Principal Financial Group Inc. Buys 334 Shares of Elastic (NYSE:ESTC)

Principal Financial Group Inc. increased its holdings in shares of Elastic (NYSE:ESTCFree Report) by 3.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,624 shares of the company’s stock after buying an additional 334 shares during the quarter. Principal Financial Group Inc.’s holdings in Elastic were worth $782,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ESTC. Comerica Bank bought a new position in Elastic during the 2nd quarter worth about $230,000. Quarry LP increased its holdings in Elastic by 79.6% during the 1st quarter. Quarry LP now owns 591 shares of the company’s stock worth $34,000 after purchasing an additional 262 shares in the last quarter. Activest Wealth Management bought a new position in Elastic during the 3rd quarter worth about $50,000. Steward Partners Investment Advisory LLC increased its holdings in Elastic by 50.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 707 shares of the company’s stock worth $36,000 after purchasing an additional 238 shares in the last quarter. Finally, Amundi increased its holdings in Elastic by 2,063.8% during the 4th quarter. Amundi now owns 1,017 shares of the company’s stock worth $53,000 after purchasing an additional 970 shares in the last quarter. Institutional investors and hedge funds own 74.66% of the company’s stock.

Wall Street Analyst Weigh In

ESTC has been the subject of a number of research reports. The Goldman Sachs Group increased their target price on Elastic from $83.00 to $93.00 and gave the stock a “neutral” rating in a report on Monday, December 4th. TheStreet upgraded Elastic from a “d+” rating to a “c-” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on Elastic from $87.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, December 1st. Oppenheimer raised their price objective on Elastic from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, December 1st. Finally, Wells Fargo & Company upgraded Elastic from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $90.00 to $108.00 in a report on Friday, December 1st. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.61.

View Our Latest Stock Analysis on Elastic

Insider Activity

In other news, Director Shelley B. Leibowitz sold 1,000 shares of Elastic stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $115.53, for a total value of $115,530.00. Following the completion of the sale, the director now directly owns 5,577 shares in the company, valued at $644,310.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Elastic news, Director Shelley B. Leibowitz sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $115.53, for a total transaction of $115,530.00. Following the completion of the transaction, the director now directly owns 5,577 shares in the company, valued at $644,310.81. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Shay Banon sold 89,995 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $116.10, for a total transaction of $10,448,419.50. Following the transaction, the chief technology officer now owns 4,520,036 shares of the company’s stock, valued at $524,776,179.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 128,867 shares of company stock worth $14,928,615. Corporate insiders own 18.10% of the company’s stock.

Elastic Trading Up 3.0 %

Shares of ESTC stock opened at $130.39 on Friday. The firm has a 50 day moving average price of $115.46 and a two-hundred day moving average price of $88.04. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $12.99 billion, a PE ratio of -65.52 and a beta of 0.95. Elastic has a 12-month low of $50.21 and a 12-month high of $131.71.

Elastic (NYSE:ESTCGet Free Report) last issued its quarterly earnings data on Thursday, November 30th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.13. Elastic had a negative net margin of 16.62% and a negative return on equity of 30.65%. The firm had revenue of $311.00 million during the quarter, compared to the consensus estimate of $304.44 million. During the same period last year, the business posted ($0.50) earnings per share. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, analysts predict that Elastic will post -1.17 earnings per share for the current year.

Elastic Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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