800 Shares in Elastic (NYSE:ESTC) Purchased by Eastern Bank

Eastern Bank bought a new position in shares of Elastic (NYSE:ESTC) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 800 shares of the company’s stock, valued at approximately $61,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Advisors Asset Management Inc. grew its holdings in Elastic by 12.7% during the first quarter. Advisors Asset Management Inc. now owns 1,053 shares of the company’s stock worth $106,000 after acquiring an additional 119 shares during the period. Signaturefd LLC grew its holdings in Elastic by 44.1% in the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after purchasing an additional 119 shares during the period. PNC Financial Services Group Inc. grew its holdings in Elastic by 8.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,469 shares of the company’s stock valued at $278,000 after purchasing an additional 185 shares during the period. Headlands Technologies LLC grew its holdings in Elastic by 75.4% in the second quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock valued at $72,000 after purchasing an additional 270 shares during the period. Finally, Asset Dedication LLC grew its holdings in Elastic by 1,333.3% in the second quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after purchasing an additional 280 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CTO Shay Banon sold 2,666 shares of Elastic stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $187,286.50. Following the completion of the sale, the chief technology officer now directly owns 4,543,190 shares of the company’s stock, valued at approximately $319,159,097.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CTO Shay Banon sold 2,666 shares of Elastic stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $187,286.50. Following the completion of the sale, the chief technology officer now directly owns 4,543,190 shares of the company’s stock, valued at approximately $319,159,097.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul R. Auvil III bought 20,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average cost of $74.25 per share, with a total value of $1,485,000.00. Following the completion of the purchase, the director now directly owns 22,627 shares in the company, valued at $1,680,054.75. This represents a 700.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 37,406 shares of company stock valued at $2,627,772. 18.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ESTC has been the topic of several research analyst reports. Piper Sandler dropped their price objective on Elastic from $131.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Canaccord Genuity Group dropped their price objective on Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. DA Davidson dropped their price objective on Elastic from $100.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, August 30th. Needham & Company LLC restated a “hold” rating on shares of Elastic in a research report on Tuesday, October 8th. Finally, UBS Group decreased their target price on Elastic from $135.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.71.

Elastic Price Performance

NYSE:ESTC opened at $79.35 on Friday. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $8.07 billion, a P/E ratio of 149.72 and a beta of 0.94. The stock’s fifty day moving average is $82.52 and its two-hundred day moving average is $99.01.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, August 29th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.10. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. The company had revenue of $347.42 million for the quarter, compared to the consensus estimate of $344.67 million. During the same quarter in the previous year, the business earned ($0.35) earnings per share. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. Equities analysts expect that Elastic will post -0.91 EPS for the current year.

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.