Fortress Investment Group LLC Purchases Shares of 20,000 Elastic (NYSE:ESTC)

Fortress Investment Group LLC acquired a new stake in shares of Elastic (NYSE:ESTC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,000 shares of the company's stock, valued at approximately $1,982,000. Elastic makes up approximately 0.3% of Fortress Investment Group LLC's portfolio, making the stock its 9th biggest position.

Several other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new position in Elastic during the 4th quarter valued at $102,485,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Elastic by 5,972.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company's stock valued at $73,751,000 after purchasing an additional 732,100 shares in the last quarter. Marshall Wace LLP boosted its holdings in Elastic by 554.9% during the fourth quarter. Marshall Wace LLP now owns 641,041 shares of the company's stock worth $63,514,000 after purchasing an additional 543,155 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Elastic in the 4th quarter worth about $46,031,000. Finally, Pictet Asset Management Holding SA increased its stake in Elastic by 15.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock valued at $339,820,000 after buying an additional 462,974 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

Insider Activity at Elastic

In other news, CEO Ashutosh Kulkarni sold 18,735 shares of Elastic stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the completion of the sale, the chief executive officer now directly owns 376,591 shares of the company's stock, valued at approximately $34,183,165.07. The trade was a 4.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Shay Banon sold 140,129 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total value of $14,948,961.72. Following the completion of the transaction, the chief technology officer now directly owns 2,254,978 shares in the company, valued at approximately $240,561,053.04. This represents a 5.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 198,304 shares of company stock valued at $20,847,452. Company insiders own 15.90% of the company's stock.

Elastic Price Performance

Shares of ESTC traded down $0.76 during midday trading on Thursday, hitting $92.31. 2,172,715 shares of the company traded hands, compared to its average volume of 1,430,155. Elastic has a one year low of $69.00 and a one year high of $123.96. The firm has a market cap of $9.64 billion, a P/E ratio of 167.83 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. The stock has a 50-day moving average of $86.63 and a 200-day moving average of $96.97.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) 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 for the quarter, compared to analysts' expectations of $368.85 million. As a group, sell-side analysts predict that Elastic will post -0.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ESTC shares. UBS Group boosted their target price on Elastic from $140.00 to $148.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Rosenblatt Securities reissued a "buy" rating and issued a $130.00 price objective on shares of Elastic in a research report on Tuesday, February 25th. Canaccord Genuity Group raised their target price on Elastic from $130.00 to $135.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Wells Fargo & Company lifted their target price on Elastic from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Finally, Jefferies Financial Group cut their price target on shares of Elastic from $125.00 to $110.00 and set a "buy" rating on the stock in a report on Monday, April 7th. 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. Based on data from MarketBeat, Elastic has an average rating of "Moderate Buy" and a consensus target price of $127.48.

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.