Quantbot Technologies LP Buys Shares of 23,272 Elastic (NYSE:ESTC)

Quantbot Technologies LP purchased a new position in shares of Elastic (NYSE:ESTC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 23,272 shares of the company’s stock, valued at approximately $1,786,000.

A number of other institutional investors have also modified their holdings of the company. Asset Dedication LLC increased its stake in Elastic by 1,333.3% during 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 purchased a new stake in shares of Elastic during the second quarter worth $40,000. Quarry LP acquired a new stake in shares of Elastic in the second quarter valued at $40,000. Lynx Investment Advisory purchased a new position in Elastic in the second quarter valued at $43,000. Finally, Signaturefd LLC boosted its holdings in Elastic by 44.1% in the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after purchasing an additional 119 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ESTC. Wells Fargo & Company increased their price target on Elastic from $100.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Bank of America lifted their price target on shares of Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $120.00 price objective on shares of Elastic in a research report on Wednesday, November 20th. DA Davidson raised their price objective on shares of Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, The Goldman Sachs Group increased their target price on Elastic from $99.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Elastic presently has an average rating of “Moderate Buy” and a consensus target price of $126.33.

Elastic Stock Down 0.6 %

ESTC stock opened at $109.52 on Friday. The company has a market cap of $11.35 billion, a price-to-earnings ratio of 199.13 and a beta of 0.94. The company has a fifty day moving average price of $84.60 and a 200 day moving average price of $97.18. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.91. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, August 29th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.10. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The business had revenue of $347.42 million during the quarter, compared to analysts’ expectations of $344.67 million. During the same period in the prior year, the company earned ($0.35) earnings per share. The business’s revenue was up 18.3% compared to the same quarter last year. Sell-side analysts expect that Elastic will post -0.79 earnings per share for the current year.

Insider Activity at Elastic

In related news, CTO Shay Banon sold 2,666 shares of Elastic stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $187,286.50. Following the sale, the chief technology officer now directly owns 4,543,190 shares in the company, valued at $319,159,097.50. The trade was a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul R. Auvil III acquired 20,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $74.25 per share, with a total value of $1,485,000.00. Following the transaction, the director now directly owns 22,627 shares of the company’s stock, valued at $1,680,054.75. This represents a 761.32 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 198,551 shares of company stock worth $20,506,656 in the last quarter. Company insiders own 15.90% of the company’s stock.

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.