Vestor Capital LLC Makes New $3.27 Million Investment in Elastic (NYSE:ESTC)

Vestor Capital LLC bought a new stake in Elastic (NYSE:ESTC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 29,046 shares of the company's stock, valued at approximately $3,273,000.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in Elastic by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 503,828 shares of the company's stock valued at $56,781,000 after purchasing an additional 18,558 shares during the last quarter. National Bank of Canada FI increased its position in Elastic by 428.2% during the fourth quarter. National Bank of Canada FI now owns 11,225 shares of the company's stock worth $1,196,000 after purchasing an additional 9,100 shares during the last quarter. M&T Bank Corp raised its stake in Elastic by 11.7% during the fourth quarter. M&T Bank Corp now owns 3,164 shares of the company's stock worth $357,000 after purchasing an additional 332 shares during the period. Amalgamated Bank boosted its holdings in shares of Elastic by 3.7% in the 4th quarter. Amalgamated Bank now owns 17,341 shares of the company's stock valued at $1,954,000 after purchasing an additional 612 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Elastic during the 4th quarter valued at $18,027,000. Institutional investors and hedge funds own 97.03% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on ESTC. Royal Bank of Canada raised 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. Barclays decreased their price target on shares of Elastic from $130.00 to $128.00 and set an "equal weight" rating for the company in a research report on Friday, March 1st. Scotiabank cut their price objective on Elastic from $185.00 to $154.00 and set a "sector outperform" rating on the stock in a research report on Friday, March 1st. Truist Financial upped their target price on Elastic from $130.00 to $140.00 and gave the stock a "buy" rating in a research report on Tuesday, February 20th. Finally, Rosenblatt Securities upped their price objective on shares of Elastic from $105.00 to $136.00 and gave the company a "buy" rating in a research report on Friday, March 1st. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Elastic presently has a consensus rating of "Moderate Buy" and a consensus price target of $111.26.

Elastic Price Performance

Shares of ESTC stock traded up $1.07 during trading hours on Friday, hitting $106.06. 708,462 shares of the company's stock were exchanged, compared to its average volume of 1,320,293. The stock's 50-day moving average is $102.25 and its 200-day moving average is $104.15. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.87 and a quick ratio of 1.87. Elastic has a 52 week low of $57.38 and a 52 week high of $136.06. The stock has a market cap of $10.69 billion, a price-to-earnings ratio of 230.57 and a beta of 0.92.

Elastic (NYSE:ESTC - Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $320.48 million. As a group, research analysts forecast that Elastic will post -1.13 EPS for the current year.

Insider Transactions at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 15,778 shares of the company's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $103.28, for a total transaction of $1,629,551.84. Following the completion of the sale, the chief executive officer now owns 364,235 shares in the company, valued at approximately $37,618,190.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Ashutosh Kulkarni sold 15,778 shares of the business's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $103.28, for a total transaction of $1,629,551.84. Following the completion of the transaction, the chief executive officer now directly owns 364,235 shares in the company, valued at approximately $37,618,190.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Janesh Moorjani sold 5,515 shares of the business's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $103.28, for a total value of $569,589.20. Following the completion of the transaction, the chief financial officer now directly owns 156,797 shares of the company's stock, valued at $16,193,994.16. The disclosure for this sale can be found here. Insiders sold a total of 962,440 shares of company stock worth $94,535,764 in the last quarter. 18.10% of the stock is owned by company insiders.

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.

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