22,756 Shares in Elastic (NYSE:ESTC) Acquired by Strategic Vision Investment Ltd

Strategic Vision Investment Ltd bought a new position in shares of Elastic (NYSE:ESTC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 22,756 shares of the company's stock, valued at approximately $2,565,000. Elastic makes up approximately 2.3% of Strategic Vision Investment Ltd's portfolio, making the stock its 7th largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in Elastic by 6.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,284 shares of the company's stock worth $186,000 after buying an additional 142 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Elastic by 19.6% during the third quarter. Advisors Asset Management Inc. now owns 928 shares of the company's stock worth $75,000 after acquiring an additional 152 shares during the last quarter. Treasurer of the State of North Carolina raised its position in Elastic by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 34,154 shares of the company's stock valued at $2,775,000 after purchasing an additional 170 shares during the last quarter. Utah Retirement Systems boosted its stake in Elastic by 1.4% during the 4th quarter. Utah Retirement Systems now owns 14,000 shares of the company's stock worth $721,000 after purchasing an additional 200 shares during the period. Finally, Truist Financial Corp boosted its stake in Elastic by 2.9% during the 4th quarter. Truist Financial Corp now owns 7,355 shares of the company's stock worth $379,000 after purchasing an additional 207 shares during the period. Hedge funds and other institutional investors own 97.03% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ESTC shares. Scotiabank lowered their price target on Elastic from $185.00 to $154.00 and set a "sector outperform" rating on the stock in a report on Friday, March 1st. TheStreet raised shares of Elastic from a "d+" rating to a "c-" rating in a report on Wednesday, February 7th. The Goldman Sachs Group boosted their target price on Elastic from $93.00 to $106.00 and gave the stock a "neutral" rating in a research report on Friday, March 1st. Oppenheimer raised their price target on Elastic from $110.00 to $130.00 and gave the company an "outperform" rating in a report on Friday, March 1st. Finally, Stifel Nicolaus upped their price objective on Elastic from $99.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, March 1st. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $111.26.

Elastic Price Performance

ESTC stock traded down $0.57 on Wednesday, reaching $94.61. The company had a trading volume of 839,702 shares, compared to its average volume of 1,383,426. The company has a market cap of $9.54 billion, a P/E ratio of 205.67 and a beta of 0.94. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.87 and a current ratio of 1.87. The company's fifty day moving average is $110.85 and its 200 day moving average is $101.74. Elastic has a 1 year low of $54.06 and a 1 year high of $136.06.

Elastic (NYSE:ESTC - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.27) earnings per share for the quarter, beating analysts' consensus estimates of ($0.28) by $0.01. Elastic had a net margin of 4.63% and a negative return on equity of 23.94%. The business had revenue of $327.96 million during the quarter, compared to analyst estimates of $320.48 million. On average, research analysts forecast that Elastic will post -1.13 earnings per share for the current year.

Insider Buying and Selling at Elastic

In other Elastic news, insider Carolyn Herzog sold 2,591 shares of the firm's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $103.28, for a total transaction of $267,598.48. Following the completion of the sale, the insider now owns 87,799 shares in the company, valued at approximately $9,067,880.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Steven Schuurman sold 815,000 shares of the company's stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total value of $79,495,100.00. Following the sale, 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 SEC, which is accessible through the SEC website. Also, insider Carolyn Herzog sold 2,591 shares of Elastic stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $103.28, for a total value of $267,598.48. Following the completion of the transaction, the insider now owns 87,799 shares of the company's stock, valued at $9,067,880.72. The disclosure for this sale can be found here. Insiders sold a total of 962,440 shares of company stock valued at $94,535,764 in the last ninety days. Insiders own 18.10% of the company's stock.

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.