ArrowMark Colorado Holdings LLC Raises Stock Holdings in Elastic (NYSE:ESTC)

ArrowMark Colorado Holdings LLC boosted its stake in shares of Elastic (NYSE:ESTC - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 337,428 shares of the company's stock after buying an additional 17,744 shares during the quarter. ArrowMark Colorado Holdings LLC owned 0.33% of Elastic worth $33,432,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Norges Bank purchased a new position in shares of Elastic during the 4th quarter worth approximately $102,485,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Elastic by 5,972.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company's stock valued at $73,751,000 after buying an additional 732,100 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Elastic by 554.9% in the 4th quarter. Marshall Wace LLP now owns 641,041 shares of the company's stock valued at $63,514,000 after buying an additional 543,155 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in Elastic during the 4th quarter worth about $46,031,000. Finally, Pictet Asset Management Holding SA boosted its holdings in Elastic by 15.6% during 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 acquiring an additional 462,974 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CTO Shay Banon sold 25,668 shares of the company's stock in a transaction on Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the transaction, the chief technology officer now directly owns 2,408,541 shares of the company's stock, valued at $271,033,118.73. This represents a 1.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total transaction of $513,200.00. Following the completion of the transaction, the chief executive officer now owns 371,591 shares of the company's stock, valued at $38,140,100.24. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,304 shares of company stock valued at $20,847,452 over the last ninety days. Corporate insiders own 15.90% of the company's stock.

Elastic Stock Down 3.7 %

ESTC opened at $83.07 on Friday. The business has a 50 day moving average price of $89.39 and a two-hundred day moving average price of $96.55. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. The company has a market cap of $8.67 billion, a PE ratio of 151.04 and a beta of 1.19. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.

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

Analysts Set New Price Targets

Several analysts have recently issued reports on ESTC shares. Wells Fargo & Company increased their price target on shares of Elastic from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Morgan Stanley decreased their price target on shares of Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Piper Sandler upped their price objective on Elastic from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Jefferies Financial Group decreased their target price on Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, Cantor Fitzgerald began coverage on Elastic in a report on Friday, January 17th. They set a "neutral" rating and a $108.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Elastic has an average rating of "Moderate Buy" and a consensus price target of $127.48.

Elastic Company 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.

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