Elastic N.V. $ESTC Shares Bought by Krane Funds Advisors LLC

Krane Funds Advisors LLC lifted its stake in shares of Elastic N.V. (NYSE:ESTC) by 154.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 18,994 shares of the company’s stock after acquiring an additional 11,539 shares during the period. Krane Funds Advisors LLC’s holdings in Elastic were worth $1,536,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ESTC. Focus Partners Wealth purchased a new position in Elastic during the first quarter worth approximately $494,000. Asset Management One Co. Ltd. acquired a new stake in shares of Elastic during the 2nd quarter worth $191,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Elastic by 115.9% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,030 shares of the company’s stock worth $424,000 after buying an additional 2,700 shares during the period. Focus Partners Advisor Solutions LLC raised its position in shares of Elastic by 46.0% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 7,920 shares of the company’s stock worth $668,000 after buying an additional 2,495 shares during the period. Finally, Brighton Jones LLC acquired a new position in Elastic in the second quarter valued at $638,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Elastic Trading Down 8.5%

Shares of ESTC opened at $53.19 on Tuesday. Elastic N.V. has a one year low of $52.73 and a one year high of $117.49. The stock has a 50-day moving average price of $69.91 and a 200 day moving average price of $78.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.97 and a current ratio of 1.97. The company has a market capitalization of $5.60 billion, a P/E ratio of -51.64, a P/E/G ratio of 236.42 and a beta of 0.93.

Insider Activity at Elastic

In related news, CRO Mark Eugene Dodds sold 5,800 shares of the company’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $74.60, for a total value of $432,680.00. Following the sale, the executive directly owned 161,484 shares of the company’s stock, valued at $12,046,706.40. This represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Carolyn Herzog sold 5,353 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total transaction of $401,742.65. Following the transaction, the insider directly owned 89,324 shares of the company’s stock, valued at approximately $6,703,766.20. This represents a 5.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 61,828 shares of company stock worth $4,641,010. 12.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Stifel Nicolaus dropped their price target on Elastic from $134.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Wells Fargo & Company dropped their target price on shares of Elastic from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, November 21st. DA Davidson cut their price target on shares of Elastic from $100.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. Rosenblatt Securities decreased their price objective on shares of Elastic from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Finally, Piper Sandler dropped their price objective on shares of Elastic from $125.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, November 21st. Seventeen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.17.

Elastic Profile

Elastic N.V. operates as a search and analytics company, offering a suite of open source and subscription-based solutions for search, observability and security use cases. Its flagship product, Elasticsearch, enables fast and scalable full-text search and analytics across large volumes of structured and unstructured data. Complementary tools such as Kibana provide visualization capabilities, while Beats and Logstash serve as lightweight data shippers and data processing pipelines, respectively.

The company was founded in 2012 by Shay Banon, who serves as chief technology officer, and Steven Schuurman.