Acadian Asset Management LLC Makes New Investment in Elastic (NYSE:ESTC)

Acadian Asset Management LLC bought a new position in shares of Elastic (NYSE:ESTC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,504 shares of the company’s stock, valued at approximately $95,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ESTC. Vanguard Personalized Indexing Management LLC bought a new stake in Elastic during the second quarter worth about $214,000. XTX Topco Ltd acquired a new stake in shares of Elastic during the 1st quarter worth approximately $1,302,000. Ceera Investments LLC increased its stake in Elastic by 272.7% in the first quarter. Ceera Investments LLC now owns 18,260 shares of the company’s stock valued at $1,057,000 after acquiring an additional 13,360 shares during the last quarter. Bloom Tree Partners LLC acquired a new position in Elastic during the first quarter valued at approximately $18,684,000. Finally, Archford Capital Strategies LLC bought a new stake in Elastic during the second quarter worth $544,000. Institutional investors and hedge funds own 74.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ESTC. The Goldman Sachs Group lifted their price target on Elastic from $73.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, September 5th. Robert W. Baird boosted their target price on Elastic from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, September 29th. Jefferies Financial Group upgraded shares of Elastic from a “hold” rating to a “buy” rating and raised their price target for the company from $75.00 to $100.00 in a research note on Wednesday, October 18th. Wells Fargo & Company upped their price objective on shares of Elastic from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, September 1st. Finally, Needham & Company LLC began coverage on shares of Elastic in a research report on Thursday, October 12th. They issued a “hold” rating on the stock. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $81.06.

Elastic Price Performance

Shares of ESTC opened at $77.08 on Tuesday. The business has a 50-day moving average of $77.70 and a 200-day moving average of $69.80. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.85 and a quick ratio of 1.85. The company has a market capitalization of $7.59 billion, a price-to-earnings ratio of -34.41 and a beta of 0.88. Elastic has a 1 year low of $46.18 and a 1 year high of $84.04.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, August 31st. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.06. The firm had revenue of $293.75 million during the quarter, compared to analyst estimates of $284.65 million. Elastic had a negative net margin of 19.33% and a negative return on equity of 38.73%. As a group, equities research analysts anticipate that Elastic will post -1.3 earnings per share for the current year.

Insider Activity at Elastic

In other Elastic news, Director Jonathan Chadwick sold 25,000 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $81.38, for a total transaction of $2,034,500.00. Following the completion of the sale, the director now directly owns 7,729 shares in the company, valued at approximately $628,986.02. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Ashutosh Kulkarni sold 14,376 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $77.83, for a total transaction of $1,118,884.08. Following the transaction, the chief executive officer now directly owns 317,953 shares of the company’s stock, valued at $24,746,281.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan Chadwick sold 25,000 shares of Elastic stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $81.38, for a total transaction of $2,034,500.00. Following the completion of the sale, the director now directly owns 7,729 shares of the company’s stock, valued at $628,986.02. The disclosure for this sale can be found here. Insiders have sold a total of 72,470 shares of company stock worth $5,651,090 over the last quarter. Company 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.