Aquila Investment Management LLC Has $2.99 Million Holdings in Elastic (NYSE:ESTC)

Aquila Investment Management LLC grew its stake in shares of Elastic (NYSE:ESTC - Free Report) by 85.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,000 shares of the company's stock after purchasing an additional 18,000 shares during the period. Elastic comprises about 3.3% of Aquila Investment Management LLC's holdings, making the stock its 8th biggest holding. Aquila Investment Management LLC's holdings in Elastic were worth $2,994,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Asset Dedication LLC lifted its holdings 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 purchasing an additional 280 shares during the last quarter. AlphaCentric Advisors LLC purchased a new stake in shares of Elastic during the second quarter valued at $40,000. Quarry LP purchased a new stake in shares of Elastic during the second quarter valued at $40,000. Lynx Investment Advisory acquired a new position in Elastic during the second quarter valued at $43,000. Finally, Signaturefd LLC raised its position in Elastic by 44.1% during the second quarter. Signaturefd LLC now owns 389 shares of the company's stock valued at $44,000 after buying an additional 119 shares during the period. 97.03% of the stock is owned by hedge funds and other institutional investors.

Elastic Stock Performance

NYSE:ESTC traded down $1.84 during mid-day trading on Wednesday, hitting $77.58. 900,906 shares of the company's stock traded hands, compared to its average volume of 1,307,458. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06. The firm has a market capitalization of $7.89 billion, a price-to-earnings ratio of 146.72 and a beta of 0.94. The firm has a 50 day moving average of $84.28 and a two-hundred day moving average of $99.44. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share 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 company had revenue of $347.42 million for the quarter, compared to analyst estimates of $344.67 million. During the same quarter last year, the firm earned ($0.35) EPS. Elastic's revenue for the quarter was up 18.3% compared to the same quarter last year. On average, equities analysts forecast that Elastic will post -0.91 earnings per share for the current fiscal year.

Insider Transactions at Elastic

In related news, CTO Shay Banon sold 2,666 shares of the business's stock in a transaction on 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 of the company's stock, valued at $319,159,097.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CRO Mark Eugene Dodds sold 3,661 shares of the business's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $257,185.25. Following the sale, the executive now owns 102,683 shares of the company's stock, valued at $7,213,480.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Shay Banon sold 2,666 shares of the business's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $187,286.50. Following the completion of the sale, the chief technology officer now directly owns 4,543,190 shares in the company, valued at approximately $319,159,097.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,406 shares of company stock valued at $2,627,772. 18.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Stifel Nicolaus dropped their price target on Elastic from $120.00 to $98.00 and set a "buy" rating on the stock in a research report on Friday, August 30th. DA Davidson dropped their price target on Elastic from $100.00 to $75.00 and set a "neutral" rating on the stock in a research report on Friday, August 30th. Jefferies Financial Group dropped their price target on Elastic from $140.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, August 30th. Guggenheim assumed coverage on Elastic in a research report on Wednesday, September 11th. They set a "buy" rating and a $100.00 price target on the stock. Finally, Needham & Company LLC reissued a "hold" rating on shares of Elastic in a research report on Tuesday, October 8th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $103.71.

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.