Elastic (NYSE:ESTC) Shares Bought by Circle Wealth Management LLC

Circle Wealth Management LLC increased its stake in Elastic (NYSE:ESTC) by 33.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,238 shares of the company’s stock after purchasing an additional 2,309 shares during the quarter. Circle Wealth Management LLC’s holdings in Elastic were worth $709,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ESTC. Cetera Advisors LLC bought a new stake in Elastic in the first quarter worth about $435,000. DekaBank Deutsche Girozentrale acquired a new stake in Elastic during the first quarter valued at approximately $1,823,000. Lynx Investment Advisory bought a new stake in Elastic during the second quarter worth approximately $43,000. CWM LLC grew its position in Elastic by 16.5% in the second quarter. CWM LLC now owns 25,929 shares of the company’s stock worth $2,954,000 after buying an additional 3,671 shares during the last quarter. Finally, Blue Zone Wealth Advisors LLC increased its holdings in shares of Elastic by 3.8% in the second quarter. Blue Zone Wealth Advisors LLC now owns 28,542 shares of the company’s stock valued at $3,251,000 after buying an additional 1,054 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Insider Transactions at Elastic

In related news, Director Paul R. Auvil III acquired 20,000 shares of the company’s stock in a transaction dated 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 acquisition, the director now owns 22,627 shares in the company, valued at $1,680,054.75. This trade represents a 761.32 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Shay Banon sold 2,666 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $187,286.50. Following the completion of the sale, the chief technology officer now owns 4,543,190 shares of the company’s stock, valued at approximately $319,159,097.50. The trade was a 0.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 198,551 shares of company stock worth $20,506,656. 15.90% of the stock is owned by insiders.

Elastic Trading Down 0.6 %

Shares of NYSE:ESTC opened at $109.46 on Friday. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06. The firm has a fifty day moving average price of $85.26 and a 200 day moving average price of $97.19. The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $11.34 billion, a PE ratio of 199.02 and a beta of 0.94.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.10. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The firm had revenue of $347.42 million during the quarter, compared to analyst estimates of $344.67 million. During the same period in the previous year, the company earned ($0.35) EPS. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. Analysts expect that Elastic will post -0.79 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ESTC shares. William Blair upgraded Elastic from a “market perform” rating to an “outperform” rating in a report on Monday, October 14th. Piper Sandler lifted their price target on Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Wells Fargo & Company upped their price objective on shares of Elastic from $100.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Wedbush raised shares of Elastic from a “neutral” rating to an “outperform” rating and set a $135.00 target price on the stock in a research report on Monday, November 25th. Finally, UBS Group cut their price target on shares of Elastic from $135.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $126.33.

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.