Snowden Capital Advisors LLC Trims Stake in Elastic (NYSE:ESTC)

Snowden Capital Advisors LLC cut its stake in Elastic (NYSE:ESTC - Free Report) by 34.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,949 shares of the company's stock after selling 4,702 shares during the period. Snowden Capital Advisors LLC's holdings in Elastic were worth $887,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Sigma Planning Corp lifted its stake in shares of Elastic by 3.7% in the 4th quarter. Sigma Planning Corp now owns 3,929 shares of the company's stock valued at $389,000 after purchasing an additional 139 shares during the period. CIBC Asset Management Inc raised its holdings in Elastic by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,053 shares of the company's stock worth $302,000 after purchasing an additional 151 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock valued at $28,000 after buying an additional 158 shares during the period. Resolute Advisors LLC lifted its position in Elastic by 7.1% during the fourth quarter. Resolute Advisors LLC now owns 3,255 shares of the company's stock valued at $323,000 after buying an additional 217 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of Elastic by 0.7% during the 4th quarter. Van ECK Associates Corp now owns 32,954 shares of the company's stock valued at $3,265,000 after buying an additional 220 shares in the last quarter. 97.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ESTC shares. Scotiabank lowered their price target 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. DA Davidson lowered their target price on shares of Elastic from $115.00 to $75.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Guggenheim upped their price target on Elastic from $130.00 to $136.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Robert W. Baird raised 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, Wells Fargo & Company boosted their target price on Elastic from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $126.87.

Elastic Stock Performance

ESTC stock opened at $92.08 on Tuesday. 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 has a 1 year low of $69.00 and a 1 year high of $123.96. The company has a market cap of $9.61 billion, a P/E ratio of 167.42 and a beta of 1.20. The stock's fifty day moving average price is $86.43 and its 200-day moving average price is $97.44.

Elastic (NYSE:ESTC - Get Free Report) last announced 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 analysts' expectations of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. On average, equities analysts forecast that Elastic will post -0.77 earnings per share for the current year.

Insider Activity at Elastic

In related news, CEO Ashutosh Kulkarni sold 18,735 shares of Elastic stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the transaction, the chief executive officer now directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Shay Banon sold 25,668 shares of the business's stock in a transaction dated 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 sale, the chief technology officer now directly owns 2,408,541 shares of the company's stock, valued at $271,033,118.73. This represents a 1.05% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,304 shares of company stock worth $20,847,452. 15.90% of the stock is owned by company 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.

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