TimesSquare Capital Management LLC Sells 5,335 Shares of Elastic (NYSE:ESTC)

TimesSquare Capital Management LLC lowered its stake in Elastic (NYSE:ESTC) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 495,115 shares of the company’s stock after selling 5,335 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Elastic were worth $38,005,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Asset Dedication LLC boosted its stake in shares of Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after acquiring an additional 280 shares during the last quarter. AlphaCentric Advisors LLC purchased a new stake in shares of Elastic during the second quarter worth about $40,000. Quarry LP bought a new stake in shares of Elastic during the second quarter valued at approximately $40,000. Lynx Investment Advisory bought a new position in shares of Elastic during the 2nd quarter valued at about $43,000. Finally, Signaturefd LLC boosted its stake in Elastic by 44.1% during the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after buying an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ESTC shares. UBS Group reduced their price target on shares of Elastic from $135.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Barclays raised Elastic from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $90.00 to $95.00 in a research note on Monday, October 7th. Truist Financial lowered their price objective on shares of Elastic from $140.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Jefferies Financial Group decreased their price target on shares of Elastic from $140.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Finally, Scotiabank dropped their price objective on Elastic from $135.00 to $92.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.71.

Elastic Price Performance

Shares of ESTC opened at $86.95 on Friday. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06. The company has a 50 day moving average of $78.21 and a two-hundred day moving average of $97.97. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75. The company has a market cap of $8.93 billion, a price-to-earnings ratio of 158.09 and a beta of 0.94.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.10. The company had revenue of $347.42 million for the quarter, compared to analyst estimates of $344.67 million. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.35) EPS. As a group, analysts predict that Elastic will post -0.92 earnings per share for the current fiscal year.

Insider Activity at Elastic

In related news, CEO Ashutosh Kulkarni sold 19,649 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $1,380,342.25. Following the completion of the transaction, the chief executive officer now owns 432,648 shares in the company, valued at $30,393,522. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Ashutosh Kulkarni sold 19,649 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $1,380,342.25. Following the transaction, the chief executive officer now owns 432,648 shares in the company, valued at approximately $30,393,522. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul R. Auvil III purchased 20,000 shares of Elastic stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average cost of $74.25 per share, with a total value of $1,485,000.00. Following the completion of the transaction, the director now directly owns 22,627 shares in the company, valued at $1,680,054.75. The trade was a 700.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 37,406 shares of company stock valued at $2,627,772 in the last three months. 15.90% of the stock is owned by insiders.

Elastic Company 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.