Elastic (NYSE:ESTC) Shares Sold by Washington Harbour Partners LP

Washington Harbour Partners LP lowered its stake in shares of Elastic (NYSE:ESTC - Free Report) by 35.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,900 shares of the company's stock after selling 10,200 shares during the period. Elastic comprises 3.5% of Washington Harbour Partners LP's portfolio, making the stock its 15th largest holding. Washington Harbour Partners LP's holdings in Elastic were worth $1,873,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Elastic during the 4th quarter worth approximately $102,485,000. Arrowstreet Capital Limited Partnership boosted its position in Elastic by 5,972.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company's stock worth $73,751,000 after purchasing an additional 732,100 shares in the last quarter. Marshall Wace LLP grew its holdings in Elastic by 554.9% in the fourth quarter. Marshall Wace LLP now owns 641,041 shares of the company's stock valued at $63,514,000 after purchasing an additional 543,155 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Elastic in the fourth quarter valued at $46,031,000. Finally, Pictet Asset Management Holding SA increased 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 buying an additional 462,974 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. DA Davidson lowered their price objective on shares of Elastic from $115.00 to $75.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Jefferies Financial Group reduced their target price on Elastic from $125.00 to $110.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Morgan Stanley dropped their price target on Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company boosted their price target on Elastic from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Finally, UBS Group lifted their price objective on Elastic from $140.00 to $148.00 and gave the stock a "buy" rating in a research 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 given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $126.87.

Insider Activity

In other news, CEO Ashutosh Kulkarni sold 5,000 shares of Elastic stock in a transaction that occurred 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 sale, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Mark Eugene Dodds sold 2,755 shares of the business's stock in a transaction on Monday, March 10th. The stock was 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 in the company, valued at approximately $8,757,852.68. The trade was a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 198,304 shares of company stock valued at $20,847,452. Company insiders own 15.90% of the company's stock.

Elastic Price Performance

ESTC stock opened at $92.08 on Tuesday. The stock has a 50-day moving average price of $86.43 and a two-hundred day moving average price of $97.44. The company has a market cap of $9.61 billion, a PE ratio of 167.42 and a beta of 1.20. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a 12-month low of $69.00 and a 12-month high of $123.96.

Elastic (NYSE:ESTC - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share (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 firm had revenue of $382.08 million for the quarter, compared to analysts' expectations of $368.85 million. As a group, research analysts predict that Elastic will post -0.77 EPS for the current 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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