Barclays PLC Sells 40,944 Shares of Elastic (NYSE:ESTC)

Barclays PLC decreased its holdings in Elastic (NYSE:ESTC - Free Report) by 26.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,211 shares of the company's stock after selling 40,944 shares during the period. Barclays PLC owned 0.11% of Elastic worth $11,118,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Geneos Wealth Management Inc. bought a new stake in shares of Elastic during the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. bought a new stake in Elastic during the 4th quarter worth approximately $25,000. Venturi Wealth Management LLC lifted its stake in Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock worth $27,000 after purchasing an additional 238 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Elastic by 126.4% in the 4th 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 period. Finally, Global Retirement Partners LLC grew its position 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 other news, CEO Ashutosh Kulkarni sold 18,735 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the sale, the chief executive officer now owns 376,591 shares in the company, valued at approximately $34,183,165.07. The trade was a 4.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Shay Banon sold 25,668 shares of the stock in a transaction dated Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the completion of the transaction, the chief technology officer now owns 2,408,541 shares of the company's stock, valued at approximately $271,033,118.73. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 198,304 shares of company stock valued at $20,847,452. Corporate insiders own 15.90% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on ESTC. DA Davidson dropped their price objective on Elastic from $115.00 to $75.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Robert W. Baird boosted their price objective on Elastic from $135.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. UBS Group upped their price objective on shares of Elastic from $140.00 to $148.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Piper Sandler lifted their target price 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. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $130.00 price target on shares of Elastic in a report on Tuesday, February 25th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Elastic currently has an average rating of "Moderate Buy" and an average price target of $127.48.

Elastic Trading Up 2.2 %

NYSE:ESTC traded up $1.79 during mid-day trading on Friday, reaching $83.91. 1,812,816 shares of the company's stock traded hands, compared to its average volume of 1,384,039. The company has a 50 day moving average price of $91.59 and a 200-day moving average price of $96.44. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 152.56 and a beta of 1.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. Elastic has a 12-month low of $69.00 and a 12-month high of $123.96.

Elastic (NYSE:ESTC - Get Free Report) last posted 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). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The business had revenue of $382.08 million for the quarter, compared to analysts' expectations of $368.85 million. On average, sell-side analysts predict that Elastic will post -0.77 earnings per share for the current year.

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.