Elastic (NYSE:ESTC) Holdings Cut by ClariVest Asset Management LLC

ClariVest Asset Management LLC reduced its stake in Elastic (NYSE:ESTC) by 0.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,419 shares of the company’s stock after selling 158 shares during the period. ClariVest Asset Management LLC’s holdings in Elastic were worth $1,846,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ESTC. Rakuten Securities Inc. bought a new position in Elastic in the 4th quarter worth about $25,000. GAMMA Investing LLC bought a new position in Elastic in the 4th quarter worth approximately $39,000. Cypress Capital Management LLC WY bought a new stake in Elastic during the 4th quarter valued at $45,000. Allspring Global Investments Holdings LLC bought a new stake in Elastic during the 1st quarter valued at $64,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Elastic in the fourth quarter worth $97,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ESTC. UBS Group assumed coverage on shares of Elastic in a research note on Wednesday, May 22nd. They set a “buy” rating and a $135.00 price objective on the stock. Canaccord Genuity Group reduced their price target on shares of Elastic from $130.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Robert W. Baird lowered their price objective on shares of Elastic from $137.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Scotiabank cut their target price on Elastic from $154.00 to $135.00 and set a “sector outperform” rating for the company in a research report on Friday, May 31st. Finally, Bank of America lowered their price target on Elastic from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.05.

Elastic Trading Up 1.4 %

Shares of ESTC stock traded up $1.66 during trading hours on Friday, reaching $122.27. 1,325,496 shares of the stock traded hands, compared to its average volume of 989,794. 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 firm has a market capitalization of $12.44 billion, a PE ratio of 230.70 and a beta of 0.98. Elastic has a 1-year low of $57.38 and a 1-year high of $136.06. The business has a fifty day moving average price of $109.89 and a 200 day moving average price of $110.62.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, May 30th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.03). The firm had revenue of $335.00 million for the quarter, compared to analysts’ expectations of $329.15 million. Elastic had a negative return on equity of 20.83% and a net margin of 4.87%. On average, equities research analysts forecast that Elastic will post -1.12 EPS for the current year.

Insider Activity at Elastic

In other Elastic news, CTO Shay Banon sold 120,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $109.48, for a total transaction of $13,137,600.00. Following the completion of the sale, the chief technology officer now directly owns 2,754,978 shares in the company, valued at approximately $301,614,991.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Elastic news, CTO Shay Banon sold 120,000 shares of Elastic stock in a transaction on Monday, June 24th. The shares were sold at an average price of $109.48, for a total transaction of $13,137,600.00. Following the completion of the sale, the chief technology officer now owns 2,754,978 shares of the company’s stock, valued at approximately $301,614,991.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ashutosh Kulkarni sold 18,819 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $109.90, for a total transaction of $2,068,208.10. Following the transaction, the chief executive officer now owns 461,961 shares in the company, valued at $50,769,513.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 355,312 shares of company stock valued at $38,626,610. Company insiders own 18.10% of the company’s stock.

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.