FMR LLC lifted its position in Elastic NV (NYSE:ESTC) by 110.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,046,489 shares of the company’s stock after purchasing an additional 549,862 shares during the quarter. FMR LLC owned about 1.43% of Elastic worth $83,582,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Pearl River Capital LLC bought a new stake in Elastic during the first quarter worth approximately $32,000. Barclays PLC bought a new stake in Elastic during the fourth quarter worth approximately $40,000. Victory Capital Management Inc. bought a new stake in Elastic during the fourth quarter worth approximately $42,000. Botty Investors LLC bought a new stake in Elastic during the first quarter worth approximately $66,000. Finally, PNC Financial Services Group Inc. bought a new stake in Elastic during the fourth quarter worth approximately $100,000. 40.59% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently commented on ESTC. KeyCorp cut their target price on PolyOne from $36.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $185.00 target price (up previously from $150.00) on shares of Mongodb in a research note on Thursday, June 6th. Bank of America set a $20.00 price target on Fiat Chrysler Automobiles and gave the company a “hold” rating in a report on Thursday, June 6th. Stifel Nicolaus began coverage on Elastic in a report on Monday, May 13th. They issued a “hold” rating and a $75.00 price target for the company. Finally, FBN Securities began coverage on Elastic in a report on Tuesday, April 2nd. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $93.92.
Elastic (NYSE:ESTC) last issued its quarterly earnings data on Wednesday, June 5th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.17. The business had revenue of $80.60 million for the quarter, compared to analysts’ expectations of $75.79 million. The company’s revenue was up 62.5% on a year-over-year basis. Equities research analysts predict that Elastic NV will post -2.17 EPS for the current fiscal year.
In related news, CRO Aaron Katz sold 15,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $84.74, for a total value of $1,271,100.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP W.H. Baird Garrett sold 6,000 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $94.00, for a total value of $564,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,529,440 shares of company stock worth $121,933,434. 51.80% of the stock is owned by insiders.
Elastic N.V. develops and delivers technology that enables users to search structured and unstructured data for a range of consumer and enterprise applications. It primarily provides 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.
Recommended Story: Strangles
Receive News & Ratings for Elastic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elastic and related companies with MarketBeat.com's FREE daily email newsletter.