Blue Zone Wealth Advisors LLC Has $2.76 Million Stock Holdings in Elastic (NYSE:ESTC)

Blue Zone Wealth Advisors LLC boosted its holdings in shares of Elastic (NYSE:ESTC) by 4.6% in the first quarter, Holdings Channel.com reports. The fund owned 27,488 shares of the company’s stock after buying an additional 1,220 shares during the quarter. Blue Zone Wealth Advisors LLC’s holdings in Elastic were worth $2,755,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in shares of Elastic by 6.6% during the third quarter. PNC Financial Services Group Inc. now owns 2,284 shares of the company’s stock worth $186,000 after purchasing an additional 142 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of Elastic by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 34,154 shares of the company’s stock worth $2,775,000 after purchasing an additional 170 shares in the last quarter. Rakuten Securities Inc. bought a new position in shares of Elastic during the fourth quarter worth $25,000. CWM LLC boosted its position in shares of Elastic by 5.9% during the fourth quarter. CWM LLC now owns 4,924 shares of the company’s stock worth $555,000 after purchasing an additional 276 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Elastic by 168.3% during the third quarter. Covestor Ltd now owns 448 shares of the company’s stock worth $36,000 after purchasing an additional 281 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insider Transactions at Elastic

In related news, CTO Shay Banon sold 180,000 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $107.82, for a total transaction of $19,407,600.00. Following the sale, the chief technology officer now owns 2,874,978 shares in the company, valued at approximately $309,980,127.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Elastic news, CFO Janesh Moorjani sold 10,011 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $109.90, for a total value of $1,100,208.90. Following the sale, the chief financial officer now owns 202,491 shares in the company, valued at $22,253,760.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Shay Banon sold 180,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $107.82, for a total transaction of $19,407,600.00. Following the completion of the sale, the chief technology officer now owns 2,874,978 shares in the company, valued at approximately $309,980,127.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 355,312 shares of company stock valued at $38,626,610. 18.10% of the stock is currently owned by company insiders.

Elastic Stock Performance

Shares of ESTC traded down $0.85 during mid-day trading on Friday, hitting $113.91. 1,338,158 shares of the company’s stock were exchanged, compared to its average volume of 1,413,764. Elastic has a 52 week low of $57.38 and a 52 week high of $136.06. The stock’s 50-day simple moving average is $107.44 and its 200-day simple moving average is $110.38. The firm has a market cap of $11.59 billion, a price-to-earnings ratio of 214.92 and a beta of 0.92. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.77.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, May 30th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.03). Elastic had a negative return on equity of 20.83% and a net margin of 4.87%. The business had revenue of $335.00 million for the quarter, compared to the consensus estimate of $329.15 million. On average, equities research analysts expect that Elastic will post -1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

ESTC has been the topic of several research reports. Citigroup boosted their price objective on shares of Elastic from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Scotiabank cut their price objective on shares of Elastic from $154.00 to $135.00 and set a “sector outperform” rating on the stock in a research report on Friday, May 31st. Bank of America lowered their price target on shares of Elastic from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Stifel Nicolaus lowered their price target on shares of Elastic from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Finally, JPMorgan Chase & Co. lowered their price target on shares of Elastic from $138.00 to $125.00 and set an “overweight” rating on the stock in a research note on Friday, May 24th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Elastic has an average rating of “Moderate Buy” and an average price target of $118.05.

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.