ExodusPoint Capital Management LP Has $11.48 Million Stock Position in Elastic (NYSE:ESTC)

ExodusPoint Capital Management LP increased its holdings in shares of Elastic (NYSE:ESTC - Free Report) by 1,733.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 198,350 shares of the company's stock after purchasing an additional 187,530 shares during the period. ExodusPoint Capital Management LP owned approximately 0.21% of Elastic worth $11,484,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ESTC. Allspring Global Investments Holdings LLC lifted its holdings in Elastic by 418.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 441 shares of the company's stock worth $26,000 after acquiring an additional 356 shares during the period. Whittier Trust Co. purchased a new position in shares of Elastic in the first quarter valued at $31,000. Steward Partners Investment Advisory LLC increased its stake in Elastic by 50.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 707 shares of the company's stock worth $36,000 after acquiring an additional 238 shares during the last quarter. Amundi increased its stake in Elastic by 2,063.8% in the 4th quarter. Amundi now owns 1,017 shares of the company's stock worth $53,000 after acquiring an additional 970 shares during the last quarter. Finally, Nisa Investment Advisors LLC bought a new position in Elastic in the 1st quarter worth about $58,000. Institutional investors and hedge funds own 74.83% of the company's stock.

NYSE ESTC traded up $0.12 on Friday, hitting $59.50. 38,550 shares of the company traded hands, compared to its average volume of 1,149,461. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.78 and a quick ratio of 1.78. The business's 50 day moving average price is $63.93 and its 200-day moving average price is $61.85. Elastic has a 52-week low of $46.18 and a 52-week high of $91.30.

Elastic (NYSE:ESTC - Get Free Report) last posted its quarterly earnings results on Thursday, June 1st. The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.13. The business had revenue of $279.94 million for the quarter, compared to analysts' expectations of $277.63 million. Elastic had a negative return on equity of 46.49% and a negative net margin of 22.09%. The business's quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the firm earned ($0.64) earnings per share. On average, equities analysts expect that Elastic will post -1.19 earnings per share for the current fiscal year.

ESTC has been the subject of a number of research reports. TD Cowen initiated coverage on Elastic in a report on Friday, August 18th. They issued a "market perform" rating and a $65.00 price objective for the company. Royal Bank of Canada increased their price objective on Elastic from $71.00 to $84.00 in a report on Wednesday, May 31st. Citigroup increased their target price on Elastic from $75.00 to $92.00 in a research report on Thursday, June 1st. Robert W. Baird decreased their target price on Elastic from $76.00 to $60.00 in a research report on Monday, June 5th. Finally, Wells Fargo & Company raised Elastic from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $55.00 to $67.00 in a research report on Friday, June 2nd. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Elastic has an average rating of "Moderate Buy" and an average target price of $73.65.

Check Out Our Latest Report on Elastic

In other Elastic news, insider Ken Exner sold 2,235 shares of the business's stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $70.41, for a total transaction of $157,366.35. Following the sale, the insider now directly owns 120,882 shares of the company's stock, valued at $8,511,301.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Elastic news, insider Ken Exner sold 2,235 shares of the business's stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $70.41, for a total transaction of $157,366.35. Following the completion of the transaction, the insider now owns 120,882 shares in the company, valued at $8,511,301.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ashutosh Kulkarni sold 10,708 shares of the business's stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $70.41, for a total value of $753,950.28. Following the transaction, the chief executive officer now owns 332,329 shares of the company's stock, valued at approximately $23,399,284.89. The disclosure for this sale can be found here. Over the last three months, insiders have sold 372,694 shares of company stock valued at $25,962,227. 18.80% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding ESTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elastic (NYSE:ESTC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Elastic, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Elastic wasn't on the list.

While Elastic currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.