Elastic (NYSE:ESTC) Stake Lowered by Flight Deck Capital LP

Flight Deck Capital LP cut its stake in shares of Elastic (NYSE:ESTC - Free Report) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,700 shares of the company's stock after selling 12,300 shares during the quarter. Elastic accounts for about 12.5% of Flight Deck Capital LP's holdings, making the stock its 2nd biggest holding. Flight Deck Capital LP owned approximately 0.11% of Elastic worth $11,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ESTC. Geneos Wealth Management Inc. bought a new position in shares of Elastic in the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. purchased a new position in shares of Elastic during the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC boosted its position in Elastic by 793.3% in the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock worth $27,000 after purchasing an additional 238 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake 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 last quarter. Finally, Global Retirement Partners LLC grew its holdings in Elastic by 1,065.2% during the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock valued at $53,000 after purchasing an additional 490 shares during the period. Hedge funds and other institutional investors own 97.03% of the company's stock.

Elastic Price Performance

ESTC traded up $0.80 during trading on Tuesday, reaching $93.56. The company's stock had a trading volume of 1,345,977 shares, compared to its average volume of 1,424,945. Elastic has a 1 year low of $69.00 and a 1 year high of $123.96. 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 company has a market cap of $9.77 billion, a price-to-earnings ratio of 170.11 and a beta of 1.20. The firm has a fifty day simple moving average of $86.67 and a two-hundred day simple moving average of $96.99.

Elastic (NYSE:ESTC - Get Free Report) last posted 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). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The firm had revenue of $382.08 million during the quarter, compared to analysts' expectations of $368.85 million. As a group, analysts anticipate that Elastic will post -0.77 EPS for the current year.

Insiders Place Their Bets

In other Elastic news, CTO Shay Banon sold 140,129 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the completion of the sale, the chief technology officer now directly owns 2,254,978 shares of the company's stock, valued at approximately $240,561,053.04. This trade represents a 5.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 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. Over the last quarter, insiders have sold 198,304 shares of company stock valued at $20,847,452. 15.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Robert W. Baird upped their target price on shares of Elastic from $135.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. UBS Group increased their target price on Elastic from $140.00 to $148.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Morgan Stanley dropped their price target on Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Canaccord Genuity Group boosted their price target on shares of Elastic from $130.00 to $135.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Finally, DA Davidson decreased their target price on Elastic from $115.00 to $75.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Seven research 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $127.48.

Elastic Company 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.