Grandeur Peak Global Advisors LLC Makes New $1.39 Million Investment in Elastic (NYSE:ESTC)

Grandeur Peak Global Advisors LLC acquired a new position in Elastic (NYSE:ESTC) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 12,539 shares of the company’s stock, valued at approximately $1,394,000.

Other institutional investors have also modified their holdings of the company. Voloridge Investment Management LLC acquired a new position in shares of Elastic in the 4th quarter valued at approximately $4,724,000. Sylebra Capital Ltd raised its position in shares of Elastic by 7.3% in the 1st quarter. Sylebra Capital Ltd now owns 5,048,948 shares of the company’s stock valued at $561,443,000 after buying an additional 343,631 shares in the last quarter. Capital International Investors raised its position in shares of Elastic by 5.1% in the 1st quarter. Capital International Investors now owns 2,436,820 shares of the company’s stock valued at $270,974,000 after buying an additional 119,190 shares in the last quarter. Virginia Retirement Systems ET AL raised its position in shares of Elastic by 41.1% in the 1st quarter. Virginia Retirement Systems ET AL now owns 12,700 shares of the company’s stock valued at $1,412,000 after buying an additional 3,700 shares in the last quarter. Finally, MML Investors Services LLC raised its position in shares of Elastic by 28.1% in the 1st quarter. MML Investors Services LLC now owns 5,794 shares of the company’s stock valued at $644,000 after buying an additional 1,272 shares in the last quarter. Institutional investors and hedge funds own 76.58% of the company’s stock.

Shares of NYSE:ESTC traded up $0.99 during trading on Thursday, reaching $145.24. The stock had a trading volume of 411 shares, compared to its average volume of 600,541. The business’s fifty day moving average is $133.89. Elastic has a 52 week low of $80.18 and a 52 week high of $176.49. The stock has a market capitalization of $13.29 billion, a PE ratio of -97.47 and a beta of 1.08.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Tuesday, June 1st. The company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.08. Elastic had a negative net margin of 21.27% and a negative return on equity of 23.15%. The company had revenue of $177.60 million for the quarter, compared to analyst estimates of $158.87 million. During the same period in the prior year, the firm posted ($0.12) EPS. The company’s quarterly revenue was up 43.7% on a year-over-year basis. Research analysts expect that Elastic will post -1.71 EPS for the current year.

In related news, CFO Janesh Moorjani sold 14,733 shares of the business’s stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $116.40, for a total transaction of $1,714,921.20. Following the transaction, the chief financial officer now owns 51,843 shares in the company, valued at approximately $6,034,525.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP W.H. Baird Garrett sold 1,000 shares of the business’s stock in a transaction on Wednesday, June 30th. The shares were sold at an average price of $148.13, for a total transaction of $148,130.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,147 shares of company stock worth $3,217,675. Insiders own 25.20% of the company’s stock.

ESTC has been the subject of several analyst reports. Canaccord Genuity dropped their target price on shares of Elastic from $175.00 to $155.00 and set a “buy” rating for the company in a research report on Thursday, June 3rd. Jefferies Financial Group lifted their price target on shares of Elastic from $150.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, July 13th. Sumitomo Mitsui Financial Group assumed coverage on shares of Elastic in a report on Wednesday, June 16th. They set an “outperform” rating and a $150.00 price target on the stock. Barclays decreased their price target on shares of Elastic from $200.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, June 3rd. Finally, Monness Crespi & Hardt lifted their price target on shares of Elastic from $200.00 to $212.00 and gave the company a “buy” rating in a report on Thursday, June 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $170.52.

Elastic Company Profile

Elastic N.V., a search company, delivers technology that enables users to search through structured and unstructured data for a range of consumer and enterprise applications. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as perform search, analysis, and visualization.

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Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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