WCM Investment Management LLC Acquires 12,490 Shares of Elastic (NYSE:ESTC)

WCM Investment Management LLC lifted its stake in shares of Elastic (NYSE:ESTC - Free Report) by 5.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 255,815 shares of the company's stock after acquiring an additional 12,490 shares during the period. WCM Investment Management LLC owned 0.25% of Elastic worth $19,787,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Asset Dedication LLC raised its holdings in Elastic by 1,333.3% in the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company's stock valued at $34,000 after acquiring an additional 280 shares during the last quarter. AlphaCentric Advisors LLC purchased a new position in Elastic during the second quarter worth about $40,000. Quarry LP acquired a new stake in Elastic in the 2nd quarter worth about $40,000. Lynx Investment Advisory purchased a new stake in Elastic in the 2nd quarter valued at about $43,000. Finally, Signaturefd LLC increased its stake in shares of Elastic by 44.1% during the 2nd quarter. Signaturefd LLC now owns 389 shares of the company's stock valued at $44,000 after acquiring an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Elastic Stock Performance

NYSE ESTC traded up $3.00 during trading on Monday, hitting $89.95. The company's stock had a trading volume of 1,300,469 shares, compared to its average volume of 1,273,976. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06. The firm has a market cap of $9.24 billion, a P/E ratio of 163.55 and a beta of 0.94. The firm has a 50 day moving average price of $78.49 and a 200 day moving average price of $97.83. The company has a quick ratio of 1.91, a current 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 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.10. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The business had revenue of $347.42 million during the quarter, compared to analyst estimates of $344.67 million. During the same quarter in the prior year, the business earned ($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 forecast that Elastic will post -0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ESTC has been the subject of several research analyst reports. Bank of America lowered shares of Elastic from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $140.00 to $94.00 in a research report on Friday, August 30th. DA Davidson cut their target price on Elastic from $100.00 to $75.00 and set a "neutral" rating on the stock in a research report on Friday, August 30th. Rosenblatt Securities reissued a "buy" rating and set a $136.00 price target on shares of Elastic in a research report on Tuesday, August 27th. Stifel Nicolaus dropped their price target on Elastic from $120.00 to $98.00 and set a "buy" rating for the company in a research note on Friday, August 30th. Finally, Canaccord Genuity Group reduced their price objective on Elastic from $125.00 to $110.00 and set a "buy" rating on the stock in a research note on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Elastic presently has a consensus rating of "Moderate Buy" and an average target price of $103.71.

Insider Transactions at Elastic

In other Elastic 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 transaction of $315,352.25. Following the sale, the insider now directly owns 102,959 shares of the company's stock, valued at approximately $7,232,869.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Elastic news, insider Carolyn Herzog sold 4,489 shares of the business'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 transaction, the insider now directly owns 102,959 shares of the company's stock, valued at approximately $7,232,869.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Shay Banon sold 2,666 shares of the business's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $187,286.50. Following the completion of the transaction, the chief technology officer now owns 4,543,190 shares of the company's stock, valued at $319,159,097.50. This trade 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. 15.90% of the stock is owned by insiders.

Elastic 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.