Eastern Bank Takes $61,000 Position in Elastic (NYSE:ESTC)

Eastern Bank bought a new stake in shares of Elastic (NYSE:ESTC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 800 shares of the company’s stock, valued at approximately $61,000.

Several other large investors have also recently modified their holdings of ESTC. Advisors Asset Management Inc. grew its position in 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 during the last quarter. Signaturefd LLC grew its position in Elastic by 44.1% in the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after acquiring an additional 119 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Elastic by 8.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,469 shares of the company’s stock valued at $278,000 after acquiring an additional 185 shares during the last quarter. Headlands Technologies LLC grew its position in Elastic by 75.4% in 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 during the last quarter. Finally, Asset Dedication LLC grew its position in 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 acquiring an additional 280 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Barclays raised Elastic from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $90.00 to $95.00 in a research report on Monday, October 7th. Needham & Company LLC reissued a “hold” rating on shares of Elastic in a research report on Tuesday, October 8th. Baird R W downgraded Elastic from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 30th. Canaccord Genuity Group dropped their price target on Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Finally, Wedbush raised Elastic to a “hold” rating in a research report on Thursday, October 17th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $103.71.

Insider Activity

In other news, CEO Ashutosh Kulkarni sold 19,649 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 432,648 shares of the company’s stock, valued at approximately $30,393,522. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Ashutosh Kulkarni sold 19,649 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 432,648 shares of the company’s stock, valued at approximately $30,393,522. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul R. Auvil III acquired 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $74.25 per share, for a total transaction 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. This trade represents a 700.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 37,406 shares of company stock valued at $2,627,772. Company insiders own 18.10% of the company’s stock.

Elastic Trading Up 1.2 %

Elastic stock opened at $79.35 on Friday. The stock has a 50-day moving average of $82.52 and a two-hundred day moving average of $99.01. 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 has a one year low of $69.00 and a one year high of $136.06. The stock has a market cap of $8.07 billion, a PE ratio of 149.72 and a beta of 0.94.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.35 EPS 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 was up 18.3% compared to the same quarter last year. During the same period last year, the business posted ($0.35) earnings per share. On average, research analysts anticipate that Elastic will post -0.91 EPS for the current fiscal 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.