Ameriprise Financial Inc. Increases Stock Position in Elastic (NYSE:ESTC)

Ameriprise Financial Inc. lifted its holdings in Elastic (NYSE:ESTC - Free Report) by 81.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,088 shares of the company's stock after purchasing an additional 13,466 shares during the quarter. Ameriprise Financial Inc.'s holdings in Elastic were worth $2,981,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in shares of Elastic in the 4th quarter worth $25,000. Geneos Wealth Management Inc. purchased a new stake in shares of Elastic during the 4th quarter valued at about $25,000. Venturi Wealth Management LLC lifted its holdings in shares of 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. Smartleaf Asset Management LLC grew its position in Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock worth $28,000 after acquiring an additional 158 shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in Elastic by 1,065.2% during the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock worth $53,000 after acquiring an additional 490 shares during the last quarter. Institutional investors own 97.03% of the company's stock.

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 owns 371,591 shares in the company, valued at $38,140,100.24. This trade represents a 1.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Shay Banon sold 140,129 shares of Elastic stock in a transaction dated Tuesday, March 4th. The stock was 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 directly 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 ninety days, insiders sold 198,304 shares of company stock worth $20,847,452. 15.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on ESTC. Royal Bank of Canada dropped their target price on Elastic from $140.00 to $119.00 and set an "outperform" rating for the company in a report on Monday, May 19th. DA Davidson cut their price objective on shares of Elastic from $115.00 to $75.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Robert W. Baird raised their price objective on shares of Elastic from $135.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. Oppenheimer cut their target price on Elastic from $140.00 to $120.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company raised their price target on Elastic from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Nine investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $125.75.

Elastic Stock Up 0.0%

Shares of NYSE:ESTC traded up $0.01 during trading on Thursday, reaching $92.38. The stock had a trading volume of 3,293,960 shares, compared to its average volume of 1,473,685. The firm's 50-day simple moving average is $85.94 and its 200 day simple moving average is $97.68. 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 one year low of $69.00 and a one year high of $123.96. The company has a market capitalization of $9.65 billion, a P/E ratio of 167.96 and a beta of 1.20.

Elastic (NYSE:ESTC - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.10. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. During the same quarter in the previous year, the business earned $0.21 earnings per share. Elastic's quarterly revenue was up 15.9% on a year-over-year basis. As a group, research analysts expect that Elastic will post -0.77 EPS for the current fiscal year.

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.