Elastic N.V. $ESTC Position Decreased by Sylebra Capital LLC

Sylebra Capital LLC lessened its holdings in Elastic N.V. (NYSE:ESTC) by 9.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 2,552,554 shares of the company’s stock after selling 252,066 shares during the quarter. Elastic comprises approximately 11.5% of Sylebra Capital LLC’s holdings, making the stock its 3rd biggest position. Sylebra Capital LLC’s holdings in Elastic were worth $227,433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ESTC. Infinitum Asset Management LLC lifted its stake in Elastic by 42.9% in the first quarter. Infinitum Asset Management LLC now owns 100,000 shares of the company’s stock valued at $8,910,000 after purchasing an additional 30,000 shares during the last quarter. Scientech Research LLC purchased a new position in Elastic in the first quarter valued at approximately $879,000. Petrus Trust Company LTA lifted its stake in Elastic by 52.2% in the first quarter. Petrus Trust Company LTA now owns 9,658 shares of the company’s stock valued at $861,000 after purchasing an additional 3,312 shares during the last quarter. Kettle Hill Capital Management LLC purchased a new position in Elastic in the first quarter valued at approximately $2,252,000. Finally, Eventide Asset Management LLC lifted its stake in Elastic by 16.2% in the first quarter. Eventide Asset Management LLC now owns 12,077 shares of the company’s stock valued at $1,076,000 after purchasing an additional 1,686 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ESTC. DA Davidson began coverage on Elastic in a research note on Friday, August 29th. They issued a “neutral” rating and a $105.00 price objective on the stock. Robert W. Baird upped their price objective on Elastic from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Piper Sandler upped their price objective on Elastic from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, August 29th. Jefferies Financial Group upped their price objective on Elastic from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Finally, Royal Bank Of Canada upped their price objective on Elastic from $106.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $120.00.

Insider Buying and Selling at Elastic

In other news, CTO Shay Banon sold 5,117 shares of the company’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $444,718.47. Following the transaction, the chief technology officer owned 4,560,291 shares of the company’s stock, valued at approximately $396,334,890.81. This represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Carolyn Herzog sold 5,702 shares of the company’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $495,560.82. Following the completion of the transaction, the insider directly owned 93,985 shares in the company, valued at approximately $8,168,236.35. The trade was a 5.72% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,913 shares of company stock worth $4,416,324. Company insiders own 12.70% of the company’s stock.

Elastic Trading Up 2.3%

Shares of ESTC stock opened at $86.67 on Friday. The company’s fifty day simple moving average is $83.04 and its two-hundred day simple moving average is $86.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.09 and a quick ratio of 1.92. Elastic N.V. has a 1 year low of $69.00 and a 1 year high of $118.84. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of -108.34 and a beta of 1.04.

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.