Infinitum Asset Management LLC Takes $6.94 Million Position in Elastic (NYSE:ESTC)

Infinitum Asset Management LLC acquired a new position in shares of Elastic (NYSE:ESTC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 70,000 shares of the company's stock, valued at approximately $6,936,000. Elastic makes up about 3.7% of Infinitum Asset Management LLC's investment portfolio, making the stock its 7th biggest position. Infinitum Asset Management LLC owned 0.07% of Elastic at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Elastic by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company's stock worth $926,607,000 after acquiring an additional 168,483 shares in the last quarter. Sylebra Capital LLC raised its stake in shares of Elastic by 62.6% during the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock valued at $451,950,000 after purchasing an additional 1,756,842 shares during the period. Pictet Asset Management Holding SA lifted its position in shares of Elastic by 15.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock worth $339,820,000 after purchasing an additional 462,974 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Elastic by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company's stock valued at $142,663,000 after purchasing an additional 45,076 shares during the period. Finally, Norges Bank acquired a new stake in Elastic during the 4th quarter valued at $102,485,000. Hedge funds and other institutional investors own 97.03% of the company's stock.

Elastic Price Performance

NYSE:ESTC traded up $0.01 during midday trading on Thursday, hitting $92.38. 3,293,960 shares of the stock were exchanged, compared to its average volume of 1,473,600. The company has a market capitalization of $9.65 billion, a price-to-earnings ratio of 167.96 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 one year low of $69.00 and a one year high of $123.96. The business has a 50-day moving average price of $86.13 and a two-hundred day moving average price of $97.67.

Elastic (NYSE:ESTC - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.42). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. Sell-side analysts predict that Elastic will post -0.77 EPS for the current year.

Insider Transactions at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 18,735 shares of Elastic stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.77, for a total value of $1,700,575.95. Following the transaction, the chief executive officer now owns 376,591 shares in the company, valued at approximately $34,183,165.07. The trade was a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Carolyn Herzog sold 3,334 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.78, for a total value of $302,660.52. Following the sale, the insider now directly owns 84,152 shares of the company's stock, valued at approximately $7,639,318.56. This represents a 3.81% decrease in their ownership of the stock. 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 quarter. Insiders own 15.90% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Oppenheimer decreased their price objective on shares of Elastic from $140.00 to $120.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Guggenheim raised their price target on shares of Elastic from $130.00 to $136.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Scotiabank lowered their price objective on Elastic from $140.00 to $137.00 and set a "sector outperform" rating for the company in a report on Thursday, March 27th. UBS Group lifted their price objective on shares of Elastic from $140.00 to $148.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Jefferies Financial Group lowered their target price on Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a report on Monday, April 7th. Nine research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Elastic presently has a consensus rating of "Moderate Buy" and an average target price of $125.75.

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.