Bank of America Corp DE Has $41.01 Million Holdings in Elastic (NYSE:ESTC)

Bank of America Corp DE boosted its stake in Elastic (NYSE:ESTC - Free Report) by 22.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 413,901 shares of the company's stock after buying an additional 74,732 shares during the quarter. Bank of America Corp DE owned approximately 0.40% of Elastic worth $41,009,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC raised its position in shares of Elastic by 56.2% in the third quarter. Barclays PLC now owns 153,155 shares of the company's stock valued at $11,757,000 after purchasing an additional 55,084 shares during the period. FNY Investment Advisers LLC boosted its holdings in Elastic by 87.3% in the 4th quarter. FNY Investment Advisers LLC now owns 749 shares of the company's stock valued at $74,000 after purchasing an additional 349 shares during the period. Oak Thistle LLC bought a new position in shares of Elastic during the 4th quarter worth about $357,000. Nisa Investment Advisors LLC grew its position in Elastic by 3,442.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 14,525 shares of the company's stock worth $1,439,000 after buying an additional 14,115 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Elastic in the 4th quarter worth approximately $7,293,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction on 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 in the company, valued at approximately $38,140,100.24. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 2,683 shares of Elastic stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.78, for a total transaction of $243,562.74. Following the completion of the sale, the chief technology officer now owns 4,535,456 shares in the company, valued at $411,728,695.68. The trade was a 0.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 198,304 shares of company stock worth $20,847,452 over the last quarter. 15.90% of the stock is currently owned by company insiders.

Elastic Trading Down 0.3%

Shares of ESTC stock traded down $0.24 on Monday, hitting $92.08. The stock had a trading volume of 2,191,446 shares, compared to its average volume of 1,442,578. 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 has a twelve month low of $69.00 and a twelve month high of $123.96. The company has a fifty day moving average price of $86.56 and a two-hundred day moving average price of $97.37. The firm has a market cap of $9.61 billion, a P/E ratio of 167.42 and a beta of 1.20.

Elastic (NYSE:ESTC - Get Free Report) last posted 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). The business had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. As a group, analysts forecast that Elastic will post -0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. 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. Rosenblatt Securities restated a "buy" rating and set a $130.00 price target on shares of Elastic in a research report on Tuesday, February 25th. Morgan Stanley cut their price objective on Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company increased their target price on Elastic from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Finally, Canaccord Genuity Group increased their price objective on shares of Elastic from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Seven 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.87.

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.