Jefferies Financial Group Inc. Invests $456,000 in Elastic (NYSE:ESTC)

Jefferies Financial Group Inc. purchased a new position in shares of Elastic (NYSE:ESTC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,600 shares of the company's stock, valued at approximately $456,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Geneos Wealth Management Inc. acquired a new position in shares of Elastic during the 4th quarter worth $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Elastic in the fourth quarter valued at approximately $25,000. Fourth Dimension Wealth LLC acquired a new stake in Elastic during the fourth quarter worth approximately $26,000. Venturi Wealth Management LLC raised its holdings in Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock valued at $27,000 after acquiring an additional 238 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Elastic by 126.4% in the fourth 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. Hedge funds and other institutional investors own 97.03% of the company's stock.

Elastic Trading Up 1.5%

NYSE ESTC traded up $1.29 during trading hours on Wednesday, hitting $85.00. The company's stock had a trading volume of 566,026 shares, compared to its average volume of 1,491,049. The stock has a fifty day moving average of $84.94 and a 200 day moving average of $97.61. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a twelve month low of $69.00 and a twelve month high of $123.96. The firm has a market capitalization of $8.88 billion, a P/E ratio of 154.55 and a beta of 1.20.

Elastic (NYSE:ESTC - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.10. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The firm had revenue of $388.43 million for the quarter, compared to analysts' expectations of $380.61 million. During the same quarter last year, the business earned $0.21 earnings per share. The company's revenue was up 15.9% compared to the same quarter last year. Equities research analysts forecast that Elastic will post -0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ESTC shares. Guggenheim dropped their price target on shares of Elastic from $136.00 to $107.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Canaccord Genuity Group lowered their price objective on Elastic from $135.00 to $110.00 and set a "buy" rating for the company in a report on Monday. Truist Financial reduced their target price on Elastic from $145.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Morgan Stanley dropped their price target on Elastic from $140.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, DA Davidson decreased their price objective on shares of Elastic from $115.00 to $75.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $113.63.

Insiders Place Their Bets

In other news, CEO Ashutosh Kulkarni sold 18,735 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.77, for a total value of $1,700,575.95. Following the transaction, the chief executive officer now directly owns 376,591 shares of the company's stock, valued at $34,183,165.07. This represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 in the company, valued at approximately $8,757,852.68. This represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,507 shares of company stock valued at $3,010,071 in the last three months. 15.90% of the stock is currently owned by corporate 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.