Massachusetts Financial Services Co. MA Has $3.27 Million Stock Position in Elastic (NYSE:ESTC)

Massachusetts Financial Services Co. MA decreased its holdings in shares of Elastic (NYSE:ESTC) by 23.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,553 shares of the company’s stock after selling 13,270 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Elastic were worth $3,266,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fifth Third Wealth Advisors LLC acquired a new position in shares of Elastic during the 3rd quarter worth $1,262,000. WD Rutherford LLC acquired a new position in shares of Elastic during the 2nd quarter worth $422,000. Assenagon Asset Management S.A. acquired a new position in shares of Elastic during the 2nd quarter worth $102,169,000. Daventry Group LP increased its stake in shares of Elastic by 8.6% during the 2nd quarter. Daventry Group LP now owns 316,975 shares of the company’s stock worth $36,107,000 after purchasing an additional 25,008 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Elastic during the 1st quarter worth $1,823,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insider Buying and Selling at Elastic

In other news, 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 transaction of $1,380,342.25. Following the completion of the sale, the chief executive officer now owns 432,648 shares in the company, valued at $30,393,522. The trade was a 4.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul R. Auvil III purchased 20,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $74.25 per share, with a total value of $1,485,000.00. Following the transaction, the director now owns 22,627 shares in the company, valued at $1,680,054.75. This trade represents a 761.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 37,406 shares of company stock worth $2,627,772. 15.90% of the stock is currently owned by corporate insiders.

Elastic Trading Up 0.1 %

Shares of Elastic stock opened at $111.54 on Wednesday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $11.46 billion, a P/E ratio of 202.80 and a beta of 0.94. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The company has a 50-day simple moving average of $82.49 and a 200 day simple moving average of $96.96.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.10. The firm had revenue of $347.42 million during the quarter, compared to analysts’ expectations of $344.67 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.54%. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.35) EPS. Research analysts expect that Elastic will post -0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ESTC. William Blair raised shares of Elastic from a “market perform” rating to an “outperform” rating in a report on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a report on Friday, November 22nd. Robert W. Baird raised shares of Elastic from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $95.00 to $135.00 in a report on Friday, November 22nd. Baird R W raised shares of Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Wells Fargo & Company upped their price objective on shares of Elastic from $100.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Elastic presently has a consensus rating of “Moderate Buy” and an average target price of $126.33.

About Elastic

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.