Elastic (NYSE:ESTC) Stock Holdings Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Elastic (NYSE:ESTC) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,050 shares of the company’s stock after acquiring an additional 1,488 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Elastic were worth $3,765,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ESTC. GAMMA Investing LLC acquired a new position in shares of Elastic in the 4th quarter valued at $39,000. AlphaCentric Advisors LLC acquired a new position in shares of Elastic in the second quarter worth about $40,000. Lynx Investment Advisory purchased a new position in shares of Elastic in the second quarter worth approximately $43,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Elastic during the first quarter valued at approximately $64,000. Finally, Advisors Asset Management Inc. lifted its position in shares of Elastic by 12.7% in the 1st quarter. Advisors Asset Management Inc. now owns 1,053 shares of the company’s stock valued at $106,000 after acquiring an additional 119 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Stock Down 26.5 %

Shares of Elastic stock opened at $76.16 on Friday. Elastic has a 12-month low of $59.30 and a 12-month high of $136.06. The stock has a market capitalization of $7.75 billion, a P/E ratio of 143.70 and a beta of 0.98. 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 stock has a 50 day moving average price of $109.70 and a two-hundred day moving average price of $108.47.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ESTC shares. Royal Bank of Canada lowered their price objective on shares of Elastic from $135.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday. Citigroup lifted their price target on Elastic from $155.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday. Piper Sandler reduced their price objective on Elastic from $131.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday. Canaccord Genuity Group lowered their target price on Elastic from $130.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Finally, Barclays reduced their price target on shares of Elastic from $117.00 to $106.00 and set an “equal weight” rating for the company in a research report on Friday. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.20.

Insider Buying and Selling at Elastic

In other news, CTO Shay Banon sold 5,260 shares of Elastic stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $109.89, for a total value of $578,021.40. Following the transaction, the chief technology officer now directly owns 4,545,856 shares in the company, valued at $499,544,115.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Elastic news, CEO Ashutosh Kulkarni sold 9,664 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $109.88, for a total value of $1,061,880.32. Following the sale, the chief executive officer now directly owns 452,297 shares in the company, valued at approximately $49,698,394.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Shay Banon sold 5,260 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $109.89, for a total transaction of $578,021.40. Following the transaction, the chief technology officer now directly owns 4,545,856 shares of the company’s stock, valued at approximately $499,544,115.84. The disclosure for this sale can be found here. Insiders sold 355,312 shares of company stock worth $38,626,610 over the last ninety days. Company insiders own 18.10% of the company’s stock.

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.