Lazard Asset Management LLC Purchases 5,694 Shares of Elastic (NYSE:ESTC)

Lazard Asset Management LLC lifted its stake in shares of Elastic (NYSE:ESTC - Free Report) by 32.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,198 shares of the company's stock after buying an additional 5,694 shares during the quarter. Lazard Asset Management LLC's holdings in Elastic were worth $2,296,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic during the fourth quarter worth approximately $25,000. SBI Securities Co. Ltd. acquired a new position in Elastic in the fourth quarter worth $25,000. Venturi Wealth Management LLC boosted its holdings in Elastic by 793.3% in the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock worth $27,000 after purchasing an additional 238 shares during the period. Smartleaf Asset Management LLC boosted its holdings 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 purchasing an additional 158 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in 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.

Insiders Place Their Bets

In related news, CRO Mark Eugene Dodds sold 2,755 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.77, for a total transaction of $250,071.35. Following the transaction, the executive now directly owns 96,484 shares of the company's stock, valued at $8,757,852.68. This represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total transaction 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 $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 198,304 shares of company stock valued at $20,847,452 in the last 90 days. Corporate insiders own 15.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ESTC. Piper Sandler lifted their price objective on shares of Elastic from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Morgan Stanley reduced their price target on shares of Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Wall Street Zen downgraded shares of Elastic from a "buy" rating to a "hold" rating in a report on Thursday. Canaccord Genuity Group lifted their price objective on shares of Elastic from $130.00 to $135.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, TD Securities cut their price objective on shares of Elastic from $125.00 to $105.00 and set a "hold" rating on the stock in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Elastic has an average rating of "Moderate Buy" and an average target price of $125.96.

Elastic Stock Performance

ESTC traded down $0.62 during trading on Friday, hitting $92.38. The stock had a trading volume of 1,141,728 shares, compared to its average volume of 1,459,735. The firm has a market cap of $9.65 billion, a price-to-earnings 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 company has a 50 day moving average price of $86.32 and a 200-day moving average price of $97.54. Elastic has a one year low of $69.00 and a one year high of $123.96.

Elastic (NYSE:ESTC - Get Free Report) last posted its quarterly earnings results 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 negative return on equity of 13.20% and a net margin of 4.39%. The business had revenue of $382.08 million for the quarter, compared to analyst estimates of $368.85 million. As a group, research analysts predict that Elastic will post -0.77 EPS for the current 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.