3,775 Shares in Elastic (NYSE:ESTC) Acquired by Cerity Partners LLC

Cerity Partners LLC bought a new stake in shares of Elastic (NYSE:ESTC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,775 shares of the company's stock, valued at approximately $374,000.

Other hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in Elastic during the 4th quarter valued at about $25,000. Geneos Wealth Management Inc. acquired a new position in shares of Elastic in the fourth quarter valued at about $25,000. Venturi Wealth Management LLC increased its holdings in shares of Elastic by 793.3% in the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock valued at $27,000 after purchasing an additional 238 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock valued at $28,000 after purchasing an additional 158 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in shares of Elastic by 1,065.2% in the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock valued at $53,000 after purchasing an additional 490 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ESTC. Guggenheim increased their price objective on Elastic from $130.00 to $136.00 and gave the company a "buy" rating in a report on Friday, February 28th. DA Davidson cut their price objective on Elastic from $115.00 to $75.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Rosenblatt Securities reissued a "buy" rating and issued a $130.00 price objective on shares of Elastic in a report on Tuesday, February 25th. Scotiabank lowered their target price on Elastic from $140.00 to $137.00 and set a "sector outperform" rating on the stock in a research note on Thursday, March 27th. Finally, Cantor Fitzgerald initiated coverage on Elastic in a research note on Friday, January 17th. They issued a "neutral" rating and a $108.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Elastic presently has an average rating of "Moderate Buy" and an average target price of $127.48.

Insider Buying and Selling at Elastic

In other news, CTO Shay Banon sold 25,668 shares of the stock in a transaction dated 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 sale, the chief technology officer now owns 2,408,541 shares of the company's stock, valued at approximately $271,033,118.73. This represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total transaction of $513,200.00. Following the sale, the chief executive officer now directly owns 371,591 shares in the company, 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 have sold 198,304 shares of company stock valued at $20,847,452 over the last 90 days. 15.90% of the stock is owned by insiders.

Elastic Trading Up 0.7 %

Shares of NYSE:ESTC traded up $0.57 during midday trading on Monday, reaching $84.79. 1,855,399 shares of the company's stock were exchanged, compared to its average volume of 1,387,199. The firm's 50 day simple moving average is $91.05 and its two-hundred day simple moving average is $96.67. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of 154.16 and a beta of 1.19.

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 analysts' consensus estimates of $0.47 by ($0.48). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The company had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. As a group, sell-side analysts forecast that Elastic will post -0.77 EPS for the current fiscal year.

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.