375 Shares in Elastic (NYSE:ESTC) Acquired by Lynx Investment Advisory

Lynx Investment Advisory bought a new position in shares of Elastic (NYSE:ESTC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 375 shares of the company’s stock, valued at approximately $43,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisors Asset Management Inc. boosted its position in Elastic by 12.7% during the first quarter. Advisors Asset Management Inc. now owns 1,053 shares of the company’s stock valued at $106,000 after purchasing an additional 119 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Elastic by 8.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,469 shares of the company’s stock worth $278,000 after buying an additional 185 shares during the last quarter. Rakuten Securities Inc. bought a new position in shares of Elastic during the 4th quarter worth approximately $25,000. CWM LLC lifted its position in Elastic by 5.9% during the fourth quarter. CWM LLC now owns 4,924 shares of the company’s stock valued at $555,000 after acquiring an additional 276 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in Elastic by 11.7% in the fourth quarter. M&T Bank Corp now owns 3,164 shares of the company’s stock valued at $357,000 after acquiring an additional 332 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ESTC. Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a report on Friday, May 31st. Robert W. Baird dropped their price target on Elastic from $137.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Barclays decreased their price objective on shares of Elastic from $128.00 to $117.00 and set an “equal weight” rating for the company in a research report on Friday, May 31st. Citigroup boosted their target price on shares of Elastic from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Elastic from $138.00 to $125.00 and set an “overweight” rating for the company in a report on Friday, May 24th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.05.

Insider Activity at Elastic

In other news, CTO Shay Banon sold 5,260 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $109.89, for a total transaction of $578,021.40. Following the completion of the sale, the chief technology officer now owns 4,545,856 shares of the company’s stock, valued at $499,544,115.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Elastic news, CEO Ashutosh Kulkarni sold 9,664 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $109.88, for a total value of $1,061,880.32. Following the transaction, the chief executive officer now owns 452,297 shares in the company, valued at approximately $49,698,394.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Shay Banon sold 5,260 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $109.89, for a total transaction of $578,021.40. Following the sale, the chief technology officer now directly owns 4,545,856 shares of the company’s stock, valued at approximately $499,544,115.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 355,312 shares of company stock valued at $38,626,610. 18.10% of the stock is owned by company insiders.

Elastic Stock Performance

Shares of NYSE:ESTC traded up $1.54 during trading on Wednesday, hitting $103.07. 307,257 shares of the stock traded hands, compared to its average volume of 1,277,298. Elastic has a 52-week low of $57.38 and a 52-week high of $136.06. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.77. The company has a fifty day moving average price of $111.11 and a two-hundred day moving average price of $110.54. The company has a market cap of $10.48 billion, a price-to-earnings ratio of 201.74 and a beta of 0.98.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, May 30th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.03). The business had revenue of $335.00 million during the quarter, compared to analyst estimates of $329.15 million. Elastic had a negative return on equity of 20.83% and a net margin of 4.87%. As a group, equities analysts predict that Elastic will post -1.12 EPS for the current year.

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.