Elastic (NYSE:ESTC) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its position in shares of Elastic (NYSE:ESTCGet Rating) by 2.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 7,148 shares of the company’s stock after selling 200 shares during the quarter. Truist Financial Corp’s holdings in Elastic were worth $513,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Elastic by 14.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,165 shares of the company’s stock valued at $1,162,000 after buying an additional 2,106 shares during the last quarter. Cavalry Management Group LLC purchased a new position in shares of Elastic in the 2nd quarter valued at about $16,393,000. Bailard Inc. increased its stake in shares of Elastic by 24.7% in the 3rd quarter. Bailard Inc. now owns 19,611 shares of the company’s stock valued at $1,407,000 after purchasing an additional 3,890 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Elastic by 8.0% in the 2nd quarter. Parallel Advisors LLC now owns 11,172 shares of the company’s stock valued at $756,000 after purchasing an additional 829 shares in the last quarter. Finally, Gratus Capital LLC increased its stake in shares of Elastic by 7.7% in the 2nd quarter. Gratus Capital LLC now owns 84,292 shares of the company’s stock valued at $5,704,000 after purchasing an additional 6,057 shares in the last quarter. Institutional investors and hedge funds own 78.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Wedbush assumed coverage on Elastic in a research note on Wednesday, December 14th. They issued a “neutral” rating and a $67.00 price target for the company. Rosenblatt Securities cut their price target on Elastic to $96.00 in a research note on Friday, December 2nd. Canaccord Genuity Group cut their price target on Elastic from $82.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, January 18th. Barclays cut their price target on Elastic from $77.00 to $62.00 and set an “overweight” rating for the company in a research note on Tuesday, January 10th. Finally, Truist Financial lowered their price objective on Elastic from $85.00 to $75.00 in a report on Monday, January 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.73.

Elastic Trading Up 4.0 %

Shares of Elastic stock opened at $57.31 on Tuesday. The stock has a market cap of $5.48 billion, a P/E ratio of -22.47 and a beta of 1.07. The stock’s 50 day simple moving average is $54.43 and its 200-day simple moving average is $67.46. Elastic has a 1-year low of $46.18 and a 1-year high of $98.75. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.91 and a quick ratio of 1.91.

Elastic (NYSE:ESTCGet Rating) last issued its earnings results on Wednesday, November 30th. The company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.10. The business had revenue of $264.40 million for the quarter, compared to analysts’ expectations of $261.25 million. Elastic had a negative return on equity of 53.77% and a negative net margin of 24.46%. Analysts predict that Elastic will post -1.91 EPS for the current fiscal year.

Insider Activity at Elastic

In related news, insider Carolyn Herzog sold 1,324 shares of the company’s stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $53.60, for a total value of $70,966.40. Following the transaction, the insider now directly owns 90,148 shares in the company, valued at $4,831,932.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Carolyn Herzog sold 1,324 shares of the company’s stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $53.60, for a total value of $70,966.40. Following the transaction, the insider now directly owns 90,148 shares in the company, valued at $4,831,932.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan Chadwick sold 6,250 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $65.26, for a total value of $407,875.00. Following the completion of the transaction, the director now owns 7,729 shares in the company, valued at $504,394.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,194 shares of company stock worth $994,473. Insiders own 18.80% of the company’s stock.

About Elastic

(Get Rating)

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.

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Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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