Avitas Wealth Management LLC Makes New $212,000 Investment in Elastic (NYSE:ESTC)

Avitas Wealth Management LLC acquired a new position in shares of Elastic (NYSE:ESTC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,860 shares of the company’s stock, valued at approximately $212,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. boosted its holdings in shares of Elastic by 30.8% in the 1st quarter. Baillie Gifford & Co. now owns 10,156,726 shares of the company’s stock valued at $1,018,110,000 after buying an additional 2,392,356 shares during the period. Vanguard Group Inc. lifted 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 purchasing an additional 44,597 shares during the last quarter. Optimus Prime Fund Management Co. Ltd. lifted its position 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 purchasing an additional 50,000 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Elastic in the 2nd quarter valued at about $102,169,000. Finally, Goldman Sachs Group Inc. lifted its position in Elastic by 77.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 834,033 shares of the company’s stock valued at $93,996,000 after purchasing an additional 364,418 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Elastic Trading Up 0.1 %

Shares of Elastic stock traded up $0.09 during trading on Friday, hitting $105.66. The stock had a trading volume of 1,131,038 shares, compared to its average volume of 1,240,797. The stock has a 50 day simple moving average of $110.79 and a 200 day simple moving average of $109.41. The company has a market capitalization of $10.75 billion, a PE ratio of 199.43 and a beta of 0.98. 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 has a 1 year low of $57.38 and a 1 year high of $136.06.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ESTC. Barclays cut their price objective on shares of Elastic from $128.00 to $117.00 and set an “equal weight” rating on the stock in a research report on Friday, May 31st. Robert W. Baird cut their price objective on shares of Elastic from $137.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. Canaccord Genuity Group cut their price objective on shares of Elastic from $130.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Needham & Company LLC restated a “hold” rating on shares of Elastic in a research 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 on the stock in a research report on Friday, May 31st. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $120.84.

Insider Activity at Elastic

In related news, CEO Ashutosh Kulkarni sold 18,819 shares of the business’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 transaction of $2,068,208.10. Following the transaction, the chief executive officer now directly owns 461,961 shares of the company’s stock, valued at $50,769,513.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Elastic news, CEO Ashutosh Kulkarni sold 18,819 shares of Elastic 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 $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 $50,769,513.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Mark Eugene Dodds sold 3,457 shares of Elastic stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $110.78, for a total transaction of $382,966.46. Following the completion of the sale, the executive now owns 82,498 shares of the company’s stock, valued at $9,139,128.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 355,312 shares of company stock valued at $38,626,610. Corporate insiders own 18.10% of the company’s stock.

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.