Two Sigma Advisers LP Grows Holdings in Elastic (NYSE:ESTC)

Two Sigma Advisers LP increased its holdings in shares of Elastic (NYSE:ESTC - Free Report) by 985.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 346,400 shares of the company's stock after acquiring an additional 314,500 shares during the quarter. Two Sigma Advisers LP owned about 0.33% of Elastic worth $34,321,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ESTC. Vanguard Group Inc. boosted its position in Elastic by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company's stock worth $926,607,000 after purchasing an additional 168,483 shares during the period. Pictet Asset Management Holding SA raised its position in shares of Elastic by 15.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock valued at $339,820,000 after purchasing an additional 462,974 shares during the period. Geode Capital Management LLC lifted its stake in shares of Elastic by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company's stock worth $142,663,000 after buying an additional 45,076 shares during the last quarter. Norges Bank bought a new stake in shares of Elastic during the 4th quarter worth about $102,485,000. Finally, Soma Equity Partners LP grew its stake in Elastic by 61.5% in the 4th quarter. Soma Equity Partners LP now owns 989,349 shares of the company's stock valued at $98,025,000 after buying an additional 376,660 shares during the last quarter. Institutional investors own 97.03% of the company's stock.

Insider Buying and Selling at Elastic

In other news, CEO Ashutosh Kulkarni sold 5,000 shares of the 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 directly owns 371,591 shares in the company, valued at approximately $38,140,100.24. This represents a 1.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Shay Banon sold 25,668 shares of Elastic stock in a transaction that occurred on Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the sale, the chief technology officer now owns 2,408,541 shares in the company, valued at approximately $271,033,118.73. This represents a 1.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 198,304 shares of company stock worth $20,847,452 over the last 90 days. Insiders own 15.90% of the company's stock.

Elastic Price Performance

NYSE:ESTC traded down $0.62 during mid-day trading on Monday, reaching $92.38. The stock had a trading volume of 1,141,728 shares, compared to its average volume of 1,462,129. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96. The stock has a market capitalization of $9.65 billion, a PE ratio of 167.96 and a beta of 1.20. 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 stock has a 50-day simple moving average of $86.32 and a two-hundred day simple moving average of $97.70.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.48). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The business had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. On average, equities analysts anticipate that Elastic will post -0.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

ESTC has been the topic of several research analyst reports. Piper Sandler increased their price target on shares of Elastic from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, February 28th. DA Davidson decreased their target price on Elastic from $115.00 to $75.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. UBS Group lifted their price target on Elastic from $140.00 to $148.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Morgan Stanley decreased their price objective on Elastic from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Wells Fargo & Company increased their price objective on Elastic from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Nine 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $125.96.

Elastic Company 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.