Sphera Management Technology Funds Ltd Makes New $1.21 Million Investment in Elastic (NYSE:ESTC)

Sphera Management Technology Funds Ltd bought a new stake in Elastic (NYSE:ESTC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,200 shares of the company's stock, valued at approximately $1,209,000.

A number of other institutional investors and hedge funds have also modified their holdings of ESTC. Vanguard Group Inc. boosted its position in Elastic by 1.8% during the fourth 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 during the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Elastic by 15.6% during the 4th 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 during the last quarter. Geode Capital Management LLC grew its position 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 in the last quarter. Norges Bank acquired a new stake in shares of Elastic in the fourth quarter valued at approximately $102,485,000. Finally, Soma Equity Partners LP increased its holdings in shares of Elastic by 61.5% in the fourth quarter. Soma Equity Partners LP now owns 989,349 shares of the company's stock valued at $98,025,000 after purchasing an additional 376,660 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Elastic Trading Up 0.1%

NYSE ESTC opened at $92.25 on Monday. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. The firm has a 50 day moving average of $86.56 and a two-hundred day moving average of $97.37. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $9.63 billion, a PE ratio of 167.73 and a beta of 1.20.

Elastic (NYSE:ESTC - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.48). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The firm had revenue of $382.08 million for the quarter, compared to analyst estimates of $368.85 million. As a group, research analysts expect that Elastic will post -0.77 EPS for the current fiscal year.

Insider Activity at Elastic

In other news, CEO Ashutosh Kulkarni sold 5,000 shares of the business's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total value of $513,200.00. Following the completion of the sale, the chief executive officer now directly owns 371,591 shares of the company's stock, valued at approximately $38,140,100.24. The trade was a 1.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Shay Banon sold 25,668 shares of the company'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 completion of the sale, the chief technology officer now directly owns 2,408,541 shares of the company's stock, valued at approximately $271,033,118.73. This trade represents 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 valued at $20,847,452 in the last ninety days. Insiders own 15.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ESTC shares. Canaccord Genuity Group upped their target price on Elastic from $130.00 to $135.00 and gave the company a "buy" rating in a report on Friday, February 28th. Rosenblatt Securities reaffirmed a "buy" rating and set a $130.00 target price on shares of Elastic in a research note on Tuesday, February 25th. Guggenheim increased their price target on shares of Elastic from $130.00 to $136.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Jefferies Financial Group decreased their price objective on Elastic from $125.00 to $110.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Scotiabank cut their target price on Elastic from $140.00 to $137.00 and set a "sector outperform" rating for the company in a research note on Thursday, March 27th. Seven 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 MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $126.87.

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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