Elastic (NYSE:ESTC) Shares Sold by Sherbrooke Park Advisers LLC

Sherbrooke Park Advisers LLC reduced its stake in Elastic (NYSE:ESTC - Free Report) by 31.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,299 shares of the company's stock after selling 4,297 shares during the quarter. Sherbrooke Park Advisers LLC's holdings in Elastic were worth $921,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Slow Capital Inc. purchased a new position in shares of Elastic during the fourth quarter valued at about $5,039,000. Wealth Effects LLC grew its position in shares of Elastic by 25.4% during the fourth quarter. Wealth Effects LLC now owns 28,800 shares of the company's stock valued at $2,854,000 after purchasing an additional 5,830 shares in the last quarter. Smith Group Asset Management LLC purchased a new position in shares of Elastic during the fourth quarter valued at about $3,408,000. Nisa Investment Advisors LLC grew its position in shares of Elastic by 3,442.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 14,525 shares of the company's stock valued at $1,439,000 after purchasing an additional 14,115 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of Elastic by 187.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 9,073 shares of the company's stock valued at $899,000 after purchasing an additional 5,919 shares in the last quarter. 97.03% of the stock is owned by institutional investors.

Insider Activity

In other news, CRO Mark Eugene Dodds sold 2,755 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $250,071.35. Following the completion of the sale, the executive now owns 96,484 shares in the company, valued at approximately $8,757,852.68. This represents a 2.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Shay Banon sold 140,129 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total value of $14,948,961.72. Following the sale, the chief technology officer now owns 2,254,978 shares of the company's stock, valued at approximately $240,561,053.04. This represents a 5.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 198,304 shares of company stock valued at $20,847,452. Corporate insiders own 15.90% of the company's stock.

Elastic Trading Down 0.3%

Shares of Elastic stock traded down $0.24 on Monday, hitting $92.08. 2,191,446 shares of the company traded hands, compared to its average volume of 1,442,578. The stock's 50 day moving average price is $86.43 and its 200-day moving average price is $97.44. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. The company has a market cap of $9.61 billion, a PE ratio of 167.42 and a beta of 1.20.

Elastic (NYSE:ESTC - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share 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 company had revenue of $382.08 million for the quarter, compared to the consensus estimate of $368.85 million. Equities research analysts predict that Elastic will post -0.77 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on ESTC shares. Truist Financial dropped their price target on Elastic from $145.00 to $140.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Canaccord Genuity Group lifted their price target on Elastic from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Jefferies Financial Group dropped their price target on Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a research report on Monday, April 7th. DA Davidson dropped their price target on Elastic from $115.00 to $75.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Piper Sandler lifted their price target on Elastic from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Seven equities 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's stock. According to MarketBeat.com, Elastic has a consensus rating of "Moderate Buy" and a consensus price target of $126.87.

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.