Blue Zone Wealth Advisors LLC Has $4.58 Million Stake in Elastic (NYSE:ESTC)

Blue Zone Wealth Advisors LLC boosted its stake in Elastic (NYSE:ESTC - Free Report) by 9.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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.

Several other institutional investors and hedge funds have also recently bought and sold shares of ESTC. Sigma Planning Corp increased its stake in shares of 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 buying an additional 139 shares during the period. Parallel Advisors LLC increased its stake in shares of Elastic by 4.5% during the first quarter. Parallel Advisors LLC now owns 3,396 shares of the company's stock worth $303,000 after buying an additional 145 shares during the period. CIBC Asset Management Inc increased its stake in shares of Elastic by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,053 shares of the company's stock worth $302,000 after buying an additional 151 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Elastic by 126.4% during the fourth 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 period. Finally, Resolute Advisors LLC increased its stake in shares of Elastic by 7.1% during the fourth 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 period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Elastic Price Performance

Shares of Elastic stock traded up $0.08 during midday trading on Friday, hitting $86.37. 1,846,035 shares of the company were exchanged, compared to its average volume of 1,496,486. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a market cap of $9.02 billion, a P/E ratio of 157.04 and a beta of 1.07. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. The firm has a 50 day simple moving average of $84.64 and a 200-day simple moving average of $97.59.

Elastic (NYSE:ESTC - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $380.61 million. During the same period last year, the firm posted $0.21 EPS. The business's revenue was up 15.9% on a year-over-year basis. Research analysts forecast that Elastic will post -0.77 earnings per share for the current year.

Analysts Set New Price Targets

ESTC has been the subject of a number of research analyst reports. Rosenblatt Securities lowered their price target on Elastic from $140.00 to $130.00 and set a "buy" rating for the company in a report on Friday, May 30th. Jefferies Financial Group lowered their price target on Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a report on Monday, April 7th. Guggenheim lowered their price target on Elastic from $136.00 to $107.00 and set a "buy" rating for the company in a report on Friday, May 30th. Barclays decreased their price objective on Elastic from $124.00 to $105.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Finally, Canaccord Genuity Group decreased their price objective on Elastic from $135.00 to $110.00 and set a "buy" rating for the company in a report on Monday, June 2nd. Seven investment 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $113.63.

Insider Buying and Selling

In other Elastic news, CTO Shay Banon sold 2,683 shares of Elastic stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.78, for a total transaction of $243,562.74. Following the transaction, the chief technology officer now directly owns 4,535,456 shares in the company, valued at approximately $411,728,695.68. The trade was a 0.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total value of $513,200.00. Following the completion of the sale, the chief executive officer now owns 371,591 shares in the company, valued at approximately $38,140,100.24. This trade represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,507 shares of company stock valued at $3,010,071 over the last three months. Company insiders own 15.90% of the company's stock.

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.