Aquatic Capital Management LLC Purchases 19,290 Shares of Elastic (NYSE:ESTC)

Aquatic Capital Management LLC grew its position in Elastic (NYSE:ESTC - Free Report) by 33.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 76,990 shares of the company's stock after purchasing an additional 19,290 shares during the period. Aquatic Capital Management LLC owned approximately 0.07% of Elastic worth $7,628,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ESTC. Vanguard Group Inc. increased its stake in shares of Elastic by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company's stock worth $926,607,000 after acquiring an additional 168,483 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Elastic by 15.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock valued at $339,820,000 after buying an additional 462,974 shares in the last quarter. Geode Capital Management LLC increased its holdings in Elastic by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company's stock worth $142,663,000 after buying an additional 45,076 shares during the last quarter. Norges Bank acquired a new stake in Elastic in the fourth quarter valued at approximately $102,485,000. Finally, Federated Hermes Inc. boosted its holdings in Elastic by 15.4% in the fourth quarter. Federated Hermes Inc. now owns 884,400 shares of the company's stock worth $87,626,000 after purchasing an additional 118,294 shares in the last quarter. Institutional investors own 97.03% of the company's stock.

Elastic Trading Down 2.9 %

NYSE ESTC traded down $2.53 during trading hours on Friday, hitting $83.77. 1,407,404 shares of the company's stock were exchanged, compared to its average volume of 1,393,144. The firm has a market cap of $8.75 billion, a price-to-earnings ratio of 152.57 and a beta of 1.19. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96. The stock has a 50-day simple moving average of $89.79 and a 200 day simple moving average of $96.54. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70.

Elastic (NYSE:ESTC - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.47 by ($0.48). The business had revenue of $382.08 million for the quarter, compared to the consensus estimate of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. On average, equities analysts forecast that Elastic will post -0.77 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Carolyn Herzog sold 3,334 shares of Elastic stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.78, for a total value of $302,660.52. Following the sale, the insider now owns 84,152 shares of the company's stock, valued at approximately $7,639,318.56. The trade was a 3.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $1,700,575.95. Following the completion of the sale, the chief executive officer now directly owns 376,591 shares of the company's stock, valued at $34,183,165.07. This represents a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,304 shares of company stock valued at $20,847,452. Insiders own 15.90% of the company's stock.

Analysts Set New Price Targets

ESTC has been the subject of several recent analyst reports. Piper Sandler upped their price target on Elastic from $130.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. UBS Group boosted their target price on shares of Elastic from $140.00 to $148.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Guggenheim upped their target price on shares of Elastic from $130.00 to $136.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Jefferies Financial Group decreased their price objective on Elastic from $125.00 to $110.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $130.00 target price on shares of Elastic in a research report on Tuesday, February 25th. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $127.48.

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.