3,183 Shares in Elastic (NYSE:ESTC) Purchased by PharVision Advisers LLC

PharVision Advisers LLC bought a new position in Elastic (NYSE:ESTC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,183 shares of the company's stock, valued at approximately $315,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ESTC. Sigma Planning Corp lifted its stake in Elastic by 3.7% during the fourth quarter. Sigma Planning Corp now owns 3,929 shares of the company's stock worth $389,000 after purchasing an additional 139 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Elastic by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,053 shares of the company's stock valued at $302,000 after buying an additional 151 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock worth $28,000 after buying an additional 158 shares during the last quarter. Resolute Advisors LLC lifted its position in Elastic by 7.1% in the 4th quarter. Resolute Advisors LLC now owns 3,255 shares of the company's stock worth $323,000 after buying an additional 217 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Elastic by 0.7% in the fourth quarter. Van ECK Associates Corp now owns 32,954 shares of the company's stock worth $3,265,000 after buying an additional 220 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Elastic Trading Up 1.1%

Shares of Elastic stock traded up $1.05 during midday trading on Tuesday, reaching $93.30. 616,678 shares of the company's stock traded hands, compared to its average volume of 1,458,967. The stock has a 50 day moving average of $86.26 and a 200-day moving average of $97.74. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96. The company has a market cap of $9.74 billion, a PE ratio of 170.05 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 issued its quarterly earnings data 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). 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 analysts' expectations of $368.85 million. As a group, equities analysts expect that Elastic will post -0.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ESTC has been the topic of several research reports. Scotiabank decreased their price target 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. Morgan Stanley reduced their target price on shares of Elastic from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Truist Financial decreased their target price on shares of Elastic from $145.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Wells Fargo & Company boosted their price target on shares of Elastic from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $130.00 price objective on shares of Elastic in a research note on Tuesday, February 25th. Nine research 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $125.96.

Insider Activity at Elastic

In other news, CEO Ashutosh Kulkarni sold 18,735 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 376,591 shares in the company, valued at $34,183,165.07. This trade represents a 4.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Shay Banon sold 25,668 shares of Elastic stock in a transaction that occurred on Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total value of $2,888,420.04. Following the sale, the chief technology officer now owns 2,408,541 shares in the company, valued at $271,033,118.73. This represents a 1.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 198,304 shares of company stock worth $20,847,452 over the last 90 days. 15.90% of the stock is owned by company 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.