NEA Management Company LLC acquired a new stake in Elastic NV (NYSE:ESTC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,353,498 shares of the company’s stock, valued at approximately $454,148,000. Elastic accounts for about 18.0% of NEA Management Company LLC’s portfolio, making the stock its 2nd largest holding. NEA Management Company LLC owned approximately 8.95% of Elastic as of its most recent filing with the Securities & Exchange Commission.
Shares of NYSE:ESTC traded up $2.38 during midday trading on Friday, hitting $75.64. The stock had a trading volume of 6,295 shares, compared to its average volume of 251,708. Elastic NV has a 1 year low of $58.55 and a 1 year high of $83.84.
Elastic (NYSE:ESTC) last announced its quarterly earnings data on Tuesday, December 4th. The company reported ($0.38) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.47) by $0.09. The company had revenue of $63.60 million during the quarter, compared to analyst estimates of $56.54 million. The company’s revenue for the quarter was up 71.9% compared to the same quarter last year. On average, equities analysts predict that Elastic NV will post -1.33 earnings per share for the current fiscal year.
ESTC has been the subject of several research reports. Bank of America started coverage on shares of Elastic in a research note on Tuesday, October 30th. They set a “buy” rating and a $81.00 price objective for the company. Canaccord Genuity assumed coverage on shares of Elastic in a research report on Tuesday, October 30th. They issued a “hold” rating and a $65.00 target price on the stock. Jefferies Financial Group assumed coverage on shares of Elastic in a research report on Tuesday, October 30th. They issued a “hold” rating and a $65.00 target price on the stock. Monness Crespi & Hardt began coverage on shares of Elastic in a research report on Monday, December 17th. They issued a “buy” rating and a $100.00 target price on the stock. Finally, Citigroup began coverage on shares of Elastic in a research report on Tuesday, October 30th. They set a “neutral” rating and a $74.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $75.22.
TRADEMARK VIOLATION NOTICE: “NEA Management Company LLC Acquires Shares of 6,353,498 Elastic NV (ESTC)” was reported by Fairfield Current and is the sole property of of Fairfield Current. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark laws. The original version of this news story can be accessed at https://www.fairfieldcurrent.com/news/2019/01/18/nea-management-company-llc-acquires-shares-of-6353498-elastic-nv-estc.html.
Elastic N.V. develops and delivers technology that enables users to search structured and unstructured data for a range of consumer and enterprise applications. It primarily provides 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.
Read More: How is the LIBOR rate calculated?
Receive News & Ratings for Elastic Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Elastic and related companies with MarketBeat.com’s FREE daily email newsletter.