Nicholas Investment Partners LP Invests $5.05 Million in Elastic (NYSE:ESTC)

Nicholas Investment Partners LP bought a new position in Elastic (NYSE:ESTC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 50,946 shares of the company's stock, valued at approximately $5,048,000.

A number of other institutional investors have also bought and sold shares of the business. No Street GP LP purchased a new position in Elastic in the 4th quarter worth approximately $33,687,000. Occudo Quantitative Strategies LP acquired a new stake in shares of Elastic during the 4th quarter worth approximately $300,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Elastic during the 4th quarter worth approximately $495,000. Lazard Asset Management LLC increased its holdings in shares of Elastic by 32.5% during the 4th quarter. Lazard Asset Management LLC now owns 23,198 shares of the company's stock worth $2,296,000 after buying an additional 5,694 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Elastic by 105.8% during the 4th quarter. Janus Henderson Group PLC now owns 81,159 shares of the company's stock worth $8,039,000 after buying an additional 41,727 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ESTC. Canaccord Genuity Group raised their price target on shares of Elastic from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Rosenblatt Securities reiterated a "buy" rating and issued a $130.00 target price on shares of Elastic in a report on Tuesday, February 25th. Barclays decreased their price target on shares of Elastic from $138.00 to $124.00 and set an "overweight" rating for the company in a research report on Friday. UBS Group lifted their price objective on shares of Elastic from $140.00 to $148.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, Robert W. Baird lifted 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. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Elastic currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.87.

Elastic Stock Down 1.8%

Shares of ESTC stock traded down $1.64 on Monday, hitting $90.68. The stock had a trading volume of 834,535 shares, compared to its average volume of 1,437,372. The firm has a market capitalization of $9.47 billion, a price-to-earnings ratio of 165.08 and a beta of 1.20. The stock's 50 day moving average is $86.56 and its 200-day moving average is $97.37. 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 has a 52-week low of $69.00 and a 52-week high of $123.96.

Elastic (NYSE:ESTC - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) 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 company had revenue of $382.08 million for the quarter, compared to the consensus estimate of $368.85 million. As a group, research analysts expect that Elastic will post -0.77 earnings per share for the current year.

Insider Buying and Selling

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

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.