Elastic (NYSE:ESTC) Shares Purchased by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. raised its position in Elastic (NYSE:ESTC) by 39.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 365,000 shares of the company’s stock after purchasing an additional 103,000 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Elastic were worth $28,017,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Elastic by 0.5% in the first quarter. Vanguard Group Inc. now owns 8,613,723 shares of the company’s stock valued at $863,440,000 after purchasing an additional 44,597 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in Elastic in the second quarter valued at $248,335,000. Assenagon Asset Management S.A. acquired a new stake in Elastic in the second quarter valued at $102,169,000. Federated Hermes Inc. grew its holdings in Elastic by 32,630.2% in the second quarter. Federated Hermes Inc. now owns 615,655 shares of the company’s stock valued at $70,129,000 after purchasing an additional 613,774 shares during the last quarter. Finally, Driehaus Capital Management LLC grew its holdings in Elastic by 4.3% in the second quarter. Driehaus Capital Management LLC now owns 499,915 shares of the company’s stock valued at $56,945,000 after purchasing an additional 20,633 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insider Buying and Selling

In other Elastic news, CFO Janesh Moorjani sold 6,941 shares of Elastic 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 $487,605.25. Following the sale, the chief financial officer now directly owns 195,550 shares in the company, valued at $13,737,387.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Elastic news, CTO Shay Banon sold 2,666 shares of Elastic 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 sale, the chief technology officer now directly owns 4,543,190 shares in the company, valued at $319,159,097.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Janesh Moorjani sold 6,941 shares of Elastic stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $487,605.25. Following the sale, the chief financial officer now owns 195,550 shares in the company, valued at $13,737,387.50. This represents 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 have sold 37,406 shares of company stock valued at $2,627,772. Corporate insiders own 15.90% of the company’s stock.

Elastic Stock Up 1.1 %

Elastic stock traded up $0.97 during midday trading on Friday, hitting $86.95. 780,467 shares of the company were exchanged, compared to its average volume of 905,654. The company’s fifty day moving average price is $78.21 and its 200-day moving average price is $97.97. The company has a market cap of $8.93 billion, a PE ratio of 158.09 and a beta of 0.94. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.25 by $0.10. The firm had revenue of $347.42 million for the quarter, compared to analyst estimates of $344.67 million. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. Elastic’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.35) EPS. On average, research analysts predict that Elastic will post -0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on ESTC. Wedbush raised Elastic to a “hold” rating in a research note on Thursday, October 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a research note on Tuesday, October 8th. Jefferies Financial Group decreased their price objective on Elastic from $140.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Rosenblatt Securities reaffirmed a “buy” rating and set a $136.00 price objective on shares of Elastic in a research note on Tuesday, August 27th. Finally, Scotiabank decreased their price objective on Elastic from $135.00 to $92.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 30th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $103.71.

About Elastic

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.