Elastic (NYSE:ESTC) Shares Purchased by Tairen Capital Ltd

Tairen Capital Ltd raised its stake in shares of Elastic (NYSE:ESTC - Free Report) by 185.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,000 shares of the company's stock after buying an additional 26,000 shares during the quarter. Tairen Capital Ltd's holdings in Elastic were worth $3,963,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Sigma Planning Corp grew its holdings in Elastic by 3.7% during the 4th quarter. Sigma Planning Corp now owns 3,929 shares of the company's stock valued at $389,000 after buying an additional 139 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Elastic by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,053 shares of the company's stock valued at $302,000 after buying an additional 151 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings 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 purchasing an additional 158 shares during the last quarter. Resolute Advisors LLC boosted its holdings 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 purchasing an additional 217 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Elastic by 0.7% during the fourth quarter. Van ECK Associates Corp now owns 32,954 shares of the company's stock worth $3,265,000 after purchasing an additional 220 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Rosenblatt Securities restated a "buy" rating and set a $130.00 price objective on shares of Elastic in a report on Tuesday, February 25th. Scotiabank decreased their price objective on Elastic from $140.00 to $137.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 27th. Truist Financial decreased their price objective on Elastic from $145.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Guggenheim raised their price objective on Elastic from $130.00 to $136.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Piper Sandler raised their price objective on Elastic from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Elastic presently has a consensus rating of "Moderate Buy" and an average price target of $126.87.

Insider Activity

In other news, CRO Mark Eugene Dodds sold 2,755 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $250,071.35. Following the completion of the sale, the executive now directly owns 96,484 shares in the company, valued at $8,757,852.68. This trade 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 is available at this hyperlink. Also, CTO Shay Banon sold 25,668 shares of Elastic stock in a transaction dated Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total value of $2,888,420.04. Following the completion of the transaction, the chief technology officer now owns 2,408,541 shares of the company's stock, valued at $271,033,118.73. This trade represents a 1.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 198,304 shares of company stock worth $20,847,452 over the last ninety days. Corporate insiders own 15.90% of the company's stock.

Elastic Trading Up 0.1%

NYSE:ESTC opened at $92.25 on Friday. The business's 50-day moving average is $86.56 and its two-hundred day moving average is $97.25. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96. The firm has a market capitalization of $9.63 billion, a PE ratio of 167.73 and a beta of 1.20.

Elastic (NYSE:ESTC - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) 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 company had revenue of $382.08 million during the quarter, compared to analysts' expectations of $368.85 million. Research analysts predict that Elastic will post -0.77 earnings per share for the current fiscal year.

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.

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