Northern Trust Corp Increases Stake in Elastic (NYSE:ESTC)

Northern Trust Corp grew its position in Elastic (NYSE:ESTC - Free Report) by 21.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 488,803 shares of the company's stock after buying an additional 86,612 shares during the period. Northern Trust Corp owned approximately 0.47% of Elastic worth $48,431,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Tudor Investment Corp ET AL raised its holdings in shares of Elastic by 5,972.6% during the fourth quarter. Tudor Investment Corp ET AL now owns 212,055 shares of the company's stock valued at $21,010,000 after purchasing an additional 208,563 shares during the last quarter. Quarry LP increased its holdings in Elastic by 338.4% during the fourth quarter. Quarry LP now owns 1,188 shares of the company's stock valued at $118,000 after buying an additional 917 shares during the last quarter. Aquatic Capital Management LLC increased its holdings in Elastic by 33.4% during the fourth quarter. Aquatic Capital Management LLC now owns 76,990 shares of the company's stock valued at $7,628,000 after buying an additional 19,290 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Elastic during the fourth quarter valued at approximately $8,126,000. Finally, HBK Investments L P purchased a new stake in Elastic during the fourth quarter valued at approximately $991,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Elastic news, CTO Shay Banon sold 140,129 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the completion of the transaction, the chief technology officer now owns 2,254,978 shares in the company, valued at $240,561,053.04. This trade represents a 5.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Mark Eugene Dodds sold 2,755 shares of the 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 transaction, the executive now owns 96,484 shares of the company's stock, valued at $8,757,852.68. This trade represents a 2.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 198,304 shares of company stock worth $20,847,452. 15.90% of the stock is owned by insiders.

Elastic Price Performance

Shares of NYSE:ESTC traded up $1.25 during midday trading on Tuesday, reaching $94.01. 386,785 shares of the company were exchanged, compared to its average volume of 1,417,919. 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 business's fifty day moving average is $86.78 and its two-hundred day moving average is $97.02. Elastic has a one year low of $69.00 and a one year high of $123.96. The stock has a market cap of $9.82 billion, a PE ratio of 170.93 and a beta of 1.20.

Elastic (NYSE:ESTC - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share 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 for the quarter, compared to the consensus estimate of $368.85 million. As a group, analysts predict that Elastic will post -0.77 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on ESTC. Cantor Fitzgerald began coverage on shares of Elastic in a report on Friday, January 17th. They set a "neutral" rating and a $108.00 target price for the company. Piper Sandler upped their target price on shares of Elastic from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Jefferies Financial Group reduced their target price on shares of Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a report on Monday, April 7th. Rosenblatt Securities reiterated a "buy" rating and issued a $130.00 price target on shares of Elastic in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company upped their price target on shares of Elastic from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $127.48.

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.