Quantbot Technologies LP Buys Shares of 23,272 Elastic (NYSE:ESTC)

Quantbot Technologies LP acquired a new position in shares of Elastic (NYSE:ESTC) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 23,272 shares of the company’s stock, valued at approximately $1,786,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Asset Dedication LLC raised its holdings in shares of Elastic by 1,333.3% in the second 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 Elastic during the 2nd quarter worth about $40,000. Quarry LP acquired a new position in Elastic in the 2nd quarter valued at about $40,000. Lynx Investment Advisory purchased a new position in Elastic in the 2nd quarter valued at about $43,000. Finally, Signaturefd LLC boosted its stake in shares of Elastic by 44.1% during the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analysts Set New Price Targets

ESTC has been the topic of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of Elastic from $100.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Barclays raised their price objective on Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Guggenheim upped their target price on Elastic from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Citigroup increased their target price on Elastic from $136.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Robert W. Baird upgraded Elastic from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $95.00 to $135.00 in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $126.33.

Elastic Stock Performance

Elastic stock opened at $109.52 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.70. The stock has a 50 day moving average of $84.60 and a 200-day moving average of $97.18. The stock has a market cap of $11.35 billion, a P/E ratio of 199.13 and a beta of 0.94. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.10. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The firm had revenue of $347.42 million during the quarter, compared to analyst estimates of $344.67 million. During the same period in the previous year, the company earned ($0.35) earnings per share. Elastic’s quarterly revenue was up 18.3% on a year-over-year basis. On average, analysts expect that Elastic will post -0.79 EPS for the current fiscal year.

Insider Transactions at Elastic

In other news, Director Paul R. Auvil III purchased 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $74.25 per share, for a total transaction of $1,485,000.00. Following the completion of the purchase, the director now owns 22,627 shares of the company’s stock, valued at $1,680,054.75. This trade represents a 761.32 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Shay Banon sold 150,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total value of $16,638,000.00. Following the completion of the transaction, the chief technology officer now directly owns 2,604,978 shares of the company’s stock, valued at $288,944,159.76. This trade represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 198,551 shares of company stock worth $20,506,656. 15.90% of the stock is currently owned by insiders.

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.