Boothbay Fund Management LLC Sells 38,455 Shares of Elastic (NYSE:ESTC)

Boothbay Fund Management LLC cut its stake in shares of Elastic (NYSE:ESTC - Free Report) by 93.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,567 shares of the company's stock after selling 38,455 shares during the period. Boothbay Fund Management LLC's holdings in Elastic were worth $254,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of Elastic by 56.2% in the 3rd quarter. Barclays PLC now owns 153,155 shares of the company's stock valued at $11,757,000 after acquiring an additional 55,084 shares during the last quarter. Virtu Financial LLC grew its position in shares of Elastic by 131.9% in the 3rd quarter. Virtu Financial LLC now owns 4,338 shares of the company's stock worth $333,000 after buying an additional 2,467 shares during the period. Tidal Investments LLC lifted its holdings in shares of Elastic by 239.1% during the third quarter. Tidal Investments LLC now owns 9,807 shares of the company's stock valued at $753,000 after purchasing an additional 6,915 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Elastic by 256.3% in the third quarter. Franklin Resources Inc. now owns 341,524 shares of the company's stock worth $28,387,000 after acquiring an additional 245,680 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new stake in Elastic during the 4th quarter valued at about $275,000. 97.03% of the stock is owned by institutional investors.

Elastic Price Performance

Shares of ESTC stock traded up $0.31 during midday trading on Monday, reaching $83.23. 2,131,663 shares of the company were exchanged, compared to its average volume of 1,405,052. 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 company has a market cap of $8.69 billion, a P/E ratio of 151.33 and a beta of 1.20. The company's 50 day moving average price is $88.99 and its two-hundred day moving average price is $96.76. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96.

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 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 company had revenue of $382.08 million for the quarter, compared to analyst estimates of $368.85 million. On average, sell-side analysts expect that Elastic will post -0.77 earnings per share for the current year.

Analysts Set New Price Targets

ESTC has been the subject of a number of research reports. Jefferies Financial Group reduced their price objective on Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $130.00 price objective on shares of Elastic in a research note on Tuesday, February 25th. Scotiabank reduced their price target on shares of Elastic from $140.00 to $137.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 27th. Robert W. Baird increased their price objective on shares of Elastic from $135.00 to $140.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. Finally, DA Davidson cut their target price on Elastic from $115.00 to $75.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Seven 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 company's stock. According to data from MarketBeat.com, Elastic presently has a consensus rating of "Moderate Buy" and an average target price of $127.48.

Insider Buying and Selling at Elastic

In related news, CEO Ashutosh Kulkarni sold 5,000 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total value of $513,200.00. Following the completion of the transaction, the chief executive officer now directly owns 371,591 shares of the company's stock, valued at $38,140,100.24. This trade represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Mark Eugene Dodds sold 2,755 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $250,071.35. Following the transaction, the executive now directly owns 96,484 shares of the company's stock, valued at $8,757,852.68. The trade was a 2.78 % 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 ninety days. 15.90% of the stock is currently owned by insiders.

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.