Wipfli Financial Advisors LLC Acquires New Stake in Elastic (NYSE:ESTC)

Wipfli Financial Advisors LLC acquired a new stake in shares of Elastic (NYSE:ESTC – Get Rating) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 662 shares of the company’s stock, valued at approximately $47,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. bought a new stake in shares of Elastic in the 2nd quarter worth $63,798,000. JPMorgan Chase & Co. increased its holdings in shares of Elastic by 37.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,077,284 shares of the company’s stock worth $208,240,000 after purchasing an additional 843,403 shares in the last quarter. Sachem Head Capital Management LP bought a new stake in shares of Elastic in the 2nd quarter worth $50,252,000. Woodline Partners LP bought a new stake in shares of Elastic in the 2nd quarter worth $38,901,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Elastic in the 2nd quarter worth $30,337,000. Institutional investors own 78.40% of the company’s stock.

Insider Buying and Selling at Elastic

In other Elastic news, insider Carolyn Herzog sold 1,324 shares of the stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $53.60, for a total transaction of $70,966.40. Following the completion of the sale, the insider now directly owns 90,148 shares of the company’s stock, valued at approximately $4,831,932.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Elastic news, CTO Shay Banon sold 2,026 shares of the stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $53.60, for a total transaction of $108,593.60. Following the completion of the sale, the chief technology officer now directly owns 8,245,848 shares of the company’s stock, valued at approximately $441,977,452.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Carolyn Herzog sold 1,324 shares of the firm’s stock in a transaction on Friday, December 9th. The shares were sold at an average price of $53.60, for a total transaction of $70,966.40. Following the completion of the transaction, the insider now directly owns 90,148 shares of the company’s stock, valued at $4,831,932.80. The disclosure for this sale can be found here. Insiders sold a total of 17,194 shares of company stock valued at $994,473 in the last three months. 18.80% of the stock is currently owned by corporate insiders.

Elastic Price Performance

NYSE ESTC opened at $51.21 on Tuesday. Elastic has a 12 month low of $46.18 and a 12 month high of $100.39. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of -20.08 and a beta of 1.07. The company’s 50 day moving average is $55.20 and its two-hundred day moving average is $68.20. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.45.

Elastic (NYSE:ESTC – Get Rating) last released its earnings results on Wednesday, November 30th. The company reported ($0.50) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.10. Elastic had a negative net margin of 24.46% and a negative return on equity of 53.77%. The company had revenue of $264.40 million for the quarter, compared to analysts’ expectations of $261.25 million. As a group, research analysts anticipate that Elastic will post -1.91 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on ESTC shares. Truist Financial cut their price objective on Elastic from $85.00 to $75.00 in a report on Monday, January 9th. Wedbush initiated coverage on shares of Elastic in a research report on Wednesday, December 14th. They set a “neutral” rating and a $67.00 price target for the company. Barclays lowered their price objective on shares of Elastic from $77.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 10th. Piper Sandler lowered their price objective on shares of Elastic from $70.00 to $62.00 in a research note on Thursday, January 5th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $100.00 price objective on shares of Elastic in a research note on Wednesday, October 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Elastic currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.73.

Elastic Profile

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Elastic NV engages in the provision of open-source search and analytics engine services. It offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as perform search, analysis, and visualization. The firms Elastic Stack product comprises Elasticsearch, a distributed, real-time search and analytics engine, and data store for various types of data, including textual, numerical, geospatial, structured, and unstructured, Kibana, a user interface, management, and configuration interface for the Elastic Stack, Beats, a single-purpose data shippers for sending data from edge machines to Elasticsearch or Logstash, and Logstash, a data processing pipeline for ingesting data into Elasticsearch or other storage systems.