Ensign Peak Advisors Inc Cuts Stock Holdings in Elastic (NYSE:ESTC)

Ensign Peak Advisors Inc lessened its position in Elastic (NYSE:ESTC) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,301 shares of the company’s stock after selling 2,320 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Elastic were worth $3,452,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hsbc Holdings PLC boosted its stake in Elastic by 23.3% during the second quarter. Hsbc Holdings PLC now owns 15,486 shares of the company’s stock worth $1,772,000 after buying an additional 2,927 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Elastic by 20.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,710 shares of the company’s stock valued at $764,000 after buying an additional 1,123 shares during the period. Andar Capital Management HK Ltd acquired a new stake in shares of Elastic during the 2nd quarter worth approximately $2,278,000. Dimensional Fund Advisors LP raised its position in shares of Elastic by 16.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 216,287 shares of the company’s stock valued at $24,640,000 after buying an additional 30,810 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in Elastic by 4.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 55,823 shares of the company’s stock worth $6,359,000 after acquiring an additional 2,586 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ESTC has been the subject of a number of recent analyst reports. Oppenheimer dropped their price target 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 cut 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. Wells Fargo & Company cut their price target on shares of Elastic from $145.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Barclays dropped their price objective on shares of Elastic from $106.00 to $90.00 and set an “equal weight” rating for the company in a report on Friday, September 20th. Finally, Citigroup raised their price target on shares of Elastic from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.48.

Elastic Stock Performance

Shares of ESTC stock opened at $77.58 on Friday. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 1.91. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 146.38 and a beta of 0.94. The stock’s 50-day moving average is $94.47 and its two-hundred day moving average is $102.18.

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 analysts’ consensus estimates of $0.25 by $0.10. The company had revenue of $347.42 million during the quarter, compared to analysts’ expectations of $344.67 million. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.35) earnings per share. Analysts predict that Elastic will post -0.92 earnings per share for the current year.

Insiders Place Their Bets

In other Elastic news, CEO Ashutosh Kulkarni sold 19,649 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 432,648 shares of the company’s stock, valued at approximately $30,393,522. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Paul R. Auvil III purchased 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $74.25 per share, with a total value of $1,485,000.00. Following the completion of the acquisition, the director now directly owns 22,627 shares of the company’s stock, valued at approximately $1,680,054.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ashutosh Kulkarni sold 19,649 shares of Elastic stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $1,380,342.25. Following the completion of the sale, the chief executive officer now directly owns 432,648 shares in the company, valued at approximately $30,393,522. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,406 shares of company stock valued at $2,627,772. Insiders own 18.10% of the company’s stock.

Elastic 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.