Belpointe Asset Management LLC Purchases 195 Shares of Elastic (NYSE:ESTC)

Belpointe Asset Management LLC boosted its position in shares of Elastic (NYSE:ESTC) by 13.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,608 shares of the company’s stock after purchasing an additional 195 shares during the quarter. Belpointe Asset Management LLC’s holdings in Elastic were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. HighPoint Advisor Group LLC boosted its position in Elastic by 1.9% during the 2nd quarter. HighPoint Advisor Group LLC now owns 6,152 shares of the company’s stock worth $897,000 after acquiring an additional 115 shares during the last quarter. Xponance Inc. raised its stake in Elastic by 2.0% in the 1st quarter. Xponance Inc. now owns 6,949 shares of the company’s stock valued at $773,000 after acquiring an additional 137 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Elastic by 9.2% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,084 shares of the company’s stock valued at $231,000 after acquiring an additional 176 shares during the period. Rockefeller Capital Management L.P. raised its stake in Elastic by 18.8% in the 1st quarter. Rockefeller Capital Management L.P. now owns 1,212 shares of the company’s stock valued at $134,000 after acquiring an additional 192 shares during the period. Finally, Arizona State Retirement System raised its stake in Elastic by 1.3% in the 1st quarter. Arizona State Retirement System now owns 17,684 shares of the company’s stock valued at $1,966,000 after acquiring an additional 223 shares during the period. 75.60% of the stock is owned by institutional investors.

ESTC has been the topic of a number of research analyst reports. Barclays increased their price target on Elastic from $180.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, August 26th. Oppenheimer increased their target price on Elastic from $170.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, August 26th. Jefferies Financial Group increased their target price on Elastic from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, July 13th. Bank of America began coverage on Elastic in a research note on Thursday, May 27th. They issued a “buy” rating and a $145.00 price objective on the stock. Finally, Rosenblatt Securities raised their price objective on Elastic from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, August 26th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $178.50.

In related news, Director Jonathan Chadwick sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, July 26th. The shares were sold at an average price of $148.18, for a total value of $926,125.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven Schuurman sold 500,000 shares of the company’s stock in a transaction on Wednesday, September 8th. The shares were sold at an average price of $165.35, for a total transaction of $82,675,000.00. The disclosure for this sale can be found here. Insiders have sold 514,698 shares of company stock worth $84,959,034 over the last quarter. 20.40% of the stock is owned by company insiders.

Shares of ESTC opened at $160.11 on Wednesday. The business’s fifty day simple moving average is $152.97 and its two-hundred day simple moving average is $134.14. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 1.24. Elastic has a 12 month low of $97.48 and a 12 month high of $176.49. The company has a market cap of $14.70 billion, a price-to-earnings ratio of -98.23 and a beta of 1.08.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Tuesday, August 24th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.14. The firm had revenue of $193.10 million for the quarter, compared to the consensus estimate of $173.21 million. Elastic had a negative return on equity of 26.26% and a negative net margin of 21.54%. The company’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same period last year, the business posted $0.06 EPS. As a group, research analysts forecast that Elastic will post -1.78 EPS for the current year.

Elastic Profile

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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