Clearline Capital LP Purchases 63,879 Shares of Elastic (NYSE:ESTC)

Clearline Capital LP boosted its holdings in Elastic (NYSE:ESTC) by 449.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 78,107 shares of the company’s stock after purchasing an additional 63,879 shares during the quarter. Clearline Capital LP owned about 0.08% of Elastic worth $5,995,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Elastic news, Director Paul R. Auvil III bought 20,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average cost of $74.25 per share, for a total transaction of $1,485,000.00. Following the purchase, the director now directly owns 22,627 shares of the company’s stock, valued at $1,680,054.75. The trade was a 761.32 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Carolyn Herzog sold 11,145 shares of Elastic stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total value of $1,240,884.30. Following the sale, the insider now owns 92,011 shares of the company’s stock, valued at approximately $10,244,504.74. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 198,551 shares of company stock valued at $20,506,656. Company insiders own 15.90% of the company’s stock.

Analyst Ratings Changes

ESTC has been the subject of several recent research reports. TD Cowen decreased their price target on Elastic from $110.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 30th. Citigroup raised their price target on shares of Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Jefferies Financial Group upped their price objective on shares of Elastic from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. William Blair raised shares of Elastic from a “market perform” rating to an “outperform” rating in a research report on Monday, October 14th. Finally, The Goldman Sachs Group upped their target price on Elastic from $99.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Elastic currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.33.

Elastic Price Performance

Shares of NYSE ESTC opened at $109.46 on Monday. The stock has a fifty day moving average of $85.26 and a 200-day moving average of $97.01. The stock has a market cap of $11.34 billion, a PE ratio of 199.02 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.91 and a current ratio of 1.99. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06.

Elastic (NYSE:ESTC) last announced 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 negative return on equity of 13.20% and a net margin of 4.39%. The firm had revenue of $347.42 million for the quarter, compared to analysts’ expectations of $344.67 million. During the same period in the prior year, the business posted ($0.35) earnings per share. The company’s revenue was up 18.3% on a year-over-year basis. Equities research analysts anticipate that Elastic will post -0.79 earnings per share for the current year.

Elastic Company 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.