Elastic (NYSE:ESTC) Shares Bought by Osborne Partners Capital Management LLC

Osborne Partners Capital Management LLC boosted its position in shares of Elastic (NYSE:ESTC - Free Report) by 105.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,052 shares of the company's stock after purchasing an additional 60,057 shares during the quarter. Osborne Partners Capital Management LLC owned about 0.12% of Elastic worth $8,985,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ESTC. Baillie Gifford & Co. lifted its position in shares of Elastic by 30.8% in the 1st quarter. Baillie Gifford & Co. now owns 10,156,726 shares of the company's stock worth $1,018,110,000 after purchasing an additional 2,392,356 shares during the period. 1832 Asset Management L.P. purchased a new stake in Elastic during the second quarter worth $248,335,000. Assenagon Asset Management S.A. bought a new stake in Elastic during the 2nd quarter valued at $102,169,000. Federated Hermes Inc. increased its holdings in shares of Elastic by 32,630.2% in the 2nd quarter. Federated Hermes Inc. now owns 615,655 shares of the company's stock valued at $70,129,000 after acquiring an additional 613,774 shares during the period. Finally, Neumann Advisory Hong Kong Ltd purchased a new position in shares of Elastic in the 3rd quarter valued at $12,078,000. 97.03% of the stock is owned by institutional investors.

Elastic Stock Performance

NYSE ESTC traded up $0.95 on Friday, reaching $79.35. 608,398 shares of the company's stock traded hands, compared to its average volume of 1,302,146. Elastic has a fifty-two week low of $69.00 and a fifty-two 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. The firm has a market cap of $8.07 billion, a price-to-earnings ratio of 149.72 and a beta of 0.94. The stock has a 50 day moving average price of $82.52 and a 200-day moving average price of $99.02.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.10. The business had revenue of $347.42 million during the quarter, compared to analysts' expectations 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 for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.35) EPS. Equities research analysts predict that Elastic will post -0.91 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Bank of America downgraded Elastic from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $140.00 to $94.00 in a research report on Friday, August 30th. Oppenheimer reduced their price objective on shares of Elastic from $150.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, August 30th. DA Davidson lowered their target price on shares of Elastic from $100.00 to $75.00 and set a "neutral" rating for the company in a research note on Friday, August 30th. Rosenblatt Securities reaffirmed a "buy" rating and set a $136.00 price target on shares of Elastic in a research report on Tuesday, August 27th. Finally, Guggenheim assumed coverage on Elastic in a report on Wednesday, September 11th. They set a "buy" rating and a $100.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Elastic has an average rating of "Moderate Buy" and a consensus price target of $103.71.

Insider Activity at Elastic

In other news, Director Paul R. Auvil III purchased 20,000 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $74.25 per share, for a total transaction of $1,485,000.00. Following the completion of the transaction, the director now owns 22,627 shares in the company, valued at $1,680,054.75. This represents a 700.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other Elastic news, Director Paul R. Auvil III purchased 20,000 shares of Elastic stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of $74.25 per share, with a total value of $1,485,000.00. Following the acquisition, the director now owns 22,627 shares of the company's stock, valued at $1,680,054.75. This trade represents a 700.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ashutosh Kulkarni sold 19,649 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 $1,380,342.25. Following the completion of the sale, the chief executive officer now directly owns 432,648 shares in the company, valued at approximately $30,393,522. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,406 shares of company stock worth $2,627,772 in the last three months. Company insiders own 18.10% of the company's stock.

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.