Quadrature Capital Ltd Sells 83,536 Shares of Elastic (NYSE:ESTC)

Quadrature Capital Ltd cut its holdings in shares of Elastic (NYSE:ESTC) by 81.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,995 shares of the company’s stock after selling 83,536 shares during the period. Quadrature Capital Ltd’s holdings in Elastic were worth $1,903,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Toronto Dominion Bank acquired a new position in Elastic in the first quarter valued at about $5,780,000. Anson Funds Management LP acquired a new stake in shares of Elastic during the first quarter worth $1,062,000. Advisors Asset Management Inc. lifted its holdings in shares of Elastic by 12.7% in the first quarter. Advisors Asset Management Inc. now owns 1,053 shares of the company’s stock valued at $106,000 after purchasing an additional 119 shares in the last quarter. Vanguard Group Inc. raised its position in Elastic by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 8,613,723 shares of the company’s stock valued at $863,440,000 after buying an additional 44,597 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in Elastic by 0.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 86,920 shares of the company’s stock worth $8,713,000 after acquiring an additional 678 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Insider Buying and Selling

In other Elastic news, CFO Janesh Moorjani sold 10,011 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $109.90, for a total value of $1,100,208.90. Following the transaction, the chief financial officer now owns 202,491 shares of the company’s stock, valued at $22,253,760.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Elastic news, CRO Mark Eugene Dodds sold 3,457 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $110.78, for a total transaction of $382,966.46. Following the sale, the executive now directly owns 82,498 shares of the company’s stock, valued at approximately $9,139,128.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Janesh Moorjani sold 10,011 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $109.90, for a total transaction of $1,100,208.90. Following the completion of the transaction, the chief financial officer now owns 202,491 shares of the company’s stock, valued at $22,253,760.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 355,312 shares of company stock worth $38,626,610. 18.10% of the stock is owned by insiders.

Elastic Stock Down 0.8 %

Shares of ESTC traded down $0.96 during trading hours on Friday, hitting $112.67. The company had a trading volume of 571,471 shares, compared to its average volume of 1,022,958. Elastic has a 52-week low of $57.38 and a 52-week high of $136.06. The firm has a fifty day moving average price of $111.20 and a 200-day moving average price of $111.00. The stock has a market capitalization of $11.46 billion, a price-to-earnings ratio of 212.58 and a beta of 0.98. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 1.76.

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

Wall Street Analyst Weigh In

ESTC has been the subject of a number of analyst reports. Bank of America decreased their target price on shares of Elastic from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Canaccord Genuity Group cut their price target on shares of Elastic from $130.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Robert W. Baird dropped their target price on shares of Elastic from $137.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th. UBS Group began coverage on Elastic in a report on Wednesday, May 22nd. They set a “buy” rating and a $135.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their target price on Elastic from $138.00 to $125.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $118.05.

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.