Canada Pension Plan Investment Board Purchases 9,600 Shares of Elastic (NYSE:ESTC)

Canada Pension Plan Investment Board grew its stake in shares of Elastic (NYSE:ESTC - Free Report) by 369.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 12,200 shares of the company's stock after acquiring an additional 9,600 shares during the quarter. Canada Pension Plan Investment Board's holdings in Elastic were worth $1,209,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ESTC. Sigma Planning Corp lifted its holdings in shares of Elastic by 3.7% during the fourth quarter. Sigma Planning Corp now owns 3,929 shares of the company's stock worth $389,000 after purchasing an additional 139 shares during the period. CIBC Asset Management Inc lifted its holdings in Elastic by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,053 shares of the company's stock worth $302,000 after buying an additional 151 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock valued at $28,000 after buying an additional 158 shares during the last quarter. Resolute Advisors LLC increased its stake in shares of Elastic by 7.1% in the fourth quarter. Resolute Advisors LLC now owns 3,255 shares of the company's stock valued at $323,000 after buying an additional 217 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of Elastic by 0.7% during the fourth quarter. Van ECK Associates Corp now owns 32,954 shares of the company's stock worth $3,265,000 after acquiring an additional 220 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CRO Mark Eugene Dodds sold 2,755 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 $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. This trade represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Carolyn Herzog sold 3,334 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 value of $302,660.52. Following the completion of the transaction, the insider now owns 84,152 shares of the company's stock, valued at approximately $7,639,318.56. This trade represents a 3.81 % 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.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. UBS Group upped their target price on Elastic from $140.00 to $148.00 and gave the company a "buy" rating in a report on Friday, February 28th. Jefferies Financial Group decreased their price objective on shares of Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Truist Financial dropped their target price on shares of Elastic from $145.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Morgan Stanley decreased their price target on Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Canaccord Genuity Group boosted their price objective on Elastic from $130.00 to $135.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Seven research 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, the stock presently has an average rating of "Moderate Buy" and an average price target of $127.48.

Elastic Stock Performance

Shares of NYSE:ESTC traded up $0.08 during mid-day trading on Wednesday, reaching $86.05. The company had a trading volume of 2,025,239 shares, compared to its average volume of 1,390,485. Elastic has a one year low of $69.00 and a one year high of $123.96. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The company's 50-day moving average price is $90.17 and its 200-day moving average price is $96.52. The firm has a market cap of $8.98 billion, a price-to-earnings ratio of 156.45 and a beta of 1.19.

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

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.