Elastic (NYSE:ESTC) Position Decreased by LMR Partners LLP

LMR Partners LLP trimmed its position in shares of Elastic (NYSE:ESTC - Free Report) by 70.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 68,806 shares of the company's stock after selling 167,500 shares during the quarter. LMR Partners LLP owned approximately 0.07% of Elastic worth $5,282,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. 1832 Asset Management L.P. purchased a new stake in Elastic during the 2nd quarter worth about $248,335,000. Assenagon Asset Management S.A. acquired a new position in shares of Elastic in the second quarter valued at approximately $102,169,000. Federated Hermes Inc. grew its stake in Elastic by 32,630.2% in the 2nd quarter. Federated Hermes Inc. now owns 615,655 shares of the company's stock worth $70,129,000 after acquiring an additional 613,774 shares during the period. Fiera Capital Corp acquired a new position in Elastic in the 3rd quarter valued at $15,623,000. Finally, Neumann Advisory Hong Kong Ltd acquired a new stake in shares of Elastic during the third quarter worth $12,078,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Elastic

In related news, insider Carolyn Herzog sold 4,489 shares of the company'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 $315,352.25. Following the completion of the sale, the insider now owns 102,959 shares of the company's stock, valued at $7,232,869.75. This represents a 4.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paul R. Auvil III bought 20,000 shares of the stock in a transaction on 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 purchase, 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 disclosure for this purchase can be found here. Over the last quarter, insiders sold 37,406 shares of company stock worth $2,627,772. Insiders own 15.90% of the company's stock.

Elastic Stock Up 2.5 %

Shares of NYSE:ESTC traded up $2.19 during midday trading on Tuesday, reaching $88.25. The company had a trading volume of 1,872,320 shares, compared to its average volume of 1,277,114. The stock's fifty day moving average price is $80.11 and its 200-day moving average price is $97.24. The stock has a market capitalization of $9.07 billion, a P/E ratio of 156.47 and a beta of 0.94. Elastic has a one year low of $69.00 and a one year high of $136.06. 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 (NYSE:ESTC - Get Free Report) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.10. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. The firm had revenue of $347.42 million for the quarter, compared to analysts' expectations of $344.67 million. During the same period last year, the business posted ($0.35) earnings per share. The firm's revenue for the quarter was up 18.3% on a year-over-year basis. Equities research analysts expect that Elastic will post -0.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Bank of America downgraded Elastic from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $140.00 to $94.00 in a research report on Friday, August 30th. TD Cowen decreased their target price on shares of 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 dropped their price target on shares of Elastic from $140.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, August 30th. Barclays lifted their price target on shares of Elastic from $95.00 to $105.00 and gave the company an "overweight" rating in a report on Friday. Finally, Baird R W downgraded Elastic from a "strong-buy" rating to a "hold" rating in a report on Friday, August 30th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $104.19.

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.