Jefferies Financial Group Inc. Takes $456,000 Position in Elastic (NYSE:ESTC)

Jefferies Financial Group Inc. purchased a new stake in Elastic (NYSE:ESTC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,600 shares of the company's stock, valued at approximately $456,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ESTC. Geneos Wealth Management Inc. acquired a new position in shares of Elastic in the 4th quarter valued at $25,000. SBI Securities Co. Ltd. acquired a new position in Elastic in the fourth quarter valued at about $25,000. Venturi Wealth Management LLC increased its holdings in shares of 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 acquiring an additional 238 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock worth $28,000 after purchasing an additional 158 shares during the period. Finally, Global Retirement Partners LLC lifted its holdings in shares of Elastic by 1,065.2% during the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock valued at $53,000 after purchasing an additional 490 shares in the last quarter. Institutional investors own 97.03% of the company's stock.

Insider Activity at Elastic

In related news, CTO Shay Banon sold 25,668 shares of Elastic stock in a transaction that occurred on Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the completion of the sale, the chief technology officer now directly owns 2,408,541 shares of the company's stock, valued at approximately $271,033,118.73. This trade represents a 1.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total value of $513,200.00. Following the completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 198,304 shares of company stock worth $20,847,452. Insiders own 15.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ESTC shares. TD Securities lowered their target price on Elastic from $125.00 to $105.00 and set a "hold" rating for the company in a research note on Wednesday. Robert W. Baird upped their price objective on Elastic from $135.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Guggenheim lifted their target price on Elastic from $130.00 to $136.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Jefferies Financial Group reduced their price target on Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, Piper Sandler raised their price target on shares of Elastic from $130.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Nine investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $125.96.

Elastic Stock Performance

ESTC traded up $2.48 during trading hours on Thursday, reaching $93.13. The company's stock had a trading volume of 462,580 shares, compared to its average volume of 1,574,677. The company's 50-day moving average is $86.40 and its 200-day moving average is $97.38. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. The firm has a market cap of $9.72 billion, a PE ratio of 169.32 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99.

Elastic (NYSE:ESTC - Get Free Report) last released 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). The company had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. On average, equities analysts forecast that Elastic will post -0.77 EPS 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.