Cwm LLC Has $2.95 Million Holdings in Elastic (NYSE:ESTC)

Cwm LLC boosted its stake in shares of Elastic (NYSE:ESTC) by 16.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,929 shares of the company’s stock after purchasing an additional 3,671 shares during the quarter. Cwm LLC’s holdings in Elastic were worth $2,954,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ESTC. Nordea Investment Management AB bought a new stake in shares of Elastic in the 1st quarter worth about $3,104,000. International Assets Investment Management LLC bought a new stake in shares of Elastic in the 4th quarter worth about $25,660,000. Toronto Dominion Bank bought a new stake in shares of Elastic in the 1st quarter worth about $5,780,000. Quantbot Technologies LP grew its holdings in shares of Elastic by 165.2% in the 1st quarter. Quantbot Technologies LP now owns 12,921 shares of the company’s stock worth $1,295,000 after purchasing an additional 8,048 shares during the last quarter. Finally, CenterBook Partners LP grew its holdings in shares of Elastic by 13.1% in the 4th quarter. CenterBook Partners LP now owns 27,985 shares of the company’s stock worth $3,154,000 after purchasing an additional 3,245 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Ashutosh Kulkarni sold 9,664 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $109.88, for a total transaction of $1,061,880.32. Following the transaction, the chief executive officer now directly owns 452,297 shares of the company’s stock, valued at $49,698,394.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Elastic news, CTO Shay Banon sold 180,000 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $107.82, for a total value of $19,407,600.00. Following the transaction, the chief technology officer now owns 2,874,978 shares of the company’s stock, valued at $309,980,127.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ashutosh Kulkarni sold 9,664 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $109.88, for a total value of $1,061,880.32. Following the completion of the transaction, the chief executive officer now directly owns 452,297 shares in the company, valued at approximately $49,698,394.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 355,312 shares of company stock valued at $38,626,610. 18.10% of the stock is currently owned by corporate insiders.

Elastic Trading Up 2.4 %

ESTC stock traded up $2.38 during midday trading on Thursday, hitting $103.49. The company had a trading volume of 219,106 shares, compared to its average volume of 1,273,016. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. Elastic has a 52 week low of $57.38 and a 52 week high of $136.06. The stock has a market cap of $10.53 billion, a price-to-earnings ratio of 195.38 and a beta of 0.98. The stock’s 50 day moving average price is $111.09 and its 200 day moving average price is $110.47.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, May 30th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.03). The firm had revenue of $335.00 million during the quarter, compared to analysts’ expectations of $329.15 million. Elastic had a negative return on equity of 20.83% and a net margin of 4.87%. As a group, equities research analysts expect that Elastic will post -1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on ESTC. Robert W. Baird lowered their target price on shares of Elastic from $137.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th. UBS Group began coverage on shares of Elastic in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $135.00 target price on the stock. JPMorgan Chase & Co. cut their price target on shares of Elastic from $138.00 to $125.00 and set an “overweight” rating on the stock in a research report on Friday, May 24th. Stifel Nicolaus cut their price target on shares of Elastic from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Finally, Canaccord Genuity Group dropped their target price on shares of Elastic from $130.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $118.05.

Elastic Company Profile

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.