Los Angeles Capital Management LLC Takes Position in Elastic (NYSE:ESTC)

Los Angeles Capital Management LLC purchased a new position 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 159,953 shares of the company's stock, valued at approximately $18,027,000. Los Angeles Capital Management LLC owned about 0.16% of Elastic at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC boosted 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 buying an additional 409,717 shares during the period. Vanguard Group Inc. grew its position in Elastic by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 8,573,534 shares of the company's stock worth $696,514,000 after acquiring an additional 380,694 shares during the last quarter. Baillie Gifford & Co. increased its stake in Elastic by 2.8% in the 4th 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 during the period. Sylebra Capital LLC bought a new stake in Elastic in the third quarter valued at approximately $318,822,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Elastic by 5.5% during the third quarter. JPMorgan Chase & Co. now owns 2,969,585 shares of the company's stock valued at $241,249,000 after purchasing an additional 155,612 shares during the period. Hedge funds and other institutional investors own 97.03% of the company's stock.

Insiders Place Their Bets

In related news, Director Steven Schuurman sold 815,000 shares of the company's stock in a transaction that occurred on 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 transaction, the director now directly owns 8,382,000 shares of the company's stock, valued at approximately $817,580,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Steven Schuurman sold 815,000 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the sale, the director now directly owns 8,382,000 shares of the company's stock, valued at $817,580,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ashutosh Kulkarni sold 15,778 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 $1,629,551.84. Following the completion of the sale, the chief executive officer now owns 364,235 shares of the company's stock, valued at $37,618,190.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 962,440 shares of company stock valued at $94,535,764. Insiders own 18.10% of the company's stock.

Elastic Stock Down 0.4 %

ESTC stock traded down $0.44 on Friday, reaching $105.66. 690,290 shares of the company traded hands, compared to its average volume of 1,102,194. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.87 and a quick ratio of 1.87. The firm has a fifty day simple moving average of $104.26 and a 200-day simple moving average of $103.61. Elastic has a one year low of $54.54 and a one year high of $136.06. The company has a market cap of $10.65 billion, a P/E ratio of 229.70 and a beta of 0.92.

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

Analyst Ratings Changes

A number of research firms recently commented on ESTC. Royal Bank of Canada upped their price target on shares of Elastic from $134.00 to $147.00 and gave the company an "overweight" rating in a report on Monday, March 4th. TheStreet upgraded shares of Elastic from a "d+" rating to a "c-" rating in a report on Wednesday, February 7th. Citigroup cut their target price on Elastic from $165.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, March 4th. Oppenheimer increased their price objective on Elastic from $110.00 to $130.00 and gave the stock an "outperform" rating in a report on Friday, March 1st. Finally, Rosenblatt Securities boosted their target price on Elastic from $105.00 to $136.00 and gave the company a "buy" rating in a research note on Friday, March 1st. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $111.26.

Elastic 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.