Massachusetts Financial Services Co. MA Has $3.27 Million Stake in Elastic (NYSE:ESTC)

Massachusetts Financial Services Co. MA decreased its position in shares of Elastic (NYSE:ESTC) by 23.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,553 shares of the company’s stock after selling 13,270 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Elastic were worth $3,266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ESTC. Asset Dedication LLC boosted its stake in Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after acquiring an additional 280 shares during the last quarter. AlphaCentric Advisors LLC acquired a new position in shares of Elastic in the second quarter valued at approximately $40,000. Quarry LP acquired a new position in shares of Elastic in the second quarter valued at approximately $40,000. Lynx Investment Advisory acquired a new position in shares of Elastic in the second quarter valued at approximately $43,000. Finally, Signaturefd LLC boosted its holdings in shares of Elastic by 44.1% in the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after buying an additional 119 shares during the period. Institutional investors own 97.03% of the company’s stock.

Elastic Price Performance

Shares of ESTC opened at $111.54 on Wednesday. The firm has a market capitalization of $11.46 billion, a PE ratio of 202.80 and a beta of 0.94. The company’s 50-day moving average is $82.49 and its 200-day moving average is $96.96. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. 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 (NYSE:ESTC) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.10. The company had revenue of $347.42 million for the quarter, compared to analyst estimates of $344.67 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.54%. The company’s revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.35) earnings per share. Equities analysts forecast that Elastic will post -0.92 EPS for the current year.

Insider Activity

In related news, CTO Shay Banon sold 2,666 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $187,286.50. Following the transaction, the chief technology officer now directly owns 4,543,190 shares of the company’s stock, valued at approximately $319,159,097.50. This trade represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ashutosh Kulkarni sold 19,649 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $1,380,342.25. Following the transaction, the chief executive officer now directly owns 432,648 shares in the company, valued at approximately $30,393,522. This represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,406 shares of company stock valued at $2,627,772 over the last ninety days. 15.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays upped their price target on shares of Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a report on Monday. William Blair upgraded shares of Elastic from a “market perform” rating to an “outperform” rating in a report on Monday, October 14th. Truist Financial increased their target price on shares of Elastic from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Bank of America increased their target price on shares of Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Stifel Nicolaus increased their target price on shares of Elastic from $98.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $126.33.

Elastic Company 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.