Potrero Capital Research LLC Sells 85,000 Shares of Elastic (NYSE:ESTC)

Potrero Capital Research LLC lessened its holdings in Elastic (NYSE:ESTC - Free Report) by 89.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,000 shares of the company's stock after selling 85,000 shares during the quarter. Elastic accounts for approximately 0.3% of Potrero Capital Research LLC's investment portfolio, making the stock its 23rd biggest position. Potrero Capital Research LLC's holdings in Elastic were worth $991,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Elastic during the 4th quarter worth $102,485,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Elastic by 5,972.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company's stock worth $73,751,000 after purchasing an additional 732,100 shares during the period. Marshall Wace LLP increased its holdings in Elastic by 554.9% in the fourth quarter. Marshall Wace LLP now owns 641,041 shares of the company's stock valued at $63,514,000 after purchasing an additional 543,155 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in Elastic during the 4th quarter worth $46,031,000. Finally, Pictet Asset Management Holding SA lifted its holdings in Elastic by 15.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock worth $339,820,000 after buying an additional 462,974 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

Insider Buying and Selling at Elastic

In other Elastic news, CRO Mark Eugene Dodds sold 2,755 shares of Elastic stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $250,071.35. Following the completion of the transaction, the executive now owns 96,484 shares of the company's stock, valued at $8,757,852.68. The trade was a 2.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the transaction, the chief executive officer now directly owns 376,591 shares of the company's stock, valued at approximately $34,183,165.07. This represents a 4.74% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,304 shares of company stock valued at $20,847,452. Company insiders own 15.90% of the company's stock.

Elastic Stock Performance

Shares of ESTC stock opened at $93.29 on Thursday. 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 firm has a 50-day moving average of $86.63 and a 200-day moving average of $96.97. Elastic has a one year low of $69.00 and a one year high of $123.96. The company has a market cap of $9.74 billion, a P/E ratio of 169.62 and a beta of 1.20.

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

Analyst Ratings Changes

A number of research firms recently commented on ESTC. Rosenblatt Securities reaffirmed a "buy" rating and issued a $130.00 price objective on shares of Elastic in a research note on Tuesday, February 25th. Truist Financial lowered their price target on shares of Elastic from $145.00 to $140.00 and set a "buy" rating for the company in a report on Monday, March 31st. Guggenheim upped their price objective on shares of Elastic from $130.00 to $136.00 and gave the company a "buy" rating in a research note on Friday, February 28th. UBS Group boosted their target price on shares of Elastic from $140.00 to $148.00 and gave the company a "buy" rating in a report on Friday, February 28th. Finally, Robert W. Baird increased their price target on Elastic from $135.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. Seven equities research 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $127.48.

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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