Elastic (NYSE:ESTC) Shares Bought by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC grew its position in Elastic (NYSE:ESTC - Free Report) by 9.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 108,175 shares of the company's stock after buying an additional 9,469 shares during the period. Frontier Capital Management Co. LLC owned 0.10% of Elastic worth $10,718,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Driehaus Capital Management LLC bought a new position in Elastic in the fourth quarter valued at approximately $5,625,000. Daventry Group LP boosted its holdings in shares of Elastic by 16.8% during the 4th quarter. Daventry Group LP now owns 515,690 shares of the company's stock worth $51,095,000 after buying an additional 74,139 shares during the period. Cetera Investment Advisers increased its stake in shares of Elastic by 13.3% during the fourth quarter. Cetera Investment Advisers now owns 7,203 shares of the company's stock worth $714,000 after purchasing an additional 843 shares during the period. Centiva Capital LP acquired a new stake in shares of Elastic during the fourth quarter worth $1,831,000. Finally, Bridgefront Capital LLC acquired a new stake in shares of Elastic in the 4th quarter valued at $293,000. Institutional investors and hedge funds own 97.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ESTC shares. Piper Sandler upped their target price on Elastic from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Cantor Fitzgerald initiated coverage on Elastic in a research note on Friday, January 17th. They issued a "neutral" rating and a $108.00 target price on the stock. Robert W. Baird lifted their price objective on shares of Elastic from $135.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Guggenheim increased their price target on Elastic from $130.00 to $136.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Finally, Scotiabank reduced their price objective on shares of Elastic from $140.00 to $137.00 and set a "sector outperform" rating for the company in a research note on Thursday, March 27th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $127.48.

Elastic Trading Up 0.9%

Shares of NYSE ESTC traded up $0.80 during midday trading on Tuesday, reaching $93.56. 1,345,977 shares of the stock were exchanged, compared to its average volume of 1,424,945. Elastic has a twelve month low of $69.00 and a twelve month high of $123.96. The company has a 50 day simple moving average of $86.67 and a 200 day simple moving average of $96.99. The stock has a market capitalization of $9.77 billion, a P/E ratio of 170.11 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings data 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 net margin of 4.39% and a negative return on equity of 13.20%. The firm had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. As a group, equities analysts expect that Elastic will post -0.77 earnings per share for the current year.

Insider Buying and Selling at Elastic

In related news, CTO Shay Banon sold 25,668 shares of the firm's stock in a transaction that occurred on Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total value of $2,888,420.04. Following the sale, the chief technology officer now owns 2,408,541 shares of the company's stock, valued at $271,033,118.73. This trade represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 18,735 shares of Elastic stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the completion of the transaction, the chief executive officer now owns 376,591 shares of the company's stock, valued at $34,183,165.07. This represents a 4.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,304 shares of company stock valued at $20,847,452 in the last 90 days. Company insiders own 15.90% of the company's stock.

Elastic 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.