Washington Harbour Partners LP Invests $1.44 Million in Elastic (NYSE:ESTC)

Washington Harbour Partners LP bought a new stake in Elastic (NYSE:ESTC) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 14,400 shares of the company’s stock, valued at approximately $1,443,000. Elastic comprises 2.3% of Washington Harbour Partners LP’s investment portfolio, making the stock its 16th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of ESTC. Baillie Gifford & Co. increased its holdings in shares of Elastic by 30.8% in the first quarter. Baillie Gifford & Co. now owns 10,156,726 shares of the company’s stock valued at $1,018,110,000 after purchasing an additional 2,392,356 shares during the last quarter. Vanguard Group Inc. grew its stake 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. Optimus Prime Fund Management Co. Ltd. raised its holdings in Elastic by 5.2% in the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 1,004,000 shares of the company’s stock valued at $113,151,000 after acquiring an additional 50,000 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Elastic by 77.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 834,033 shares of the company’s stock worth $93,996,000 after acquiring an additional 364,418 shares during the period. Finally, Norges Bank bought a new stake in shares of Elastic during the fourth quarter worth approximately $92,847,000. Institutional investors own 97.03% of the company’s stock.

Elastic Trading Down 2.1 %

NYSE:ESTC traded down $2.33 on Thursday, reaching $107.34. 987,611 shares of the stock traded hands, compared to its average volume of 1,289,682. The firm has a market capitalization of $10.92 billion, a price-to-earnings ratio of 203.42 and a beta of 0.98. Elastic has a 1-year low of $57.38 and a 1-year high of $136.06. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. The company’s 50 day moving average is $111.21 and its 200-day moving average is $110.97.

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 net margin of 4.87% and a negative return on equity of 20.83%. The business had revenue of $335.00 million for the quarter, compared to the consensus estimate of $329.15 million. Equities research analysts anticipate that Elastic will post -1.12 EPS for the current fiscal year.

Insider Activity

In other news, CEO Ashutosh Kulkarni sold 18,819 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $109.90, for a total value of $2,068,208.10. Following the completion of the sale, the chief executive officer now directly owns 461,961 shares in the company, valued at approximately $50,769,513.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Elastic news, CRO Mark Eugene Dodds sold 2,281 shares of the company’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 $250,681.90. Following the transaction, the executive now owns 106,344 shares in the company, valued at $11,687,205.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ashutosh Kulkarni sold 18,819 shares of the firm’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 $2,068,208.10. Following the completion of the transaction, the chief executive officer now directly owns 461,961 shares in the company, valued at $50,769,513.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 355,312 shares of company stock worth $38,626,610. Company insiders own 18.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a report on Friday, May 31st. Robert W. Baird decreased their price target on shares of Elastic from $137.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. JPMorgan Chase & Co. cut their price objective on shares of Elastic from $138.00 to $125.00 and set an “overweight” rating for the company in a report on Friday, May 24th. Canaccord Genuity Group lowered their target price on shares of Elastic from $130.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Finally, Bank of America dropped their price target 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. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Elastic has an average 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.