Glaxis Capital Management LLC bought a new stake in Elastic NV (NYSE:ESTC) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 7,315 shares of the company’s stock, valued at approximately $584,000. Elastic makes up about 1.7% of Glaxis Capital Management LLC’s investment portfolio, making the stock its 13th biggest position.
A number of other large investors have also bought and sold shares of the stock. Greenspring Associates Inc. purchased a new position in shares of Elastic during the fourth quarter worth about $256,206,000. Lunia Capital LP purchased a new position in shares of Elastic during the fourth quarter worth about $2,072,000. FMR LLC purchased a new position in shares of Elastic during the fourth quarter worth about $35,499,000. Lord Abbett & CO. LLC purchased a new position in shares of Elastic during the fourth quarter worth about $32,012,000. Finally, BlackRock Inc. purchased a new position in shares of Elastic during the fourth quarter worth about $30,062,000. 37.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE ESTC traded up $1.34 during midday trading on Monday, reaching $83.86. 510,813 shares of the company were exchanged, compared to its average volume of 618,893. Elastic NV has a 1 year low of $58.55 and a 1 year high of $100.43.
Elastic (NYSE:ESTC) last released its quarterly earnings results on Wednesday, February 27th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.08. The company had revenue of $70.80 million for the quarter, compared to analysts’ expectations of $65.77 million. Elastic’s quarterly revenue was up 69.8% compared to the same quarter last year. Analysts predict that Elastic NV will post -1.78 earnings per share for the current fiscal year.
Several brokerages have issued reports on ESTC. KeyCorp reaffirmed a “buy” rating and set a $102.00 price objective on shares of Elastic in a report on Thursday. Jefferies Financial Group raised their price objective on Elastic to $90.00 and gave the stock a “hold” rating in a report on Thursday, February 28th. They noted that the move was a valuation call. FBN Securities began coverage on Elastic in a report on Tuesday, April 2nd. They set an “outperform” rating on the stock. Zacks Investment Research lowered Elastic from a “buy” rating to a “hold” rating in a report on Tuesday, February 5th. Finally, Citigroup raised their price objective on Elastic from $82.00 to $97.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $90.27.
In related news, SVP Kevin Kluge sold 70,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $79.79, for a total transaction of $5,585,300.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP W.H. Baird Garrett sold 20,000 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $88.40, for a total value of $1,768,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,881,322 shares of company stock worth $156,132,760. Corporate insiders own 51.80% of the company’s stock.
Elastic N.V. develops and delivers technology that enables users to search structured and unstructured data for a range of consumer and enterprise applications. It primarily provides 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.
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