Point72 Hong Kong Ltd Purchases 36,578 Shares of Elastic (NYSE:ESTC)

Point72 Hong Kong Ltd boosted its position in shares of Elastic (NYSE:ESTC - Free Report) by 291.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,141 shares of the company's stock after purchasing an additional 36,578 shares during the quarter. Point72 Hong Kong Ltd's holdings in Elastic were worth $4,869,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new position in Elastic during the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new position in Elastic during the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC grew its holdings in Elastic by 793.3% during the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock valued at $27,000 after purchasing an additional 238 shares during the period. Smartleaf Asset Management LLC grew its holdings in Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock valued at $28,000 after purchasing an additional 158 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in shares of Elastic by 1,065.2% in the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock valued at $53,000 after buying an additional 490 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $130.00 price target on shares of Elastic in a report on Tuesday, February 25th. Robert W. Baird upped their price target on shares of Elastic from $135.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, February 28th. Guggenheim upped their price target on shares of Elastic from $130.00 to $136.00 and gave the company a "buy" rating in a report on Friday, February 28th. Jefferies Financial Group reduced their price target on shares of Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, Barclays cut their target price on Elastic from $138.00 to $124.00 and set an "overweight" rating on the stock in a research note on Friday. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $126.87.

Insider Transactions at Elastic

In other Elastic news, CTO Shay Banon sold 140,129 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total value of $14,948,961.72. Following the transaction, the chief technology officer now directly owns 2,254,978 shares of the company's stock, valued at $240,561,053.04. This trade represents a 5.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total transaction of $513,200.00. Following the completion of the sale, the chief executive officer now owns 371,591 shares in the company, valued at approximately $38,140,100.24. The trade was a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 198,304 shares of company stock worth $20,847,452. 15.90% of the stock is owned by insiders.

Elastic Stock Performance

ESTC stock traded up $0.06 during trading hours on Friday, reaching $92.25. The stock had a trading volume of 1,564,550 shares, compared to its average volume of 1,439,572. The stock has a market capitalization of $9.63 billion, a PE ratio of 167.73 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The stock has a 50-day simple moving average of $86.56 and a 200 day simple moving average of $97.25. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.48). The firm had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. Analysts predict that Elastic will post -0.77 EPS 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.