Clay Northam Wealth Management LLC Has $510,000 Holdings in Elastic (NYSE:ESTC)

Clay Northam Wealth Management LLC cut its holdings in shares of Elastic (NYSE:ESTC) by 7.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,480 shares of the company’s stock after selling 350 shares during the period. Clay Northam Wealth Management LLC’s holdings in Elastic were worth $510,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ESTC. Rakuten Securities Inc. acquired a new stake in shares of Elastic in the fourth quarter valued at $25,000. GAMMA Investing LLC acquired a new stake in Elastic in the 4th quarter valued at about $39,000. Lynx Investment Advisory bought a new position in shares of Elastic in the second quarter worth about $43,000. Cypress Capital Management LLC WY acquired a new position in shares of Elastic during the fourth quarter worth approximately $45,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Elastic during the first quarter valued at approximately $64,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Elastic Stock Performance

ESTC traded up $0.02 during trading hours on Friday, reaching $108.81. The company’s stock had a trading volume of 478,397 shares, compared to its average volume of 1,255,010. The company’s 50-day moving average is $111.25 and its 200-day moving average is $109.71. Elastic has a 52 week low of $57.38 and a 52 week high of $136.06. The firm has a market cap of $11.07 billion, a PE ratio of 205.30 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) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.03). The company had revenue of $335.00 million during the quarter, compared to analyst estimates of $329.15 million. Elastic had a net margin of 4.87% and a negative return on equity of 20.83%. On average, equities analysts forecast that Elastic will post -1.12 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on ESTC. UBS Group started coverage on Elastic in a report on Wednesday, May 22nd. They set a “buy” rating and a $135.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a research report on Friday, May 31st. Scotiabank dropped their price objective on shares of Elastic from $154.00 to $135.00 and set a “sector outperform” rating on the stock in a report on Friday, May 31st. Citigroup lifted their target price on Elastic from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Finally, Bank of America cut their price target on shares of Elastic from $150.00 to $140.00 and set a “buy” rating on the stock 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.05.

Insider Buying and Selling at Elastic

In other news, CTO Shay Banon sold 120,000 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $109.48, for a total transaction of $13,137,600.00. Following the transaction, the chief technology officer now owns 2,754,978 shares in the company, valued at $301,614,991.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Elastic news, CEO Ashutosh Kulkarni sold 18,819 shares of Elastic stock in a transaction dated Monday, June 10th. The shares were 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 owns 461,961 shares in the company, valued at approximately $50,769,513.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Shay Banon sold 120,000 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $109.48, for a total transaction of $13,137,600.00. Following the transaction, the chief technology officer now owns 2,754,978 shares in the company, valued at approximately $301,614,991.44. The disclosure for this sale can be found here. Insiders have sold a total of 355,312 shares of company stock valued at $38,626,610 in the last three months. 18.10% of the stock is currently owned by company insiders.

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.