J. Safra Sarasin Holding AG Has $12.67 Million Stock Holdings in Elastic (NYSE:ESTC)

J. Safra Sarasin Holding AG increased its holdings in Elastic (NYSE:ESTC - Free Report) by 19.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,874 shares of the company's stock after acquiring an additional 20,973 shares during the quarter. J. Safra Sarasin Holding AG owned approximately 0.12% of Elastic worth $12,670,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Stifel Financial Corp lifted its holdings in Elastic by 10.7% in the third quarter. Stifel Financial Corp now owns 19,564 shares of the company's stock valued at $1,502,000 after acquiring an additional 1,898 shares during the period. Barclays PLC increased its holdings in Elastic by 56.2% in the third quarter. Barclays PLC now owns 153,155 shares of the company's stock valued at $11,757,000 after buying an additional 55,084 shares in the last quarter. Virtu Financial LLC lifted its position in shares of Elastic by 131.9% during the 3rd quarter. Virtu Financial LLC now owns 4,338 shares of the company's stock valued at $333,000 after acquiring an additional 2,467 shares during the period. Tidal Investments LLC grew its holdings in shares of Elastic by 239.1% in the 3rd quarter. Tidal Investments LLC now owns 9,807 shares of the company's stock worth $753,000 after acquiring an additional 6,915 shares during the period. Finally, Franklin Resources Inc. increased its stake in Elastic by 256.3% in the 3rd quarter. Franklin Resources Inc. now owns 341,524 shares of the company's stock valued at $28,387,000 after purchasing an additional 245,680 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Elastic

In other news, CTO Shay Banon sold 140,129 shares of the stock in a transaction on Tuesday, March 4th. The stock was 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 in the company, valued at approximately $240,561,053.04. This represents a 5.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ashutosh Kulkarni sold 18,735 shares of Elastic 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 sale, the chief executive officer now directly owns 376,591 shares in the company, valued at $34,183,165.07. The trade was a 4.74 % decrease in their ownership of the stock. 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 ninety days. 15.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on ESTC. DA Davidson cut their target price on shares of Elastic from $115.00 to $75.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Guggenheim upped their target price on Elastic from $130.00 to $136.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Cantor Fitzgerald started coverage on Elastic in a research report on Friday, January 17th. They set a "neutral" rating and a $108.00 price target for the company. Scotiabank cut their price target on Elastic from $140.00 to $137.00 and set a "sector outperform" rating for the company in a report on Thursday, March 27th. Finally, Piper Sandler increased their price objective on Elastic from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Seven investment 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $127.48.

Elastic Stock Up 2.2 %

Shares of NYSE:ESTC traded up $1.79 during midday trading on Friday, reaching $83.91. The company had a trading volume of 1,812,816 shares, compared to its average volume of 1,384,039. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The business's 50 day moving average price is $91.59 and its 200 day moving average price is $96.44. The stock has a market cap of $8.76 billion, a PE ratio of 152.56 and a beta of 1.19. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96.

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). The firm had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. Research analysts forecast 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.