No Street GP LP Buys Shares of 340,000 Elastic (NYSE:ESTC)

No Street GP LP bought a new stake in shares of Elastic (NYSE:ESTC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 340,000 shares of the company's stock, valued at approximately $33,687,000. Elastic accounts for about 2.2% of No Street GP LP's investment portfolio, making the stock its 15th biggest holding. No Street GP LP owned approximately 0.33% of Elastic at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ESTC. Norges Bank acquired a new stake in shares of Elastic during the 4th quarter worth approximately $102,485,000. Arrowstreet Capital Limited Partnership grew its position in shares of Elastic by 5,972.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company's stock worth $73,751,000 after buying an additional 732,100 shares during the period. Marshall Wace LLP grew its position in shares of Elastic by 554.9% during the 4th quarter. Marshall Wace LLP now owns 641,041 shares of the company's stock worth $63,514,000 after buying an additional 543,155 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Elastic during the 4th quarter worth approximately $46,031,000. Finally, Pictet Asset Management Holding SA grew its position in shares of Elastic by 15.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock worth $339,820,000 after buying an additional 462,974 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

Insider Transactions at Elastic

In related news, CEO Ashutosh Kulkarni sold 5,000 shares of Elastic stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total value of $513,200.00. Following the completion of the sale, the chief executive officer now owns 371,591 shares of the company's stock, valued at approximately $38,140,100.24. This trade represents a 1.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 2,683 shares of Elastic stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.78, for a total value of $243,562.74. Following the completion of the sale, the chief technology officer now directly owns 4,535,456 shares of the company's stock, valued at approximately $411,728,695.68. This trade represents a 0.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 198,304 shares of company stock worth $20,847,452 in the last ninety days. Company insiders own 15.90% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Morgan Stanley reduced their price objective on shares of Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. 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. DA Davidson reduced their price objective on shares of Elastic from $115.00 to $75.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Guggenheim increased their target price on Elastic from $130.00 to $136.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Truist Financial cut their target price on Elastic from $145.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, March 31st. 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 MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $126.87.

Elastic Stock Performance

Shares of NYSE ESTC traded up $0.06 during mid-day trading on Friday, reaching $92.25. 1,564,550 shares of the company's stock were exchanged, compared to its average volume of 1,438,150. The firm has a market capitalization of $9.63 billion, a price-to-earnings ratio of 167.73 and a beta of 1.20. Elastic has a 52 week low of $69.00 and a 52 week 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 firm has a 50-day moving average price of $86.56 and a two-hundred day moving average price of $97.13.

Elastic (NYSE:ESTC - Get Free Report) last released its 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 for the quarter, compared to the consensus estimate of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. Analysts predict 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.