Envestnet Asset Management Inc. Has $2.41 Million Stake in Elastic (NYSE:ESTC)

Envestnet Asset Management Inc. grew its holdings in shares of Elastic (NYSE:ESTC - Free Report) by 17.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,348 shares of the company's stock after purchasing an additional 3,602 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Elastic were worth $2,412,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Geneos Wealth Management Inc. bought a new stake in Elastic in the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. bought a new stake in Elastic in the fourth quarter worth $25,000. Venturi Wealth Management LLC raised its stake in Elastic by 793.3% during 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 in the last quarter. Smartleaf Asset Management LLC lifted its position in Elastic by 126.4% during 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 last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of Elastic by 1,065.2% in the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock worth $53,000 after buying an additional 490 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Elastic

In related news, CTO Shay Banon sold 140,129 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total value of $14,948,961.72. Following the completion of the transaction, the chief technology officer now directly owns 2,254,978 shares of the company's stock, valued at approximately $240,561,053.04. This trade represents a 5.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.77, for a total value of $1,700,575.95. Following the completion of the sale, the chief executive officer now directly owns 376,591 shares of the company's stock, valued at approximately $34,183,165.07. The trade was a 4.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 198,304 shares of company stock worth $20,847,452. 15.90% of the stock is currently owned by corporate insiders.

Elastic Stock Performance

ESTC stock traded up $1.16 during trading on Thursday, reaching $87.36. 433,419 shares of the company's stock were exchanged, compared to its average volume of 1,386,931. The firm has a market cap of $9.12 billion, a PE ratio of 158.83 and a beta of 1.19. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96. The company's fifty day moving average price is $90.17 and its 200-day moving average price is $96.52.

Elastic (NYSE:ESTC - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $368.85 million. On average, research analysts expect that Elastic will post -0.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ESTC shares. 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 report on Friday, February 28th. Wells Fargo & Company upped their price objective on Elastic from $135.00 to $150.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Morgan Stanley dropped their target price on Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Truist Financial reduced their price objective 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. Finally, UBS Group upped their target price on Elastic from $140.00 to $148.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.48.

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.