Thematics Asset Management Reduces Position in Elastic (NYSE:ESTC)

Thematics Asset Management cut its holdings in shares of Elastic (NYSE:ESTC - Free Report) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 401,012 shares of the company's stock after selling 43,000 shares during the quarter. Elastic comprises 1.7% of Thematics Asset Management's investment portfolio, making the stock its 10th biggest position. Thematics Asset Management owned about 0.39% of Elastic worth $39,732,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Stifel Financial Corp lifted its holdings in shares of Elastic by 10.7% in the 3rd quarter. Stifel Financial Corp now owns 19,564 shares of the company's stock worth $1,502,000 after acquiring an additional 1,898 shares during the last quarter. Wellington Management Group LLP lifted its stake in Elastic by 138.5% during the third quarter. Wellington Management Group LLP now owns 9,134 shares of the company's stock worth $701,000 after purchasing an additional 5,305 shares in the last quarter. Barclays PLC boosted 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 worth $11,757,000 after buying an additional 55,084 shares during the period. Virtu Financial LLC grew its stake in shares of Elastic by 131.9% in the third quarter. Virtu Financial LLC now owns 4,338 shares of the company's stock valued at $333,000 after buying an additional 2,467 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in Elastic by 239.1% during the 3rd quarter. Tidal Investments LLC now owns 9,807 shares of the company's stock worth $753,000 after acquiring an additional 6,915 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Rosenblatt Securities restated a "buy" rating and issued a $130.00 price objective on shares of Elastic in a report on Tuesday, February 25th. Piper Sandler lifted their target price on Elastic from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Guggenheim upped their price target on Elastic from $130.00 to $136.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Cantor Fitzgerald assumed 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. Finally, Scotiabank reduced their target price on shares of Elastic from $140.00 to $137.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 27th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $127.48.

Insiders Place Their Bets

In other Elastic news, CEO Ashutosh Kulkarni sold 18,735 shares of Elastic 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 in the company, valued at approximately $34,183,165.07. The trade was a 4.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Mark Eugene Dodds sold 2,755 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $250,071.35. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,304 shares of company stock worth $20,847,452. 15.90% of the stock is owned by corporate insiders.

Elastic Stock Up 2.2 %

Elastic stock traded up $1.83 during midday trading on Friday, hitting $83.95. The stock had a trading volume of 737,289 shares, compared to its average volume of 1,508,485. The business has a fifty day moving average price of $92.21 and a 200 day moving average price of $96.39. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96. The stock has a market cap of $8.76 billion, a P/E ratio of 152.63 and a beta of 1.19. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70.

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 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 for the quarter, compared to the consensus estimate of $368.85 million. Research analysts predict that Elastic will post -0.77 EPS for the current 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.