Polar Capital Holdings Plc Trims Stock Position in Elastic (NYSE:ESTC)

Polar Capital Holdings Plc decreased its holdings in shares of Elastic (NYSE:ESTC - Free Report) by 18.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 567,120 shares of the company's stock after selling 125,000 shares during the period. Polar Capital Holdings Plc owned 0.55% of Elastic worth $56,190,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ESTC. Geneos Wealth Management Inc. purchased a new stake in shares of Elastic during the fourth quarter worth $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Elastic during the 4th quarter valued at about $25,000. Venturi Wealth Management LLC lifted its position in Elastic by 793.3% in the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock valued at $27,000 after buying an additional 238 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock valued at $28,000 after buying an additional 158 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its position in 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 last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ESTC. Scotiabank cut their target price on shares of Elastic from $140.00 to $137.00 and set a "sector outperform" rating on the stock in a research note on Thursday, March 27th. Jefferies Financial Group cut their price objective on Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a research report on Monday, April 7th. UBS Group raised their price target on Elastic from $140.00 to $148.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Robert W. Baird lifted their price objective on Elastic from $135.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Finally, Canaccord Genuity Group raised their price target on Elastic from $130.00 to $135.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Elastic currently has an average rating of "Moderate Buy" and an average price target of $126.87.

Elastic Stock Performance

NYSE ESTC traded up $2.62 on Tuesday, hitting $94.91. 1,013,581 shares of the company traded hands, compared to its average volume of 1,441,326. The business's 50 day moving average price is $86.43 and its 200-day moving average price is $97.44. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 172.31 and a beta of 1.20. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.47 by ($0.48). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The business had revenue of $382.08 million during the quarter, compared to analysts' expectations of $368.85 million. Equities analysts expect that Elastic will post -0.77 earnings per share for the current year.

Insider Buying and Selling at Elastic

In related news, CTO Shay Banon sold 2,683 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.78, for a total value of $243,562.74. Following the transaction, the chief technology officer now owns 4,535,456 shares of the company's stock, valued at $411,728,695.68. This trade represents a 0.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total value of $513,200.00. Following the transaction, the chief executive officer now owns 371,591 shares in the company, valued at $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. Insiders have sold a total of 198,304 shares of company stock worth $20,847,452 over the last ninety days. Company insiders own 15.90% 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.