Raymond James Financial Inc. Purchases New Shares in Elastic (NYSE:ESTC)

Raymond James Financial Inc. bought a new stake in shares of Elastic (NYSE:ESTC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 30,467 shares of the company's stock, valued at approximately $3,019,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. bought a new stake in shares of Elastic during the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. bought a new position in Elastic during the 4th quarter valued at $25,000. Venturi Wealth Management LLC increased its position in shares of Elastic by 793.3% during the 4th 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 raised its stake in shares of Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock worth $28,000 after buying an additional 158 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its stake in Elastic by 1,065.2% during 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 in the last quarter. Institutional investors own 97.03% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ESTC shares. Rosenblatt Securities reissued a "buy" rating and issued a $130.00 price target on shares of Elastic in a report on Tuesday, February 25th. Cantor Fitzgerald started coverage on Elastic in a research report on Friday, January 17th. They set a "neutral" rating and a $108.00 price objective for the company. Morgan Stanley decreased their target price on Elastic from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. DA Davidson reduced their target price on Elastic from $115.00 to $75.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Robert W. Baird lifted their price target on Elastic from $135.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $127.48.

Insider Activity at Elastic

In related news, insider Carolyn Herzog sold 3,334 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.78, for a total transaction of $302,660.52. Following the completion of the sale, the insider now owns 84,152 shares in the company, valued at $7,639,318.56. This trade represents a 3.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of Elastic stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total transaction of $513,200.00. Following the transaction, the chief executive officer now directly owns 371,591 shares of the company's stock, valued at $38,140,100.24. This represents 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 valued at $20,847,452 over the last quarter. 15.90% of the stock is owned by company insiders.

Elastic Stock Performance

Elastic stock traded down $3.38 during mid-day trading on Friday, reaching $82.92. The company had a trading volume of 1,736,160 shares, compared to its average volume of 1,394,795. The company has a 50 day moving average of $89.79 and a 200-day moving average of $96.54. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm has a market cap of $8.66 billion, a price-to-earnings ratio of 150.70 and a beta of 1.19.

Elastic (NYSE:ESTC - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.48). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The firm had revenue of $382.08 million for the quarter, compared to analyst estimates of $368.85 million. On average, sell-side analysts expect 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.