Gotham Asset Management LLC Invests $500,000 in Elastic (NYSE:ESTC)

Gotham Asset Management LLC acquired a new position in Elastic (NYSE:ESTC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,045 shares of the company's stock, valued at approximately $500,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Slow Capital Inc. bought a new position in shares of Elastic during the fourth quarter worth $5,039,000. Wealth Effects LLC boosted its position in shares of Elastic by 25.4% during the fourth quarter. Wealth Effects LLC now owns 28,800 shares of the company's stock worth $2,854,000 after acquiring an additional 5,830 shares during the last quarter. Smith Group Asset Management LLC bought a new position in shares of Elastic during the fourth quarter worth $3,408,000. Nisa Investment Advisors LLC boosted its position in shares of Elastic by 3,442.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 14,525 shares of the company's stock worth $1,439,000 after acquiring an additional 14,115 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of Elastic by 187.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 9,073 shares of the company's stock worth $899,000 after acquiring an additional 5,919 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Elastic Price Performance

Elastic stock opened at $92.08 on Tuesday. The firm has a 50-day moving average price of $86.43 and a 200-day moving average price of $97.44. The firm has a market capitalization 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 released its 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). The firm had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. As a group, equities research analysts forecast that Elastic will post -0.77 EPS for the current year.

Wall Street Analysts Forecast Growth

ESTC has been the subject of a number of research reports. Scotiabank dropped their target price on shares of Elastic from $140.00 to $137.00 and set a "sector outperform" rating for the company in a research report on Thursday, March 27th. UBS Group upped their target price on shares of Elastic from $140.00 to $148.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Truist Financial lowered their price objective on shares of Elastic from $145.00 to $140.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Rosenblatt Securities reiterated a "buy" rating and set a $130.00 price objective on shares of Elastic in a research report on Tuesday, February 25th. Finally, Piper Sandler increased their price objective on shares of Elastic from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Seven 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, Elastic has an average rating of "Moderate Buy" and an average price target of $126.87.

Insider Buying and Selling

In related news, CRO Mark Eugene Dodds sold 2,755 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.77, for a total value of $250,071.35. Following the transaction, the executive now owns 96,484 shares of the company's stock, valued at $8,757,852.68. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the firm's stock in a transaction dated Tuesday, March 25th. The stock was 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 represents a 1.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 198,304 shares of company stock valued at $20,847,452 in the last 90 days. Company insiders own 15.90% of the company's stock.

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.

Want to see what other hedge funds are holding ESTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elastic (NYSE:ESTC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.