12,539 Shares in Elastic (NYSE:ESTC) Acquired by Grandeur Peak Global Advisors LLC

Grandeur Peak Global Advisors LLC bought a new position in shares of Elastic (NYSE:ESTC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,539 shares of the company’s stock, valued at approximately $1,394,000.

Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in shares of Elastic by 252.6% in the first quarter. Bank of New York Mellon Corp now owns 1,428,580 shares of the company’s stock valued at $158,858,000 after buying an additional 1,023,475 shares in the last quarter. Morgan Stanley increased its holdings in shares of Elastic by 142.7% in the fourth quarter. Morgan Stanley now owns 1,347,381 shares of the company’s stock valued at $196,893,000 after buying an additional 792,117 shares in the last quarter. Marcho Partners LLP increased its holdings in shares of Elastic by 120.4% in the first quarter. Marcho Partners LLP now owns 1,118,609 shares of the company’s stock valued at $124,389,000 after buying an additional 611,001 shares in the last quarter. Norges Bank bought a new position in shares of Elastic in the fourth quarter valued at $88,064,000. Finally, Sylebra Capital Ltd increased its holdings in shares of Elastic by 7.3% in the first quarter. Sylebra Capital Ltd now owns 5,048,948 shares of the company’s stock valued at $561,443,000 after buying an additional 343,631 shares in the last quarter. 76.58% of the stock is currently owned by hedge funds and other institutional investors.

In other Elastic news, SVP W.H. Baird Garrett sold 1,000 shares of the business’s stock in a transaction on Wednesday, June 30th. The shares were sold at an average price of $148.13, for a total transaction of $148,130.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan Chadwick sold 6,250 shares of the business’s stock in a transaction on Monday, April 26th. The stock was sold at an average price of $127.83, for a total transaction of $798,937.50. Following the transaction, the director now directly owns 10,029 shares of the company’s stock, valued at approximately $1,282,007.07. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,147 shares of company stock valued at $3,217,675. Company insiders own 25.20% of the company’s stock.

NYSE:ESTC traded up $0.99 during trading hours on Thursday, reaching $145.24. The company’s stock had a trading volume of 411 shares, compared to its average volume of 600,541. The company has a market cap of $13.29 billion, a P/E ratio of -97.47 and a beta of 1.08. Elastic has a one year low of $80.18 and a one year high of $176.49. The business has a 50-day moving average of $133.89.

Elastic (NYSE:ESTC) last released its earnings results on Tuesday, June 1st. The company reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.08. The firm had revenue of $177.60 million during the quarter, compared to analyst estimates of $158.87 million. Elastic had a negative net margin of 21.27% and a negative return on equity of 23.15%. The business’s revenue was up 43.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.12) EPS. On average, research analysts predict that Elastic will post -1.71 earnings per share for the current fiscal year.

ESTC has been the topic of several research analyst reports. lifted their price objective on shares of Elastic from $161.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, June 3rd. Piper Sandler lifted their price objective on shares of Elastic from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, July 9th. Royal Bank of Canada lifted their price objective on shares of Elastic from $183.00 to $194.00 and gave the stock an “outperform” rating in a research report on Thursday, June 3rd. Barclays lowered their price objective on shares of Elastic from $200.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, June 3rd. Finally, Sumitomo Mitsui Financial Group initiated coverage on shares of Elastic in a research report on Wednesday, June 16th. They set an “outperform” rating and a $150.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $170.52.

Elastic Profile

Elastic N.V., a search company, delivers technology that enables users to search through structured and unstructured data for a range of consumer and enterprise applications. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as perform search, analysis, and visualization.

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Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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