Elastic (NYSE:ESTC) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its stake in shares of Elastic (NYSE:ESTC - Free Report) by 314.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 498,638 shares of the company's stock after purchasing an additional 378,194 shares during the period. BNP Paribas Financial Markets owned 0.50% of Elastic worth $56,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rakuten Securities Inc. purchased a new stake in Elastic during the fourth quarter valued at approximately $25,000. GAMMA Investing LLC purchased a new stake in Elastic during the fourth quarter valued at approximately $39,000. Cypress Capital Management LLC WY purchased a new stake in Elastic during the fourth quarter valued at approximately $45,000. Covestor Ltd raised its position in Elastic by 168.3% during the third quarter. Covestor Ltd now owns 448 shares of the company's stock valued at $36,000 after purchasing an additional 281 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Elastic during the fourth quarter valued at approximately $97,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Elastic Stock Up 1.0 %

Elastic stock traded up $1.06 during midday trading on Friday, reaching $106.05. The company's stock had a trading volume of 708,570 shares, compared to its average volume of 1,082,378. The stock's 50-day simple moving average is $102.03 and its 200-day simple moving average is $104.71. 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 capitalization of $10.69 billion, a P/E ratio of 230.54 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 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. On average, sell-side analysts expect that Elastic will post -1.13 EPS for the current year.

Insider Transactions at Elastic

In other news, CEO Ashutosh Kulkarni sold 15,778 shares of the firm's 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 transaction, the chief executive officer now directly owns 364,235 shares in the company, valued at $37,618,190.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Ashutosh Kulkarni sold 15,778 shares of Elastic 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 $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 $37,618,190.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Carolyn Herzog sold 2,591 shares of Elastic stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $103.28, for a total value of $267,598.48. Following 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 worth $94,535,764 over the last three months. 18.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Stifel Nicolaus upped their target price on Elastic from $99.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, March 1st. Oppenheimer upped their target price on Elastic from $110.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, March 1st. TheStreet raised Elastic from a "d+" rating to a "c-" rating in a research note on Wednesday, February 7th. The Goldman Sachs Group upped their target price on Elastic from $93.00 to $106.00 and gave the company a "neutral" rating in a research note on Friday, March 1st. Finally, Truist Financial upped their target price on Elastic from $130.00 to $140.00 and gave the company a "buy" rating in a research note on Tuesday, February 20th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. 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.