Ensign Peak Advisors Inc Sells 13,770 Shares of Elastic (NYSE:ESTC)

Ensign Peak Advisors Inc cut its position in shares of Elastic (NYSE:ESTC - Free Report) by 29.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,886 shares of the company's stock after selling 13,770 shares during the quarter. Ensign Peak Advisors Inc's holdings in Elastic were worth $3,258,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. bought a new position in shares of Elastic during the fourth quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new stake in Elastic in the fourth quarter worth about $25,000. Venturi Wealth Management LLC lifted its holdings in Elastic by 793.3% in the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock worth $27,000 after purchasing an additional 238 shares during the period. Smartleaf Asset Management LLC grew its position 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 buying an additional 158 shares in the last quarter. Finally, Global Retirement Partners LLC raised 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 worth $53,000 after buying an additional 490 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

Elastic Stock Up 1.6%

Shares of NYSE ESTC traded up $1.48 during trading hours on Tuesday, hitting $93.77. The stock had a trading volume of 568,476 shares, compared to its average volume of 1,439,362. The firm's 50-day moving average price is $86.43 and its two-hundred day moving average price is $97.44. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. The company has a market capitalization of $9.79 billion, a P/E ratio of 170.40 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 posted its earnings results 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 business had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. Analysts anticipate that Elastic will post -0.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on ESTC shares. Jefferies Financial Group dropped their target price on Elastic from $125.00 to $110.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Canaccord Genuity Group upped their price target on shares of Elastic from $130.00 to $135.00 and gave the company a "buy" rating in a report on Friday, February 28th. Morgan Stanley cut their target price on shares of Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Scotiabank cut their price objective on Elastic from $140.00 to $137.00 and set a "sector outperform" rating for the company in a research report on Thursday, March 27th. Finally, DA Davidson reduced their target price on Elastic from $115.00 to $75.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.87.

Insiders Place Their Bets

In other news, CEO Ashutosh Kulkarni sold 18,735 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 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 trade represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 25,668 shares of the business's stock in a transaction dated Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total value of $2,888,420.04. Following the transaction, the chief technology officer now directly owns 2,408,541 shares of the company's stock, valued at $271,033,118.73. This represents a 1.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 198,304 shares of company stock valued at $20,847,452 over the last three months. 15.90% of the stock is currently owned by insiders.

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.