Nordea Investment Management AB Invests $3.10 Million in Elastic (NYSE:ESTC)

Nordea Investment Management AB bought a new stake in shares of Elastic (NYSE:ESTC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 30,829 shares of the company's stock, valued at approximately $3,104,000.

A number of other large investors have also recently made changes to their positions in the stock. Hussman Strategic Advisors Inc. purchased a new stake in Elastic in the first quarter worth about $3,789,000. Baillie Gifford & Co. lifted its stake in Elastic by 30.8% in the first quarter. Baillie Gifford & Co. now owns 10,156,726 shares of the company's stock worth $1,018,110,000 after acquiring an additional 2,392,356 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Elastic in the first quarter worth about $64,000. Principal Financial Group Inc. lifted its stake in Elastic by 177.6% in the first quarter. Principal Financial Group Inc. now owns 87,183 shares of the company's stock worth $8,739,000 after acquiring an additional 55,778 shares during the period. Finally, Benjamin F. Edwards & Company Inc. bought a new position in Elastic in the first quarter worth about $286,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ESTC has been the subject of a number of recent research reports. Barclays reduced their target price on shares of Elastic from $128.00 to $117.00 and set an "equal weight" rating for the company in a report on Friday, May 31st. Robert W. Baird reduced their target price on shares of Elastic from $137.00 to $135.00 and set an "outperform" rating for the company in a report on Tuesday, May 28th. Stifel Nicolaus reduced their target price on shares of Elastic from $130.00 to $120.00 and set a "buy" rating for the company in a report on Friday, May 31st. JPMorgan Chase & Co. reduced their target price on shares of Elastic from $138.00 to $125.00 and set an "overweight" rating for the company in a report on Friday, May 24th. Finally, UBS Group assumed coverage on shares of Elastic in a report on Wednesday, May 22nd. They issued a "buy" rating and a $135.00 target price for the company. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $118.05.

Insider Transactions at Elastic

In other Elastic news, CRO Mark Eugene Dodds sold 3,457 shares of the firm's stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $110.78, for a total value of $382,966.46. Following the transaction, the executive now owns 82,498 shares of the company's stock, valued at $9,139,128.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Janesh Moorjani sold 10,011 shares of the firm's stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $109.90, for a total transaction of $1,100,208.90. Following the transaction, the chief financial officer now owns 202,491 shares in the company, valued at $22,253,760.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Mark Eugene Dodds sold 3,457 shares of Elastic stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $110.78, for a total transaction of $382,966.46. Following the completion of the transaction, the executive now owns 82,498 shares in the company, valued at approximately $9,139,128.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 355,312 shares of company stock valued at $38,626,610. Insiders own 18.10% of the company's stock.

Elastic Stock Performance

Shares of NYSE:ESTC traded up $5.26 during trading on Thursday, reaching $120.61. The company had a trading volume of 1,898,401 shares, compared to its average volume of 1,320,767. Elastic has a fifty-two week low of $57.38 and a fifty-two week high of $136.06. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.76 and a quick ratio of 1.76. The stock's fifty day moving average price is $109.56 and its 200 day moving average price is $110.59. The firm has a market capitalization of $12.27 billion, a price-to-earnings ratio of 227.57 and a beta of 0.98.

Elastic (NYSE:ESTC - Get Free Report) last posted its earnings results on Thursday, May 30th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.03). Elastic had a net margin of 4.87% and a negative return on equity of 20.83%. The company had revenue of $335.00 million during the quarter, compared to analysts' expectations of $329.15 million. As a group, equities research analysts predict that Elastic will post -1.12 EPS for the current year.

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.