Sapience Investments LLC Sells 3,622 Shares of Elastic (NYSE:ESTC)

Sapience Investments LLC decreased its position in Elastic (NYSE:ESTC - Free Report) by 42.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,006 shares of the company's stock after selling 3,622 shares during the period. Sapience Investments LLC's holdings in Elastic were worth $496,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Barclays PLC grew its position in shares of Elastic by 56.2% during the third quarter. Barclays PLC now owns 153,155 shares of the company's stock valued at $11,757,000 after purchasing an additional 55,084 shares in the last quarter. Oak Thistle LLC bought a new stake in shares of Elastic in the 4th quarter valued at about $357,000. Nisa Investment Advisors LLC grew its stake in shares of Elastic by 3,442.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 14,525 shares of the company's stock worth $1,439,000 after acquiring an additional 14,115 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Elastic during the fourth quarter valued at $7,293,000. Finally, Janney Montgomery Scott LLC purchased a new position in Elastic during the 4th quarter worth approximately $202,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ESTC shares. Robert W. Baird raised their target price on Elastic from $135.00 to $140.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. Wells Fargo & Company raised their target price on shares of Elastic from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Jefferies Financial Group decreased their price objective on Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a report on Monday, April 7th. Piper Sandler boosted their target price on Elastic from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Finally, Morgan Stanley lowered 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. Nine equities research 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $125.96.

Insiders Place Their Bets

In related news, CEO Ashutosh Kulkarni sold 5,000 shares of the company'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 completion of the transaction, the chief executive officer now directly owns 371,591 shares in the company, valued at approximately $38,140,100.24. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Shay Banon sold 25,668 shares of the business's stock in a transaction on Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the completion of the sale, the chief technology officer now directly owns 2,408,541 shares in the company, valued at $271,033,118.73. This trade represents a 1.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,304 shares of company stock valued at $20,847,452 over the last 90 days. 15.90% of the stock is currently owned by company insiders.

Elastic Stock Up 2.7%

Shares of Elastic stock traded up $2.42 during trading on Thursday, hitting $93.07. 792,773 shares of the stock traded hands, compared to its average volume of 1,452,259. The company has a fifty day moving average price of $86.40 and a two-hundred day moving average price of $97.38. Elastic has a twelve month low of $69.00 and a twelve month high of $123.96. The stock has a market cap of $9.72 billion, a P/E ratio of 169.00 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) 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 business had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. Equities research analysts predict that Elastic will post -0.77 EPS for the current fiscal year.

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.