Baird Financial Group Inc. Purchases New Holdings in Elastic (NYSE:ESTC)

Baird Financial Group Inc. purchased a new stake in Elastic (NYSE:ESTC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 43,927 shares of the company's stock, valued at approximately $4,352,000.

A number of other institutional investors have also made changes to their positions in ESTC. SBI Securities Co. Ltd. bought a new position in shares of Elastic in the fourth quarter worth about $25,000. Geneos Wealth Management Inc. bought a new position in Elastic in the 4th quarter worth approximately $25,000. Venturi Wealth Management LLC raised its position in Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock worth $27,000 after purchasing an additional 238 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock worth $28,000 after purchasing an additional 158 shares during the last quarter. Finally, Global Retirement Partners LLC raised its position in 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 purchasing an additional 490 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

Elastic Stock Up 0.9%

Shares of ESTC traded up $0.80 during mid-day trading on Tuesday, hitting $93.56. 1,345,977 shares of the company's stock were exchanged, compared to its average volume of 1,424,945. The company has a market cap of $9.77 billion, a PE ratio of 170.11 and a beta of 1.20. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. The company has a 50-day simple moving average of $86.78 and a 200 day simple moving average of $97.02. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. On average, research analysts forecast that Elastic will post -0.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ESTC. UBS Group boosted their target price on Elastic from $140.00 to $148.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Morgan Stanley dropped their target price 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. Canaccord Genuity Group upped their target price on shares of Elastic from $130.00 to $135.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Robert W. Baird upped their price objective on Elastic from $135.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, February 28th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $130.00 price objective on shares of Elastic in a report on Tuesday, February 25th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $127.48.

Insider Activity at Elastic

In other Elastic news, CRO Mark Eugene Dodds sold 2,755 shares of Elastic stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.77, for a total transaction of $250,071.35. Following the completion of the transaction, the executive now directly owns 96,484 shares of the company's stock, valued at $8,757,852.68. The trade was a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Shay Banon sold 25,668 shares of Elastic stock in a transaction dated Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the sale, the chief technology officer now directly 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. Over the last three months, insiders sold 198,304 shares of company stock valued at $20,847,452. 15.90% of the stock is owned by corporate insiders.

About Elastic

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.