BNP Paribas Financial Markets Purchases 257,837 Shares of Elastic (NYSE:ESTC)

BNP Paribas Financial Markets grew its stake in Elastic (NYSE:ESTC - Free Report) by 386.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 324,623 shares of the company's stock after purchasing an additional 257,837 shares during the period. BNP Paribas Financial Markets owned about 0.31% of Elastic worth $32,164,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of Elastic in the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. acquired a new position in shares of Elastic in the 4th quarter valued at $25,000. Venturi Wealth Management LLC grew its holdings 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 during the period. Smartleaf Asset Management LLC raised its stake in Elastic by 126.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock worth $28,000 after buying an additional 158 shares during the period. Finally, Global Retirement Partners LLC lifted its holdings in shares of Elastic by 1,065.2% during the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock valued at $53,000 after purchasing an additional 490 shares in the last quarter. Institutional investors own 97.03% of the company's stock.

Insider Activity

In related news, CTO Shay Banon sold 140,129 shares of Elastic stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the sale, the chief technology officer now directly owns 2,254,978 shares in the company, valued at approximately $240,561,053.04. This trade represents a 5.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $34,183,165.07. This represents a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 198,304 shares of company stock worth $20,847,452 over the last three months. 15.90% of the stock is currently owned by insiders.

Elastic Trading Down 0.8 %

Shares of NYSE:ESTC traded down $0.72 during trading on Friday, reaching $85.55. The stock had a trading volume of 1,000,688 shares, compared to its average volume of 1,418,574. 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 fifty day moving average is $87.13 and its 200 day moving average is $96.93. The stock has a market cap of $8.93 billion, a price-to-earnings ratio of 155.55 and a beta of 1.20.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $368.85 million. As a group, equities analysts forecast that Elastic will post -0.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ESTC has been the topic of several research reports. Piper Sandler boosted their price objective on shares of Elastic from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Morgan Stanley dropped their price target on shares of Elastic from $140.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Guggenheim raised their price objective on Elastic from $130.00 to $136.00 and gave the company a "buy" rating in a research report on Friday, February 28th. 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 note on Monday, April 14th. Finally, Canaccord Genuity Group increased their price objective on Elastic from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently 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.