Andar Capital Management HK Ltd Acquires Shares of 20,000 Elastic (NYSE:ESTC)

Andar Capital Management HK Ltd acquired a new stake in shares of Elastic (NYSE:ESTC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 20,000 shares of the company’s stock, valued at approximately $2,278,000. Elastic comprises about 3.2% of Andar Capital Management HK Ltd’s portfolio, making the stock its 13th biggest holding.

A number of other large investors have also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. boosted its stake in Elastic by 30.8% during the 1st quarter. Baillie Gifford & Co. now owns 10,156,726 shares of the company’s stock valued at $1,018,110,000 after acquiring an additional 2,392,356 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Elastic by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 8,613,723 shares of the company’s stock worth $863,440,000 after buying an additional 44,597 shares during the last quarter. Optimus Prime Fund Management Co. Ltd. lifted its position in shares of Elastic by 5.2% in the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 1,004,000 shares of the company’s stock worth $113,151,000 after buying an additional 50,000 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Elastic in the 2nd quarter worth about $102,169,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Elastic by 77.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 834,033 shares of the company’s stock worth $93,996,000 after buying an additional 364,418 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Carolyn Herzog sold 4,489 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were 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 in the company, valued at approximately $7,232,869.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Elastic news, CTO Shay Banon sold 2,666 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $187,286.50. Following the completion of the transaction, the chief technology officer now directly owns 4,543,190 shares in the company, valued at $319,159,097.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Carolyn Herzog sold 4,489 shares of the firm’s 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 owns 102,959 shares of the company’s stock, valued at $7,232,869.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 347,070 shares of company stock worth $36,234,852. Corporate insiders own 18.10% of the company’s stock.

Analyst Ratings Changes

ESTC has been the topic of a number of recent research reports. Needham & Company LLC restated a “hold” rating on shares of Elastic in a research report on Friday, August 30th. Guggenheim initiated coverage on shares of Elastic in a research report on Wednesday, September 11th. They issued a “buy” rating and a $100.00 price target on the stock. Scotiabank reduced their price target on shares of Elastic from $135.00 to $92.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 30th. Canaccord Genuity Group reduced their price target on shares of Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Finally, Bank of America cut shares of Elastic from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $140.00 to $94.00 in a report on Friday, August 30th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Elastic presently has a consensus rating of “Moderate Buy” and an average target price of $104.24.

Elastic Stock Performance

NYSE:ESTC opened at $75.17 on Wednesday. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75. The company has a 50-day moving average of $100.88 and a 200-day moving average of $103.91. The firm has a market cap of $7.65 billion, a price-to-earnings ratio of 141.83 and a beta of 0.95.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, beating 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 company had revenue of $347.42 million during the quarter, compared to analyst estimates of $344.67 million. During the same quarter last year, the firm posted ($0.35) EPS. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. Analysts forecast that Elastic will post -0.94 earnings per share for the current fiscal year.

Elastic 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.