Oppenheimer & Co. Inc. grew its holdings in shares of Elastic (NYSE:ESTC – Get Rating) by 9.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,640 shares of the company’s stock after acquiring an additional 670 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Elastic were worth $548,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Elastic by 1.5% in the first quarter. Vanguard Group Inc. now owns 7,038,914 shares of the company’s stock worth $626,112,000 after purchasing an additional 101,159 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Elastic by 4.8% in the first quarter. BlackRock Inc. now owns 5,616,149 shares of the company’s stock worth $499,557,000 after purchasing an additional 259,742 shares during the last quarter. Baillie Gifford & Co. bought a new position in shares of Elastic in the third quarter worth approximately $347,776,000. Sylebra Capital Ltd grew its holdings in shares of Elastic by 10.2% in the second quarter. Sylebra Capital Ltd now owns 4,496,835 shares of the company’s stock worth $304,301,000 after purchasing an additional 416,633 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Elastic by 37.8% in the second quarter. JPMorgan Chase & Co. now owns 3,077,284 shares of the company’s stock worth $208,240,000 after purchasing an additional 843,403 shares during the last quarter. 78.40% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Elastic
In other news, CTO Shay Banon sold 2,026 shares of Elastic stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $53.60, for a total value of $108,593.60. Following the completion of the transaction, the chief technology officer now owns 8,245,848 shares of the company’s stock, valued at approximately $441,977,452.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Elastic news, CEO Ashutosh Kulkarni sold 3,619 shares of the business’s stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $53.60, for a total value of $193,978.40. Following the completion of the transaction, the chief executive officer now owns 355,135 shares of the company’s stock, valued at approximately $19,035,236. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Shay Banon sold 2,026 shares of the business’s stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $53.60, for a total value of $108,593.60. Following the completion of the transaction, the chief technology officer now directly owns 8,245,848 shares of the company’s stock, valued at approximately $441,977,452.80. The disclosure for this sale can be found here. Insiders sold a total of 10,944 shares of company stock valued at $586,598 in the last quarter. 18.80% of the stock is owned by insiders.
Elastic Price Performance
Elastic (NYSE:ESTC – Get Rating) last posted its quarterly earnings results on Wednesday, November 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.10. The firm had revenue of $264.40 million during the quarter, compared to analyst estimates of $261.25 million. Elastic had a negative return on equity of 53.77% and a negative net margin of 24.46%. Sell-side analysts predict that Elastic will post -1.91 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research firms recently weighed in on ESTC. Rosenblatt Securities cut their price target on shares of Elastic to $96.00 in a report on Friday, December 2nd. Wedbush began coverage on shares of Elastic in a report on Wednesday, December 14th. They issued a “neutral” rating and a $67.00 price target on the stock. Canaccord Genuity Group cut their price target on shares of Elastic from $100.00 to $82.00 in a report on Thursday, December 1st. Barclays lifted their price target on shares of Elastic from $62.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, February 15th. Finally, Piper Sandler cut their price target on shares of Elastic from $70.00 to $62.00 in a report on Thursday, January 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.
Elastic Profile
Elastic NV engages in the provision of open-source search and analytics engine services. It 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. The firms Elastic Stack product comprises Elasticsearch, a distributed, real-time search and analytics engine, and data store for various types of data, including textual, numerical, geospatial, structured, and unstructured, Kibana, a user interface, management, and configuration interface for the Elastic Stack, Beats, a single-purpose data shippers for sending data from edge machines to Elasticsearch or Logstash, and Logstash, a data processing pipeline for ingesting data into Elasticsearch or other storage systems.
See Also
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