Baader Bank Aktiengesellschaft Reduces Stock Holdings in Elastic (NYSE:ESTC)

Baader Bank Aktiengesellschaft reduced its stake in shares of Elastic (NYSE:ESTC) by 50.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,000 shares of the company’s stock after selling 7,000 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Elastic were worth $797,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ESTC. Rakuten Securities Inc. purchased a new stake in Elastic during the 4th quarter worth approximately $25,000. GAMMA Investing LLC purchased a new stake in Elastic during the 4th quarter worth approximately $39,000. Lynx Investment Advisory purchased a new stake in Elastic during the 2nd quarter worth approximately $43,000. Cypress Capital Management LLC WY purchased a new stake in Elastic during the 4th quarter worth approximately $45,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Elastic during the 1st quarter worth approximately $64,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Elastic news, CRO Mark Eugene Dodds sold 3,457 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $110.78, for a total transaction of $382,966.46. Following the completion of the transaction, the executive now owns 82,498 shares in the company, valued at approximately $9,139,128.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO Shay Banon sold 120,000 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $109.48, for a total value of $13,137,600.00. Following the sale, the chief technology officer now owns 2,754,978 shares of the company’s stock, valued at approximately $301,614,991.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Mark Eugene Dodds sold 3,457 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $110.78, for a total value of $382,966.46. Following the completion of the sale, the executive now directly owns 82,498 shares in the company, valued at approximately $9,139,128.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 355,312 shares of company stock worth $38,626,610. 18.10% of the stock is owned by company insiders.

Elastic Stock Performance

NYSE:ESTC traded up $3.26 during midday trading on Thursday, reaching $108.83. 791,652 shares of the company traded hands, compared to its average volume of 1,259,957. Elastic has a twelve month low of $57.38 and a twelve month high of $136.06. The firm has a market capitalization of $11.07 billion, a price-to-earnings ratio of 199.26 and a beta of 0.98. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.76 and a quick ratio of 1.76. The company has a fifty day moving average price of $111.40 and a 200 day moving average price of $109.95.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, May 30th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $329.15 million. On average, analysts expect that Elastic will post -1.12 EPS for the current fiscal year.

Analyst Ratings Changes

ESTC has been the topic of several analyst reports. Needham & Company LLC restated a “hold” rating on shares of Elastic in a report on Friday, May 31st. Scotiabank dropped their price objective on Elastic from $154.00 to $135.00 and set a “sector outperform” rating on the stock in a report on Friday, May 31st. Stifel Nicolaus decreased their target price on Elastic from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Canaccord Genuity Group decreased their target price on Elastic from $130.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Finally, Barclays decreased their target price on Elastic from $128.00 to $117.00 and set an “equal weight” rating for the company in a research report on Friday, May 31st. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Elastic presently 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.