Fiera Capital Corp Acquires Shares of 203,530 Elastic (NYSE:ESTC)

Fiera Capital Corp bought a new position in shares of Elastic (NYSE:ESTC) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 203,530 shares of the company’s stock, valued at approximately $15,623,000. Fiera Capital Corp owned 0.20% of Elastic as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Asset Dedication LLC boosted its holdings in Elastic by 1,333.3% in the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after buying an additional 280 shares during the period. AlphaCentric Advisors LLC bought a new position in shares of Elastic in the second quarter worth $40,000. Quarry LP bought a new stake in shares of Elastic during the 2nd quarter valued at $40,000. Lynx Investment Advisory bought a new stake in shares of Elastic during the 2nd quarter valued at $43,000. Finally, Signaturefd LLC lifted its holdings in Elastic by 44.1% during the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after purchasing an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Insider Transactions at Elastic

In other Elastic news, insider Carolyn Herzog sold 4,489 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $315,352.25. Following the completion of the transaction, the insider now owns 102,959 shares of the company’s stock, valued at $7,232,869.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Paul R. Auvil III purchased 20,000 shares of Elastic stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $74.25 per share, for a total transaction of $1,485,000.00. Following the completion of the transaction, the director now directly owns 22,627 shares of the company’s stock, valued at $1,680,054.75. This represents a 700.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Carolyn Herzog sold 4,489 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $315,352.25. Following the completion of the transaction, the insider now directly owns 102,959 shares of the company’s stock, valued at approximately $7,232,869.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,406 shares of company stock worth $2,627,772. Company insiders own 15.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ESTC. UBS Group cut their price objective on shares of Elastic from $135.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Guggenheim initiated coverage on shares of Elastic in a report on Wednesday, September 11th. They issued a “buy” rating and a $100.00 price target on the stock. Piper Sandler dropped their price objective on Elastic from $131.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. DA Davidson decreased their target price on Elastic from $100.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, August 30th. Finally, Royal Bank of Canada dropped their price target on Elastic from $135.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.71.

Elastic Price Performance

ESTC opened at $86.94 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. The stock’s 50 day simple moving average is $78.21 and its 200 day simple moving average is $98.00. The firm has a market cap of $8.93 billion, a price-to-earnings ratio of 158.07 and a beta of 0.94. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.10. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The firm had revenue of $347.42 million for the quarter, compared to analysts’ expectations of $344.67 million. During the same quarter last year, the business earned ($0.35) earnings per share. The business’s revenue was up 18.3% on a year-over-year basis. As a group, analysts predict that Elastic will post -0.92 earnings per share for the current year.

About Elastic

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.