Xn LP Decreases Stake in Elastic (NYSE:ESTC)

Xn LP lowered its position in shares of Elastic (NYSE:ESTC) by 5.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,500 shares of the company’s stock after selling 2,505 shares during the quarter. Elastic accounts for approximately 0.2% of Xn LP’s investment portfolio, making the stock its 22nd biggest holding. Xn LP’s holdings in Elastic were worth $4,955,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC lifted its holdings in Elastic by 20.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,710 shares of the company’s stock worth $764,000 after acquiring an additional 1,123 shares during the period. Andar Capital Management HK Ltd bought a new stake in shares of Elastic during the 2nd quarter worth $2,278,000. Dimensional Fund Advisors LP boosted its holdings in shares of Elastic by 16.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 216,287 shares of the company’s stock worth $24,640,000 after buying an additional 30,810 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Elastic by 4.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 55,823 shares of the company’s stock valued at $6,359,000 after buying an additional 2,586 shares during the period. Finally, Federated Hermes Inc. increased its holdings in Elastic by 32,630.2% during the second quarter. Federated Hermes Inc. now owns 615,655 shares of the company’s stock worth $70,129,000 after buying an additional 613,774 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Insider Buying and Selling

In other Elastic news, CFO Janesh Moorjani sold 6,941 shares of Elastic stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $487,605.25. Following the completion of the sale, the chief financial officer now owns 195,550 shares of the company’s stock, valued at $13,737,387.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Elastic news, CFO Janesh Moorjani sold 6,941 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $487,605.25. Following the transaction, the chief financial officer now directly owns 195,550 shares in the company, valued at $13,737,387.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 180,000 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $107.82, for a total transaction of $19,407,600.00. Following the completion of the sale, the chief technology officer now owns 2,874,978 shares of the company’s stock, valued at $309,980,127.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 347,070 shares of company stock worth $36,234,852. Corporate insiders own 18.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ESTC shares. Guggenheim assumed coverage on shares of Elastic in a research note on Wednesday, September 11th. They issued a “buy” rating and a $100.00 target price on the stock. Jefferies Financial Group reduced their price objective on Elastic from $140.00 to $110.00 and set a “buy” rating for the company in a report on Friday, August 30th. Barclays lowered their target price on Elastic from $117.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Friday, August 30th. Stifel Nicolaus cut their price target on Elastic from $120.00 to $98.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Finally, Robert W. Baird downgraded shares of Elastic from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $135.00 to $95.00 in a report on Friday, August 30th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $104.24.

Elastic Stock Performance

Shares of ESTC opened at $75.17 on Wednesday. Elastic has a 12-month low of $69.00 and a 12-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 market cap of $7.65 billion, a PE ratio of 141.83 and a beta of 0.95. The stock has a 50-day moving average price of $100.88 and a 200-day moving average price of $103.91.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.10. The business had revenue of $347.42 million during the quarter, compared to analyst estimates of $344.67 million. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. Elastic’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.35) earnings per share. As a group, equities 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.