Oppenheimer & Co. Inc. Buys 219 Shares of Elastic (NYSE:ESTC)

Oppenheimer & Co. Inc. raised its stake in shares of Elastic (NYSE:ESTC) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,810 shares of the company’s stock after purchasing an additional 219 shares during the period. Oppenheimer & Co. Inc.’s holdings in Elastic were worth $523,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Asset Dedication LLC grew its stake in shares of Elastic by 1,333.3% in the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after buying an additional 280 shares during the period. AlphaCentric Advisors LLC acquired a new position in Elastic during the 2nd quarter valued at about $40,000. Quarry LP acquired a new position in Elastic during the 2nd quarter valued at about $40,000. Lynx Investment Advisory acquired a new position in Elastic during the 2nd quarter valued at about $43,000. Finally, Signaturefd LLC boosted its stake in Elastic by 44.1% during the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after purchasing an additional 119 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on ESTC. UBS Group dropped their target price on shares of Elastic from $135.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Scotiabank lowered their price target on shares of Elastic from $135.00 to $92.00 and set a “sector outperform” rating on the stock in a report on Friday, August 30th. Guggenheim started coverage on shares of Elastic in a report on Wednesday, September 11th. They issued a “buy” rating and a $100.00 price target on the stock. Royal Bank of Canada lowered their price target on shares of Elastic from $135.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, August 30th. Finally, Bank of America cut shares of Elastic from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $140.00 to $94.00 in a report on Friday, August 30th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.43.

Insider Buying and Selling

In other Elastic news, CEO Ashutosh Kulkarni sold 19,649 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was 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 owns 432,648 shares of the company’s stock, valued at approximately $30,393,522. This trade represents a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Shay Banon sold 2,666 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were 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. This trade represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,406 shares of company stock valued at $2,627,772 over the last three months. 15.90% of the stock is currently owned by company insiders.

Elastic Stock Up 0.2 %

Shares of NYSE:ESTC opened at $88.49 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. The firm has a market capitalization of $9.09 billion, a PE ratio of 160.89 and a beta of 0.94. The firm’s 50-day moving average is $80.71 and its two-hundred day moving average is $97.05. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.35 EPS 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 4.62% and a negative return on equity of 17.54%. The firm’s revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.35) earnings per share. Analysts predict that Elastic will post -0.92 EPS for the current year.

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.