JAT Capital Mgmt LP Has $4.95 Million Stock Position in Elastic (NYSE:ESTC)

JAT Capital Mgmt LP reduced its holdings in Elastic (NYSE:ESTC - Free Report) by 89.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,000 shares of the company's stock after selling 415,549 shares during the quarter. Elastic accounts for 0.8% of JAT Capital Mgmt LP's portfolio, making the stock its 25th largest position. JAT Capital Mgmt LP's holdings in Elastic were worth $4,954,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ESTC. Slow Capital Inc. acquired a new position in shares of Elastic during the fourth quarter valued at $5,039,000. Wealth Effects LLC increased its stake in Elastic by 25.4% during the 4th quarter. Wealth Effects LLC now owns 28,800 shares of the company's stock valued at $2,854,000 after buying an additional 5,830 shares during the period. Bangor Savings Bank bought a new stake in shares of Elastic during the 4th quarter worth about $1,657,000. Smith Group Asset Management LLC acquired a new stake in shares of Elastic in the 4th quarter worth approximately $3,408,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of 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 in the last quarter. Institutional investors own 97.03% of the company's stock.

Insider Transactions at Elastic

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, CRO Mark Eugene Dodds sold 2,755 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 $250,071.35. Following the completion of the transaction, the executive now owns 96,484 shares in the company, valued at $8,757,852.68. This trade represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 198,304 shares of company stock worth $20,847,452 in the last 90 days. 15.90% of the stock is owned by insiders.

Elastic Stock Up 0.9 %

Shares of NYSE:ESTC traded up $0.73 during trading on Monday, reaching $83.65. 755,085 shares of the company traded hands, compared to its average volume of 1,399,962. The firm has a fifty day simple moving average of $89.39 and a 200 day simple moving average of $96.75. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96. The firm has a market cap of $8.73 billion, a P/E ratio of 152.06 and a beta of 1.20.

Elastic (NYSE:ESTC - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $368.85 million. Analysts anticipate that Elastic will post -0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on ESTC. DA Davidson dropped their target price on Elastic from $115.00 to $75.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Truist Financial cut their price objective on Elastic from $145.00 to $140.00 and set a "buy" rating for the company in a report on Monday, March 31st. Guggenheim boosted their price target on shares of Elastic from $130.00 to $136.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Scotiabank reduced their price objective on shares of Elastic from $140.00 to $137.00 and set a "sector outperform" rating for the company in a research report on Thursday, March 27th. Finally, Piper Sandler boosted their target price on shares of Elastic from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Elastic has a consensus rating of "Moderate Buy" and a consensus 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.