Elastic (NYSE:ESTC) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lessened its holdings in shares of Elastic (NYSE:ESTC - Free Report) by 21.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,995,103 shares of the company's stock after selling 801,918 shares during the quarter. Voya Investment Management LLC owned about 2.89% of Elastic worth $296,755,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Sigma Planning Corp raised its position in shares of Elastic by 3.7% during the fourth quarter. Sigma Planning Corp now owns 3,929 shares of the company's stock valued at $389,000 after buying an additional 139 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Elastic by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,053 shares of the company's stock valued at $302,000 after acquiring an additional 151 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Elastic by 126.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock valued at $28,000 after buying an additional 158 shares in the last quarter. Resolute Advisors LLC raised its stake in Elastic by 7.1% during the fourth quarter. Resolute Advisors LLC now owns 3,255 shares of the company's stock valued at $323,000 after purchasing an additional 217 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in Elastic by 0.7% during the fourth quarter. Van ECK Associates Corp now owns 32,954 shares of the company's stock valued at $3,265,000 after purchasing an additional 220 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Elastic

In other news, CEO Ashutosh Kulkarni sold 18,735 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the sale, the chief executive officer now owns 376,591 shares in the company, valued at approximately $34,183,165.07. The trade was a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Shay Banon sold 140,129 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the completion of the transaction, the chief technology officer now directly owns 2,254,978 shares of the company's stock, valued at approximately $240,561,053.04. This represents a 5.85 % decrease in their position. 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 in the last 90 days. Insiders own 15.90% of the company's stock.

Elastic Stock Up 1.3 %

Shares of NYSE ESTC traded up $1.08 during midday trading on Tuesday, reaching $85.88. 362,492 shares of the company's stock traded hands, compared to its average volume of 1,512,560. The company has a market cap of $8.97 billion, a price-to-earnings ratio of 156.15 and a beta of 1.19. The stock's 50 day simple moving average is $91.05 and its 200-day simple moving average is $96.67. 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 has a one year low of $69.00 and a one year high of $123.96.

Elastic (NYSE:ESTC - Get Free Report) last announced 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). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The company had revenue of $382.08 million for the quarter, compared to the consensus estimate of $368.85 million. On average, analysts predict that Elastic will post -0.77 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on ESTC. 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. Wells Fargo & Company upped their price objective on Elastic from $135.00 to $150.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Canaccord Genuity Group lifted their target price on Elastic from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Piper Sandler increased their price target on Elastic from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Finally, Morgan Stanley dropped their price objective on shares of Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Seven investment 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.48.

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.