Elastic (NYSE:ESTC) Shares Sold by KBC Group NV

KBC Group NV lowered its position in shares of Elastic (NYSE:ESTC - Free Report) by 95.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,415 shares of the company's stock after selling 48,206 shares during the period. KBC Group NV's holdings in Elastic were worth $185,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Asset Dedication LLC boosted its holdings in shares of Elastic by 1,333.3% in the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company's stock valued at $34,000 after buying an additional 280 shares in the last quarter. AlphaCentric Advisors LLC acquired a new stake in Elastic in the second quarter worth about $40,000. Quarry LP purchased a new stake in shares of Elastic during the second quarter worth about $40,000. Lynx Investment Advisory acquired a new position in shares of Elastic during the second quarter valued at about $43,000. Finally, Signaturefd LLC raised its position in shares of Elastic by 44.1% in 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 last quarter. 97.03% of the stock is currently owned by institutional investors.

Elastic Stock Performance

Shares of ESTC opened at $88.49 on Thursday. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06. The stock has a market capitalization of $9.09 billion, a PE ratio of 160.89 and a beta of 0.94. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 1.91. The stock has a 50-day simple moving average of $80.71 and a 200-day simple moving average of $97.05.

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, topping analysts' consensus estimates of $0.25 by $0.10. The company had revenue of $347.42 million during 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%. The firm's quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. On average, analysts predict that Elastic will post -0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Canaccord Genuity Group cut their price target on shares of Elastic from $125.00 to $110.00 and set a "buy" rating on the stock in a research note on Tuesday, September 3rd. Stifel Nicolaus reduced their price target on shares of Elastic from $120.00 to $98.00 and set a "buy" rating for the company in a research report on Friday, August 30th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $120.00 price objective on shares of Elastic in a report on Wednesday. Scotiabank decreased their target price on shares of Elastic from $135.00 to $92.00 and set a "sector outperform" rating for the company in a research report on Friday, August 30th. Finally, Oppenheimer cut their price target on Elastic from $150.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, August 30th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Elastic has an average rating of "Moderate Buy" and an average target price of $103.43.

Insider Buying and Selling at Elastic

In other news, Director Paul R. Auvil III acquired 20,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $74.25 per share, with a total value of $1,485,000.00. Following the completion of the acquisition, the director now owns 22,627 shares in the company, valued at $1,680,054.75. This trade represents a 761.32 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Shay Banon sold 2,666 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 $187,286.50. Following the sale, the chief technology officer now owns 4,543,190 shares in the company, valued at $319,159,097.50. This trade represents a 0.06 % 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 three months. 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.