Blue Zone Wealth Advisors LLC Buys 4,410 Shares of Elastic (NYSE:ESTC)

Blue Zone Wealth Advisors LLC grew its position in shares of Elastic (NYSE:ESTC - Free Report) by 9.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,384 shares of the company's stock after buying an additional 4,410 shares during the period. Blue Zone Wealth Advisors LLC's holdings in Elastic were worth $4,578,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of Elastic during the 4th quarter worth 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 increased its stake in Elastic by 793.3% during the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock worth $27,000 after acquiring an additional 238 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Elastic by 126.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock valued at $28,000 after acquiring an additional 158 shares during the period. Finally, Global Retirement Partners LLC increased its position in shares of Elastic by 1,065.2% in the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock worth $53,000 after purchasing an additional 490 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

Elastic Trading Down 1.1%

Shares of ESTC stock traded down $0.91 during mid-day trading on Tuesday, hitting $84.80. The company's stock had a trading volume of 1,987,474 shares, compared to its average volume of 1,501,117. The company has a market cap of $8.85 billion, a PE ratio of 154.19 and a beta of 1.07. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The company's fifty day simple moving average is $84.57 and its 200-day simple moving average is $97.34. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96.

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

Insider Activity at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 371,591 shares in the company, valued at approximately $38,140,100.24. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Shay Banon sold 5,117 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $444,718.47. Following the completion of the transaction, the chief technology officer now owns 4,560,291 shares in the company, valued at approximately $396,334,890.81. This represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,413 shares of company stock worth $4,720,774 in the last quarter. Company insiders own 15.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ESTC shares. Wall Street Zen raised shares of Elastic from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Guggenheim decreased their price objective on shares of Elastic from $136.00 to $107.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. TD Securities lowered their price objective on shares of Elastic from $125.00 to $105.00 and set a "hold" rating for the company in a research report on Wednesday, May 21st. UBS Group raised their target price on Elastic from $140.00 to $148.00 and gave the company a "buy" rating in a report on Friday, February 28th. Finally, Wells Fargo & Company decreased their price target on Elastic from $150.00 to $120.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. Eight equities 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $113.63.

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.