for the company in a report on Friday, August 30th. Finally, Baird R W downgraded shares of Elastic from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $103.43.

Insider Buying and Selling

In other Elastic news, CEO Ashutosh Kulkarni sold 19,649 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 432,648 shares in the company, valued at approximately $30,393,522. This represents a 4.34 % 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. Also, CFO Janesh Moorjani sold 6,941 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $487,605.25. Following the completion of the sale, the chief financial officer now directly owns 195,550 shares in the company, valued at approximately $13,737,387.50. The trade was a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,406 shares of company stock valued at $2,627,772. Corporate insiders own 15.90% of the company's stock.

Elastic 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.