Castleark Management LLC purchased a new stake in shares of Elastic (NYSE:ESTC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,650 shares of the company's stock, valued at approximately $362,000.
Several other hedge funds have also added to or reduced their stakes in ESTC. PharVision Advisers LLC bought a new stake in shares of Elastic in the fourth quarter worth $315,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Elastic by 3.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 417,016 shares of the company's stock valued at $41,318,000 after purchasing an additional 13,417 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new stake in Elastic in the fourth quarter valued at approximately $1,420,000. Vident Advisory LLC bought a new stake in Elastic in the 4th quarter valued at $233,000. Finally, Sphera Management Technology Funds Ltd bought a new position in shares of Elastic in the fourth quarter valued at about $1,209,000. Institutional investors own 97.03% of the company's stock.
Insiders Place Their Bets
In related news, CEO Ashutosh Kulkarni sold 18,735 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.77, for a total transaction 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. The trade was a 4.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Shay Banon sold 2,683 shares of Elastic stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.78, for a total transaction of $243,562.74. Following the completion of the transaction, the chief technology officer now directly owns 4,535,456 shares in the company, valued at $411,728,695.68. This represents a 0.06% 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 valued at $20,847,452 over the last ninety days. 15.90% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of analysts have issued reports on ESTC shares. Robert W. Baird boosted their price objective on shares of Elastic from $135.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, February 28th. UBS Group lifted their price objective on Elastic from $140.00 to $148.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. TD Securities dropped their price target on shares of Elastic from $125.00 to $105.00 and set a "hold" rating on the stock in a research report on Wednesday, May 21st. 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 research report on Monday, April 14th. Finally, Rosenblatt Securities restated a "buy" rating and set a $130.00 price target on shares of Elastic in a report on Tuesday, February 25th. Nine equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $125.96.
Read Our Latest Stock Analysis on ESTC
Elastic Stock Up 1.2%
Shares of Elastic stock traded up $1.15 during midday trading on Tuesday, hitting $93.40. The company had a trading volume of 782,921 shares, compared to its average volume of 1,459,664. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96. 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 has a 50 day moving average of $86.26 and a 200 day moving average of $97.74. The stock has a market capitalization of $9.75 billion, a P/E ratio of 169.77 and a beta of 1.20.
Elastic (NYSE:ESTC - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) 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 firm had revenue of $382.08 million for the quarter, compared to analysts' expectations of $368.85 million. On average, equities analysts predict that Elastic will post -0.77 earnings per share for the current fiscal year.
Elastic Company Profile
(
Free Report)
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.
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