Soma Equity Partners LP Buys 376,660 Shares of Elastic (NYSE:ESTC)

Soma Equity Partners LP grew its holdings in shares of Elastic (NYSE:ESTC - Free Report) by 61.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 989,349 shares of the company's stock after purchasing an additional 376,660 shares during the quarter. Elastic comprises approximately 5.4% of Soma Equity Partners LP's portfolio, making the stock its 13th biggest holding. Soma Equity Partners LP owned 0.95% of Elastic worth $98,025,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ESTC. Royal Bank of Canada increased its stake in Elastic by 187.6% in the 4th quarter. Royal Bank of Canada now owns 205,302 shares of the company's stock worth $20,341,000 after acquiring an additional 133,911 shares during the last quarter. Point72 Hong Kong Ltd lifted its position in Elastic by 291.2% in the 4th quarter. Point72 Hong Kong Ltd now owns 49,141 shares of the company's stock worth $4,869,000 after buying an additional 36,578 shares during the last quarter. ProShare Advisors LLC purchased a new stake in Elastic in the fourth quarter worth approximately $300,000. Quantinno Capital Management LP lifted its holdings in shares of Elastic by 52.4% in the 4th quarter. Quantinno Capital Management LP now owns 22,960 shares of the company's stock worth $2,275,000 after acquiring an additional 7,894 shares during the last quarter. Finally, Man Group plc grew its holdings in shares of Elastic by 9,100.2% during the 4th quarter. Man Group plc now owns 244,173 shares of the company's stock valued at $24,193,000 after purchasing an additional 241,519 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Elastic Price Performance

NYSE:ESTC traded down $0.24 during trading hours on Monday, hitting $92.08. 2,191,446 shares of the stock traded hands, compared to its average volume of 1,442,578. The company has a market cap of $9.61 billion, a price-to-earnings ratio of 167.42 and a beta of 1.20. Elastic has a 1 year low of $69.00 and a 1 year high of $123.96. The stock has a 50 day moving average price of $86.43 and a 200 day moving average price of $97.44. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on ESTC. Morgan Stanley cut their price target on shares of Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Robert W. Baird raised their price target on Elastic from $135.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. DA Davidson dropped their price target on shares of Elastic from $115.00 to $75.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Rosenblatt Securities reissued a "buy" rating and set a $130.00 target price on shares of Elastic in a research note on Tuesday, February 25th. Finally, Piper Sandler lifted their price target on shares of Elastic from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Seven 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $126.87.

Insider Buying and Selling

In other Elastic news, CEO Ashutosh Kulkarni sold 5,000 shares of Elastic stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total value of $513,200.00. Following the sale, the chief executive officer now directly owns 371,591 shares in the company, valued at approximately $38,140,100.24. The trade was a 1.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Shay Banon sold 25,668 shares of the firm's stock in a transaction dated Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total value of $2,888,420.04. Following the transaction, the chief technology officer now owns 2,408,541 shares of the company's stock, valued at approximately $271,033,118.73. The trade was a 1.05% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 198,304 shares of company stock valued at $20,847,452. Corporate 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.