Alkeon Capital Management LLC Trims Holdings in Elastic (NYSE:ESTC)

Alkeon Capital Management LLC trimmed its stake in shares of Elastic (NYSE:ESTC) by 51.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 703,716 shares of the company’s stock after selling 744,904 shares during the quarter. Alkeon Capital Management LLC owned 0.68% of Elastic worth $54,017,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Fifth Third Wealth Advisors LLC bought a new stake in shares of Elastic during the third quarter valued at about $1,262,000. WD Rutherford LLC bought a new stake in Elastic during the 2nd quarter worth approximately $422,000. Assenagon Asset Management S.A. purchased a new stake in Elastic in the 2nd quarter worth approximately $102,169,000. Daventry Group LP boosted its holdings in Elastic by 8.6% in the 2nd quarter. Daventry Group LP now owns 316,975 shares of the company’s stock valued at $36,107,000 after purchasing an additional 25,008 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Elastic during the 1st quarter valued at $1,823,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. TD Cowen dropped their price objective on Elastic from $110.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Oppenheimer lifted their price target on Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. UBS Group decreased their price objective on shares of Elastic from $135.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Robert W. Baird upgraded shares of Elastic from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $95.00 to $135.00 in a research report on Friday, November 22nd. Finally, Stifel Nicolaus increased their price target on shares of Elastic from $98.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $126.33.

Elastic Stock Performance

Shares of NYSE:ESTC opened at $110.13 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average price of $83.93 and a 200-day moving average price of $97.09. The company has a market cap of $11.41 billion, a price-to-earnings ratio of 200.24 and a beta of 0.94. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $344.67 million. During the same period last year, the company earned ($0.35) EPS. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. As a group, equities analysts anticipate that Elastic will post -0.79 EPS for the current year.

Insider Buying and Selling at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 19,649 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $1,380,342.25. Following the transaction, the chief executive officer now owns 432,648 shares in the company, valued at approximately $30,393,522. This represents a 4.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Shay Banon sold 150,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total value of $16,638,000.00. Following the completion of the transaction, the chief technology officer now directly owns 2,604,978 shares of the company’s stock, valued at $288,944,159.76. This represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 198,551 shares of company stock valued at $20,506,656. 15.90% of the stock is currently owned by company insiders.

About Elastic

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.