Quantinno Capital Management LP Boosts Stake in Elastic (NYSE:ESTC)

Quantinno Capital Management LP lifted its stake in Elastic (NYSE:ESTC - Free Report) by 52.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,960 shares of the company's stock after buying an additional 7,894 shares during the period. Quantinno Capital Management LP's holdings in Elastic were worth $2,275,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ESTC. Barclays PLC increased its holdings in shares of Elastic by 56.2% in the third quarter. Barclays PLC now owns 153,155 shares of the company's stock worth $11,757,000 after buying an additional 55,084 shares during the period. Nisa Investment Advisors LLC increased its holdings in Elastic by 3,442.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 14,525 shares of the company's stock valued at $1,439,000 after purchasing an additional 14,115 shares during the period. SG Americas Securities LLC purchased a new position in Elastic during the 4th quarter valued at about $7,293,000. Janney Montgomery Scott LLC purchased a new position in Elastic during the 4th quarter valued at about $202,000. Finally, Geneos Wealth Management Inc. purchased a new position in Elastic during the 4th quarter valued at about $25,000. Hedge funds and other institutional investors own 97.03% of the company's stock.

Elastic Stock Down 0.7%

ESTC stock traded down $0.62 during midday trading on Friday, hitting $92.38. The company's stock had a trading volume of 1,141,728 shares, compared to its average volume of 1,462,129. The company has a market cap of $9.65 billion, a PE ratio of 167.96 and a beta of 1.20. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm's 50-day moving average is $86.32 and its 200-day moving average is $97.62.

Elastic (NYSE:ESTC - Get Free Report) last released its quarterly earnings data 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 business had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. On average, equities research analysts forecast that Elastic will post -0.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ESTC shares. Wall Street Zen downgraded Elastic from a "buy" rating to a "hold" rating in a report on Thursday. Guggenheim boosted their price target on Elastic from $130.00 to $136.00 and gave the company a "buy" rating in a report on Friday, February 28th. TD Securities reduced their price target on Elastic from $125.00 to $105.00 and set a "hold" rating on the stock in a report on Wednesday. Robert W. Baird lifted their price objective on Elastic from $135.00 to $140.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. Finally, UBS Group lifted their price objective on Elastic from $140.00 to $148.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Nine equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Elastic presently has a consensus rating of "Moderate Buy" and an average target price of $125.96.

Insider Activity at Elastic

In other news, insider Carolyn Herzog sold 3,334 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.78, for a total transaction of $302,660.52. Following the transaction, the insider now directly owns 84,152 shares of the company's stock, valued at $7,639,318.56. This represents a 3.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Shay Banon sold 25,668 shares of the 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 transaction, the chief technology officer now directly 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. In the last three months, insiders have sold 198,304 shares of company stock valued at $20,847,452. 15.90% of the stock is owned by corporate insiders.

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.