ProShare Advisors LLC Purchases Shares of 3,028 Elastic (NYSE:ESTC)

ProShare Advisors LLC bought a new stake in Elastic (NYSE:ESTC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,028 shares of the company's stock, valued at approximately $300,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new position in shares of Elastic during the 4th quarter worth about $25,000. SBI Securities Co. Ltd. purchased a new position in shares of Elastic during the 4th quarter worth about $25,000. Venturi Wealth Management LLC lifted its holdings in shares of Elastic by 793.3% during the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock worth $27,000 after acquiring an additional 238 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Elastic by 126.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock worth $28,000 after acquiring an additional 158 shares during the period. Finally, Global Retirement Partners LLC lifted its holdings in shares of Elastic by 1,065.2% during the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock worth $53,000 after acquiring an additional 490 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Elastic news, CEO Ashutosh Kulkarni sold 18,735 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $1,700,575.95. Following the sale, the chief executive officer now directly owns 376,591 shares in the company, valued at approximately $34,183,165.07. This trade represents 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 link. Also, CTO Shay Banon sold 25,668 shares of the firm's stock in a transaction on Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total value of $2,888,420.04. Following the completion of the sale, the chief technology officer now owns 2,408,541 shares in the company, valued at $271,033,118.73. The trade was a 1.05% 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 worth $20,847,452 over the last ninety days. 15.90% of the stock is owned by insiders.

Elastic Stock Performance

ESTC traded down $11.08 during trading hours on Friday, hitting $80.95. 8,817,353 shares of the stock were exchanged, compared to its average volume of 1,484,527. The stock has a 50-day simple moving average of $85.51 and a 200-day simple moving average of $97.62. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96. The stock has a market cap of $8.45 billion, a price-to-earnings ratio of 147.18 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.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.10. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The firm had revenue of $388.43 million for the quarter, compared to analysts' expectations of $380.61 million. During the same period last year, the business posted $0.21 earnings per share. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. Analysts anticipate that Elastic will post -0.77 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. TD Securities cut their price target on shares of Elastic from $125.00 to $105.00 and set a "hold" rating on the stock in a report on Wednesday, May 21st. Oppenheimer cut their price target on shares of Elastic from $140.00 to $120.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Canaccord Genuity Group raised their price target on shares of Elastic from $130.00 to $135.00 and gave the company a "buy" rating in a report on Friday, February 28th. Royal Bank of Canada cut their price target on shares of Elastic from $119.00 to $115.00 and set an "outperform" rating on the stock in a report on Friday. Finally, Stifel Nicolaus cut their price target on shares of Elastic from $140.00 to $112.00 and set a "buy" rating on the stock in a report on Friday. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Elastic currently has a consensus rating of "Moderate Buy" and a consensus price target of $114.67.

About Elastic

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.