The Vanguard Group, Inc. has recently announced that it has increased stake in Elastic N.V. (NYSE:ESTC) by 5.25%. After grabbing 7.84 million shares, the institutional investor is now in possession of 0.39 million shares of the Technology Company. The new investment brought the stake of investor firm to 8.12% having worth around $448.78 million. Moreover, Baillie Gifford & Co. increased its share by 1.72 million to have a control over 7.63 million shares. And Fidelity Management & Research Co raised its holdings to 0.54 million shares by acquiring 5.38 million shares or 5.57% of the stake.
Elastic N.V. (ESTC) concluded trading on 05/25/23 at a closing price of $66.67, with 1.06 million shares of worth about $70.65 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 16.43% during that period and on Thursday the price saw a loss of about -0.02%. Currently the company’s common shares owned by public are about 96.05M shares, out of which, 78.04M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 20 analysts are covering the ESTC stock and their offered price forecasts bring an average price target of $70.49. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $85.00 and could fall to a lowest price of $55.00. The stock’s current price level is 5.66% above of average price target set by the analysts, while a rise to estimated low would result in loss of -21.22% for the stock. However, touching the estimated high of $85.00 would mean a gain of 21.56% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 36 times over the past 12 months. They bought 645,532 shares in 17 of the transactions. In 19 selling transactions, insiders dumped 52,225 shares.
Vanguard International Growth Fun, Fidelity Funds SICAV – Global Tec, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Elastic N.V. Vanguard International Growth Fun is currently holding 4.9 million shares of worth totaling $280.3 million. The company recently came buying 1.47 million shares which brought its stake up to 5.07% of the company’s outstanding shares. Fidelity Funds SICAV – Global Tec sold -0.22 million shares, after which its hold over company’s outstanding shares shrunk to 2.62%, leaving 2.53 million shares with the mutual fund that have a worth of about $144.78 million. Vanguard Total Stock Market ETF, after buying 2.38 million shares, have now control over 2.47% of the stake in the company. It holds 20809.0 shares of worth $136.26 million.
Elastic N.V. (NYSE: ESTC) started trading at $67.89, above $1.21 from concluding price of the previous day. However, the stock later moved at a day high price of 68.94, or with a loss of -0.02%. Stock saw a price change of 1.68% in past 5 days and over the past one month there was a price change of 13.75%. Year-to-date (YTD), ESTC shares are showing a performance of 29.46% which increased to 16.76% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $46.18 but also hit the highest price of $91.30 during that period. The average intraday trading volume for Elastic N.V. shares is 978.25K. The stock is currently trading 10.81% above its 20-day simple moving average (SMA20), while that difference is up 14.42% for SMA50 and it goes to 6.12% higher than SMA200.
The Vanguard Group, Inc. acquired 7.84 million shares of Elastic N.V. having value of about $448.78 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.39 million shares in the company valued at close to $26083237.43, or have control over 5.25% stake in the company. Elastic N.V. (NYSE: ESTC) currently have 96.05M outstanding shares and institutions hold larger chunk of about 78.70% of that. Holding of mutual funds in the company is about 39.07% while other institutional holders and individual stake holders have control over 39.22% and 37.89% of the stake respectively.
The stock has a current market capitalization of $6.51B and its 3Y-monthly beta is at 1.04. It has posted earnings per share of -$2.69 in the same period. It has Quick Ratio of 1.90 while making debt-to-equity ratio of 1.47. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ESTC, volatility over the week remained 3.82% while standing at 3.56% over the month.
Analysts are in expectations that Elastic N.V. (ESTC) stock would likely to be making an EPS of $0.1 in the current quarter, while forecast for next quarter EPS is $0.13 and it is $0.89 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.08 which is $0.13 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.16 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -48.40% while it is estimated to increase by 584.62% in next year. EPS is likely to grow at an annualized rate of 23.10% for next 5-years, compared to annual growth of -24.10% made by the stock over the past 5-years.
Analysts at 20 brokerage firms have issued recommendations for the Elastic N.V. (ESTC)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.10. Out of those 20 Wall Street analysts, 11 recommended a “Buy” rating, while 6 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
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