Driehaus Capital Management LLC Purchases New Shares in Elastic (NYSE:ESTC)

Driehaus Capital Management LLC acquired a new position in shares of Elastic (NYSE:ESTC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 56,774 shares of the company's stock, valued at approximately $5,625,000. Driehaus Capital Management LLC owned about 0.05% of Elastic as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Elastic by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company's stock worth $926,607,000 after acquiring an additional 168,483 shares during the period. Pictet Asset Management Holding SA grew its stake in Elastic by 15.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock worth $339,820,000 after buying an additional 462,974 shares in the last quarter. Geode Capital Management LLC increased its holdings in Elastic by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company's stock valued at $142,663,000 after buying an additional 45,076 shares during the period. Norges Bank acquired a new position in shares of Elastic in the 4th quarter valued at approximately $102,485,000. Finally, Federated Hermes Inc. lifted its holdings in shares of Elastic by 15.4% during the 4th quarter. Federated Hermes Inc. now owns 884,400 shares of the company's stock worth $87,626,000 after acquiring an additional 118,294 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the business's 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 sale, the chief executive officer now owns 371,591 shares of the company's stock, valued at $38,140,100.24. This trade represents a 1.33% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 198,304 shares of company stock valued at $20,847,452. 15.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on ESTC. Morgan Stanley lowered their target price on Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Truist Financial cut their target price on shares of Elastic from $145.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. UBS Group upped their price target on shares of Elastic from $140.00 to $148.00 and gave the stock 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. Finally, Cantor Fitzgerald assumed coverage on Elastic in a report on Friday, January 17th. They issued a "neutral" rating and a $108.00 target price for the company. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.48.

Elastic Trading Up 0.9%

Shares of Elastic stock traded up $0.80 on Tuesday, reaching $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 capitalization of $9.77 billion, a P/E 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 debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The firm's 50-day moving average is $86.67 and its two-hundred day moving average is $96.99.

Elastic (NYSE:ESTC - Get Free Report) last posted its quarterly 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 negative return on equity of 13.20% and a net margin of 4.39%. The company had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. Sell-side analysts predict 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.