Aigen Investment Management LP Acquires New Holdings in Elastic (NYSE:ESTC)

Aigen Investment Management LP bought a new position in shares of Elastic (NYSE:ESTC) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 1,092 shares of the company’s stock, valued at approximately $118,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Montreal Can boosted its holdings in shares of Elastic by 71.6% in the second quarter. Bank of Montreal Can now owns 472 shares of the company’s stock valued at $46,000 after buying an additional 197 shares during the period. Liberty One Investment Management LLC acquired a new position in Elastic in the 2nd quarter worth $45,000. Rockefeller Capital Management L.P. acquired a new position in Elastic in the 2nd quarter worth $48,000. Lee Financial Co bought a new position in Elastic during the 3rd quarter worth about $59,000. Finally, IFP Advisors Inc raised its stake in shares of Elastic by 1,614.3% in the 3rd quarter. IFP Advisors Inc now owns 840 shares of the company’s stock valued at $91,000 after purchasing an additional 791 shares during the period. 71.80% of the stock is currently owned by hedge funds and other institutional investors.

In other Elastic news, SVP W.H. Baird Garrett sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $108.06, for a total transaction of $1,080,600.00. Following the transaction, the senior vice president now owns 50,320 shares in the company, valued at approximately $5,437,579.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Janesh Moorjani sold 14,733 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $110.26, for a total transaction of $1,624,460.58. Following the transaction, the chief financial officer now directly owns 35,192 shares in the company, valued at $3,880,269.92. The disclosure for this sale can be found here. In the last three months, insiders sold 855,684 shares of company stock valued at $89,941,138. 25.20% of the stock is currently owned by company insiders.

Elastic stock opened at $112.96 on Friday. The company’s 50-day moving average price is $110.90 and its two-hundred day moving average price is $95.67. The stock has a market cap of $9.75 billion, a P/E ratio of -62.76 and a beta of 1.00. Elastic has a twelve month low of $39.01 and a twelve month high of $127.90.

Elastic (NYSE:ESTC) last announced its earnings results on Wednesday, August 26th. The company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.24. The company had revenue of $128.90 million for the quarter, compared to analyst estimates of $120.94 million. Elastic had a negative return on equity of 25.60% and a negative net margin of 30.94%. The firm’s quarterly revenue was up 43.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.32) earnings per share. As a group, equities analysts forecast that Elastic will post -1.49 EPS for the current year.

ESTC has been the subject of a number of recent research reports. Bank of America increased their price objective on shares of Elastic from $95.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Royal Bank of Canada boosted their price target on Elastic from $130.00 to $140.00 in a research report on Thursday, October 15th. Berenberg Bank started coverage on Elastic in a report on Tuesday. They issued a “buy” rating for the company. Piper Sandler raised their target price on shares of Elastic from $94.00 to $127.00 and gave the company an “overweight” rating in a research note on Thursday, August 27th. Finally, Barclays upped their price target on shares of Elastic from $108.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, August 24th. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Elastic presently has a consensus rating of “Buy” and an average price target of $127.00.

About Elastic

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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