Algert Global LLC Acquires 7,143 Shares of Elastic (NYSE:ESTC)

Algert Global LLC raised its stake in Elastic (NYSE:ESTC - Free Report) by 25.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,769 shares of the company's stock after acquiring an additional 7,143 shares during the period. Algert Global LLC's holdings in Elastic were worth $3,544,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new position in Elastic during the 4th quarter worth $25,000. Geneos Wealth Management Inc. bought a new position in Elastic in the 4th quarter valued at about $25,000. Venturi Wealth Management LLC increased its stake in Elastic by 793.3% during the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock valued at $27,000 after buying an additional 238 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Elastic by 126.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock worth $28,000 after buying an additional 158 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its stake in shares of Elastic by 1,065.2% in the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock worth $53,000 after acquiring an additional 490 shares during the period. 97.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ESTC has been the topic of several recent analyst reports. Cantor Fitzgerald assumed coverage on Elastic in a report on Friday, January 17th. They set a "neutral" rating and a $108.00 target price on the stock. Scotiabank cut their price objective on Elastic from $140.00 to $137.00 and set a "sector outperform" rating for the company in a report on Thursday, March 27th. Robert W. Baird lifted their target price on Elastic from $135.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. Wells Fargo & Company upped their price target on shares of Elastic from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Finally, DA Davidson dropped their target price on shares of Elastic from $115.00 to $75.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $127.48.

Insider Buying and Selling

In other news, CRO Mark Eugene Dodds sold 2,755 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $250,071.35. Following the sale, the executive now directly owns 96,484 shares in the company, valued at $8,757,852.68. The trade was a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Shay Banon sold 25,668 shares of the firm's stock in a transaction dated Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total value of $2,888,420.04. Following the completion of the transaction, the chief technology officer now owns 2,408,541 shares of the company's stock, valued at $271,033,118.73. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,304 shares of company stock worth $20,847,452 in the last quarter. 15.90% of the stock is owned by corporate insiders.

Elastic Stock Performance

Shares of NYSE:ESTC traded down $0.72 during midday trading on Friday, hitting $85.55. The company's stock had a trading volume of 1,000,688 shares, compared to its average volume of 1,415,734. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of 155.55 and a beta of 1.20. The stock's 50 day simple moving average is $87.13 and its 200 day simple moving average is $96.66. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96.

Elastic (NYSE:ESTC - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.48). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The company had revenue of $382.08 million for the quarter, compared to the consensus estimate of $368.85 million. As a group, research analysts anticipate that Elastic will post -0.77 earnings per share for the current year.

Elastic Profile

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.