Hsbc Holdings PLC Has $1.59 Million Stock Holdings in Elastic (NYSE:ESTC)

Hsbc Holdings PLC increased its holdings in shares of Elastic (NYSE:ESTC - Free Report) by 224.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,982 shares of the company's stock after acquiring an additional 11,056 shares during the quarter. Hsbc Holdings PLC's holdings in Elastic were worth $1,589,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. J. Safra Sarasin Holding AG lifted its position in Elastic by 19.6% in the 4th quarter. J. Safra Sarasin Holding AG now owns 127,874 shares of the company's stock valued at $12,670,000 after purchasing an additional 20,973 shares during the last quarter. Stifel Financial Corp increased its stake in shares of Elastic by 14.4% in the fourth quarter. Stifel Financial Corp now owns 22,384 shares of the company's stock valued at $2,218,000 after purchasing an additional 2,820 shares during the period. MetLife Investment Management LLC increased its stake in shares of Elastic by 4.6% in the fourth quarter. MetLife Investment Management LLC now owns 5,365 shares of the company's stock valued at $532,000 after purchasing an additional 237 shares during the period. Ostrum Asset Management boosted its position in shares of Elastic by 26.4% during the fourth quarter. Ostrum Asset Management now owns 1,538 shares of the company's stock worth $152,000 after buying an additional 321 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Elastic by 5.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 383,612 shares of the company's stock worth $38,014,000 after buying an additional 20,892 shares in the last quarter. Institutional investors own 97.03% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ESTC. Canaccord Genuity Group boosted their price target on Elastic from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. UBS Group increased their target price on shares of Elastic from $140.00 to $148.00 and gave the company a "buy" rating in a research report on Friday, February 28th. DA Davidson dropped their price target on shares of Elastic from $115.00 to $75.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Morgan Stanley decreased their price objective on shares of Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Jefferies Financial Group dropped their target price on Elastic from $125.00 to $110.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Seven research 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 stock. According to data from MarketBeat.com, Elastic currently has a consensus rating of "Moderate Buy" and an average target price of $127.48.

Elastic Stock Down 3.7 %

Shares of NYSE ESTC traded down $3.23 during mid-day trading on Friday, reaching $83.07. The company had a trading volume of 2,753,558 shares, compared to its average volume of 1,402,135. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 151.04 and a beta of 1.20. The stock has a fifty day moving average of $89.39 and a two-hundred day moving average of $96.75. Elastic has a 12-month low of $69.00 and a 12-month high of $123.96.

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

Insiders Place Their Bets

In other news, CTO Shay Banon sold 25,668 shares of the business's stock in a transaction on 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 in the company, valued at approximately $271,033,118.73. The trade was a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the chief executive officer now owns 376,591 shares in the company, valued at $34,183,165.07. This trade represents a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 198,304 shares of company stock valued at $20,847,452 over the last three months. 15.90% of the stock is currently owned by insiders.

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.