Van ECK Associates Corp Purchases Shares of 32,734 Elastic (NYSE:ESTC)

Van ECK Associates Corp bought a new position in shares of Elastic (NYSE:ESTC - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 32,734 shares of the company's stock, valued at approximately $2,540,000.

Several other large investors also recently modified their holdings of the business. Toronto Dominion Bank purchased a new stake in shares of Elastic in the 1st quarter worth about $5,780,000. Quantbot Technologies LP boosted its position in Elastic by 165.2% during the 1st quarter. Quantbot Technologies LP now owns 12,921 shares of the company's stock valued at $1,295,000 after acquiring an additional 8,048 shares in the last quarter. Interval Partners LP purchased a new position in shares of Elastic during the 1st quarter worth approximately $1,704,000. Russell Investments Group Ltd. raised its position in shares of Elastic by 993.0% in the 1st quarter. Russell Investments Group Ltd. now owns 17,236 shares of the company's stock worth $1,728,000 after acquiring an additional 15,659 shares in the last quarter. Finally, WD Rutherford LLC purchased a new position in shares of Elastic in the 2nd quarter valued at approximately $422,000. 97.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ESTC shares. DA Davidson reduced their price target on Elastic from $100.00 to $75.00 and set a "neutral" rating on the stock in a research note on Friday, August 30th. William Blair raised Elastic from a "market perform" rating to an "outperform" rating in a research report on Monday, October 14th. Barclays raised Elastic from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $90.00 to $95.00 in a research note on Monday, October 7th. Stifel Nicolaus cut their price objective on shares of Elastic from $120.00 to $98.00 and set a "buy" rating on the stock in a research report on Friday, August 30th. Finally, Wells Fargo & Company dropped their target price on shares of Elastic from $145.00 to $100.00 and set an "overweight" rating on the stock in a research note on Friday, August 30th. Eight 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 a consensus rating of "Moderate Buy" and an average target price of $103.71.

Elastic Stock Performance

Shares of Elastic stock traded up $3.00 on Monday, hitting $89.95. 1,300,469 shares of the company's stock were exchanged, compared to its average volume of 1,273,976. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06. The company has a 50-day simple moving average of $78.21 and a 200-day simple moving average of $97.93. 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 market capitalization of $9.24 billion, a PE ratio of 158.09 and a beta of 0.94.

Elastic (NYSE:ESTC - Get Free Report) last released its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.10. The company had revenue of $347.42 million for the quarter, compared to the consensus estimate of $344.67 million. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. Elastic's quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.35) earnings per share. As a group, equities analysts anticipate that Elastic will post -0.92 EPS for the current year.

Insider Buying and Selling

In other Elastic news, insider Carolyn Herzog sold 4,489 shares of Elastic stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $315,352.25. Following the transaction, the insider now owns 102,959 shares of the company's stock, valued at $7,232,869.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Paul R. Auvil III bought 20,000 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased 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. The trade was a 700.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Carolyn Herzog sold 4,489 shares of the firm's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $315,352.25. Following the transaction, the insider now directly owns 102,959 shares of the company's stock, valued at $7,232,869.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,406 shares of company stock valued at $2,627,772. 15.90% of the stock is owned by corporate insiders.

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.