Elastic (NYSE:ESTC) Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC lowered its stake in shares of Elastic (NYSE:ESTC - Free Report) by 14.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 215,971 shares of the company's stock after selling 35,707 shares during the quarter. WCM Investment Management LLC owned about 0.22% of Elastic worth $24,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of ESTC. FMR LLC lifted its position in Elastic by 4.7% during the third quarter. FMR LLC now owns 9,051,434 shares of the company's stock valued at $735,338,000 after purchasing an additional 409,717 shares during the period. Vanguard Group Inc. increased its stake in shares of Elastic by 4.6% in the third quarter. Vanguard Group Inc. now owns 8,573,534 shares of the company's stock worth $696,514,000 after purchasing an additional 380,694 shares in the last quarter. Baillie Gifford & Co. increased its stake in shares of Elastic by 2.8% in the fourth quarter. Baillie Gifford & Co. now owns 7,764,370 shares of the company's stock worth $875,044,000 after purchasing an additional 211,896 shares in the last quarter. BlackRock Inc. grew its stake in Elastic by 4.8% during the first quarter. BlackRock Inc. now owns 5,616,149 shares of the company's stock valued at $499,557,000 after acquiring an additional 259,742 shares in the last quarter. Finally, Sylebra Capital Ltd grew its stake in Elastic by 3.2% during the first quarter. Sylebra Capital Ltd now owns 4,712,076 shares of the company's stock valued at $272,829,000 after acquiring an additional 146,397 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Analyst Ratings Changes

ESTC has been the subject of several research reports. Citigroup lowered their price objective on shares of Elastic from $165.00 to $155.00 and set a "buy" rating for the company in a research report on Monday, March 4th. Oppenheimer boosted their price target on Elastic from $110.00 to $130.00 and gave the stock an "outperform" rating in a research report on Friday, March 1st. Royal Bank of Canada boosted their target price on shares of Elastic from $134.00 to $147.00 and gave the stock an "overweight" rating in a report on Monday, March 4th. Stifel Nicolaus boosted their target price on shares of Elastic from $99.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, March 1st. Finally, Scotiabank cut their price objective on shares of Elastic from $185.00 to $154.00 and set a "sector outperform" rating on the stock in a report on Friday, March 1st. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $111.26.

Insider Activity at Elastic

In other news, Director Steven Schuurman sold 815,000 shares of Elastic stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total value of $79,495,100.00. Following the completion of the transaction, the director now owns 8,382,000 shares in the company, valued at approximately $817,580,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Steven Schuurman sold 815,000 shares of Elastic stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total value of $79,495,100.00. Following the completion of the transaction, the director now owns 8,382,000 shares in the company, valued at approximately $817,580,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Shay Banon sold 1,322 shares of Elastic stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $106.23, for a total value of $140,436.06. Following the completion of the transaction, the chief technology officer now owns 4,518,714 shares of the company's stock, valued at approximately $480,022,988.22. The disclosure for this sale can be found here. Insiders sold 962,440 shares of company stock worth $94,535,764 in the last three months. 18.10% of the stock is owned by company insiders.

Elastic Trading Down 2.6 %

Elastic stock traded down $2.61 during midday trading on Friday, reaching $97.24. 1,293,298 shares of the stock traded hands, compared to its average volume of 1,022,321. The company has a 50-day simple moving average of $111.94 and a two-hundred day simple moving average of $101.38. Elastic has a 12-month low of $54.06 and a 12-month high of $136.06. The firm has a market cap of $9.80 billion, a PE ratio of 211.39 and a beta of 0.94. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.80.

Elastic (NYSE:ESTC - Get Free Report) last announced its earnings results on Thursday, February 29th. The company reported ($0.27) EPS for the quarter, beating analysts' consensus estimates of ($0.28) by $0.01. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. The company had revenue of $327.96 million during the quarter, compared to analysts' expectations of $320.48 million. Research analysts expect that Elastic will post -1.13 earnings per share for the current fiscal 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.