Graham Capital Management L.P. Purchases 14,600 Shares of Elastic (NYSE:ESTC)

Graham Capital Management L.P. boosted its stake in shares of Elastic (NYSE:ESTC - Free Report) by 435.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,955 shares of the company's stock after acquiring an additional 14,600 shares during the period. Graham Capital Management L.P.'s holdings in Elastic were worth $1,779,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Slow Capital Inc. bought a new stake in Elastic during the fourth quarter worth $5,039,000. Wealth Effects LLC lifted its position in shares of Elastic by 25.4% during the 4th quarter. Wealth Effects LLC now owns 28,800 shares of the company's stock worth $2,854,000 after buying an additional 5,830 shares during the last quarter. Smith Group Asset Management LLC acquired a new stake in Elastic in the fourth quarter valued at about $3,408,000. Nisa Investment Advisors LLC grew its position in Elastic by 3,442.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 14,525 shares of the company's stock valued at $1,439,000 after acquiring an additional 14,115 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Elastic by 187.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,073 shares of the company's stock valued at $899,000 after acquiring an additional 5,919 shares during the last quarter. Institutional investors own 97.03% of the company's stock.

Insider Buying and Selling

In other Elastic news, CEO Ashutosh Kulkarni sold 5,000 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total value of $513,200.00. Following the sale, the chief executive officer now owns 371,591 shares in the company, valued at approximately $38,140,100.24. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Mark Eugene Dodds sold 2,755 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $250,071.35. Following the completion of the sale, the executive now directly owns 96,484 shares in the company, valued at approximately $8,757,852.68. This represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 198,304 shares of company stock valued at $20,847,452 over the last three months. Corporate insiders own 15.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ESTC. Robert W. Baird upped their price objective on shares of Elastic from $135.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Canaccord Genuity Group increased their price target on Elastic from $130.00 to $135.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Morgan Stanley cut their price objective on Elastic from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. UBS Group upped their target price on Elastic from $140.00 to $148.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Jefferies Financial Group cut their price target on Elastic from $125.00 to $110.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Elastic currently has an average rating of "Moderate Buy" and a consensus target price of $127.48.

Elastic Trading Down 0.9%

NYSE:ESTC traded down $0.85 during mid-day trading on Thursday, reaching $92.22. 2,919,988 shares of the company's stock traded hands, compared to its average volume of 1,433,057. Elastic has a 12-month low of $69.00 and a 12-month high of $123.96. 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 company has a 50 day moving average price of $86.63 and a 200-day moving average price of $96.97. The firm has a market capitalization of $9.63 billion, a price-to-earnings ratio of 167.67 and a beta of 1.20.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly 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). The business 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, sell-side analysts predict that Elastic will post -0.77 earnings per share for the current year.

About Elastic

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.