Aquila Investment Management LLC Has $2.99 Million Holdings in Elastic (NYSE:ESTC)

Aquila Investment Management LLC boosted its stake in shares of Elastic (NYSE:ESTC) by 85.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,000 shares of the company’s stock after buying an additional 18,000 shares during the quarter. Elastic makes up 3.3% of Aquila Investment Management LLC’s portfolio, making the stock its 8th largest position. Aquila Investment Management LLC’s holdings in Elastic were worth $2,994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

ESTC has been the topic of a number of recent research reports. Robert W. Baird lowered shares of Elastic from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $135.00 to $95.00 in a research note on Friday, August 30th. TD Cowen decreased their price objective on Elastic from $110.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 30th. Citigroup lifted their price target on shares of Elastic from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Needham & Company LLC reissued a “hold” rating on shares of Elastic in a research note on Tuesday, October 8th. Finally, Barclays raised Elastic from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $90.00 to $95.00 in a research report on Monday, October 7th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Elastic presently has a consensus rating of “Moderate Buy” and an average price target of $103.71.

Insider Transactions at Elastic

In related 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 value of $487,605.25. Following the completion of the sale, the chief financial officer now directly owns 195,550 shares in the company, valued at $13,737,387.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CTO Shay Banon sold 2,666 shares of Elastic stock in a transaction 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 transaction, the chief technology officer now directly owns 4,543,190 shares in the company, valued at approximately $319,159,097.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Janesh Moorjani sold 6,941 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $487,605.25. Following the sale, the chief financial officer now owns 195,550 shares of the company’s stock, valued at $13,737,387.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,406 shares of company stock valued at $2,627,772. 18.10% of the stock is currently owned by corporate insiders.

Elastic Trading Down 1.3 %

Shares of ESTC opened at $79.40 on Wednesday. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 149.81 and a beta of 0.94. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. Elastic has a 1-year low of $69.00 and a 1-year high of $136.06. The company has a 50-day moving average of $84.28 and a 200 day moving average of $99.44.

Elastic (NYSE:ESTC) last posted its quarterly earnings results 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 firm had revenue of $347.42 million during the quarter, compared to the consensus estimate of $344.67 million. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. The company’s revenue was up 18.3% on a year-over-year basis. On average, research analysts expect that Elastic will post -0.91 EPS 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.