Qsemble Capital Management LP Sells 9,416 Shares of Elastic (NYSE:ESTC)

Qsemble Capital Management LP lessened its position in shares of Elastic (NYSE:ESTC) by 82.9% in the second quarter, HoldingsChannel.com reports. The firm owned 1,948 shares of the company’s stock after selling 9,416 shares during the quarter. Qsemble Capital Management LP’s holdings in Elastic were worth $222,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ESTC. Asset Dedication LLC increased its holdings in Elastic by 1,333.3% in the second quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after purchasing an additional 280 shares in the last quarter. AlphaCentric Advisors LLC acquired a new position in Elastic during the second quarter worth $40,000. Lynx Investment Advisory bought a new position in Elastic in the 2nd quarter valued at about $43,000. Signaturefd LLC lifted 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 purchasing an additional 119 shares in the last quarter. Finally, Headlands Technologies LLC lifted its stake in Elastic by 75.4% during the 2nd quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock valued at $72,000 after acquiring an additional 270 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Elastic Trading Up 1.9 %

NYSE ESTC opened at $75.24 on Friday. The stock has a 50 day simple moving average of $101.67 and a two-hundred day simple moving average of $104.50. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The stock has a market cap of $7.73 billion, a P/E ratio of 141.96 and a beta of 0.94. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 1.91.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.25 by $0.10. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The business had revenue of $347.42 million during the quarter, compared to analyst estimates of $344.67 million. During the same period last year, the business posted ($0.35) earnings per share. Elastic’s quarterly revenue was up 18.3% compared to the same quarter last year. On average, analysts forecast that Elastic will post -0.94 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Shay Banon sold 180,000 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $107.82, for a total value of $19,407,600.00. Following the sale, the chief technology officer now directly owns 2,874,978 shares of the company’s stock, valued at approximately $309,980,127.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Ashutosh Kulkarni sold 9,664 shares of Elastic stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $109.88, for a total value of $1,061,880.32. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Shay Banon sold 180,000 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $107.82, for a total transaction of $19,407,600.00. Following the transaction, the chief technology officer now owns 2,874,978 shares in the company, valued at approximately $309,980,127.96. The disclosure for this sale can be found here. Insiders sold a total of 347,070 shares of company stock worth $36,234,852 in the last three months. 18.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ESTC has been the topic of a number of research analyst reports. Wells Fargo & Company cut their target price on Elastic from $145.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Oppenheimer cut their target price on shares of Elastic from $150.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. Canaccord Genuity Group reduced their price target on Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. TD Cowen decreased their target price on shares of Elastic from $110.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a report on Friday, August 30th. Nine research analysts have rated the stock with a hold rating and fourteen 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 $104.24.

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.