Elastic (NYSE:ESTC) Shares Sold by Advent International L.P.

Advent International L.P. trimmed its position in shares of Elastic (NYSE:ESTC - Free Report) by 29.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 258,716 shares of the company's stock after selling 107,000 shares during the quarter. Elastic makes up 0.6% of Advent International L.P.'s holdings, making the stock its 16th biggest holding. Advent International L.P. owned approximately 0.25% of Elastic worth $25,634,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV bought a new position in shares of Elastic in the 4th quarter worth about $469,000. Freestone Grove Partners LP acquired a new stake in shares of Elastic during the 4th quarter worth approximately $27,255,000. Utah Retirement Systems boosted its stake in Elastic by 7.5% during the fourth quarter. Utah Retirement Systems now owns 14,400 shares of the company's stock worth $1,427,000 after acquiring an additional 1,000 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Elastic in the fourth quarter worth $33,114,000. Finally, Northern Trust Corp increased its stake in Elastic by 21.5% in the fourth quarter. Northern Trust Corp now owns 488,803 shares of the company's stock valued at $48,431,000 after purchasing an additional 86,612 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 Elastic stock in a transaction dated 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 owns 2,254,978 shares in the company, valued at $240,561,053.04. The trade was a 5.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Carolyn Herzog sold 3,334 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $90.78, for a total value of $302,660.52. Following the transaction, the insider now owns 84,152 shares in the company, valued at $7,639,318.56. This represents a 3.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 198,304 shares of company stock worth $20,847,452. Insiders own 15.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ESTC. Morgan Stanley reduced their target price on Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Rosenblatt Securities reiterated a "buy" rating and issued a $130.00 target price on shares of Elastic in a report on Tuesday, February 25th. Truist Financial decreased their price target on shares of Elastic from $145.00 to $140.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Scotiabank dropped their price objective on shares of Elastic from $140.00 to $137.00 and set a "sector outperform" rating on the stock in a research note on Thursday, March 27th. Finally, Robert W. Baird upped their target price on shares of Elastic from $135.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. Seven 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $127.48.

Elastic Stock Up 0.4 %

Shares of ESTC stock traded up $0.31 during trading hours on Monday, reaching $83.23. 2,131,663 shares of the company's stock were exchanged, compared to its average volume of 1,405,052. Elastic has a 1 year low of $69.00 and a 1 year high of $123.96. 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 stock has a market cap of $8.69 billion, a PE ratio of 151.33 and a beta of 1.20. The stock's fifty day moving average price is $88.99 and its two-hundred day moving average price is $96.76.

Elastic (NYSE:ESTC - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.48). The company had revenue of $382.08 million during the quarter, compared to analysts' expectations of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. Research analysts predict that Elastic will post -0.77 EPS for the current 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.