Elastic (NYSE:ESTC) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lessened its stake in shares of Elastic (NYSE:ESTC - Free Report) by 21.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,910 shares of the company's stock after selling 11,454 shares during the quarter. Wells Fargo & Company MN's holdings in Elastic were worth $4,152,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. SBI Securities Co. Ltd. purchased a new position in shares of Elastic in the fourth quarter worth $25,000. Geneos Wealth Management Inc. purchased a new position in shares of Elastic in the fourth quarter worth about $25,000. Venturi Wealth Management LLC boosted its position in Elastic by 793.3% in the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock valued at $27,000 after buying an additional 238 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in 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 during the period. Finally, Global Retirement Partners LLC raised its position in Elastic by 1,065.2% during the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock worth $53,000 after buying an additional 490 shares during the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elastic

In other news, CTO Shay Banon sold 25,668 shares of the business's stock in a transaction dated Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total value of $2,888,420.04. Following the completion of the sale, the chief technology officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $1,700,575.95. Following the transaction, the chief executive officer now owns 376,591 shares in the company, valued at $34,183,165.07. This represents a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 198,304 shares of company stock worth $20,847,452 over the last three months. Insiders own 15.90% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Truist Financial reduced their target price on shares of Elastic from $145.00 to $140.00 and set a "buy" rating for the company in a report on Monday, March 31st. Wells Fargo & Company boosted their price target on Elastic from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Cantor Fitzgerald started coverage on shares of Elastic in a report on Friday, January 17th. They set a "neutral" rating and a $108.00 price target on the stock. Jefferies Financial Group dropped their price target on shares of Elastic from $125.00 to $110.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, Robert W. Baird upped their price objective on shares of Elastic from $135.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $127.48.

Elastic Stock Up 2.2 %

ESTC stock traded up $1.79 during midday trading on Friday, hitting $83.91. The company's stock had a trading volume of 1,812,816 shares, compared to its average volume of 1,384,039. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96. The firm has a 50-day simple moving average of $91.59 and a 200-day simple moving average of $96.44. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $8.76 billion, a P/E ratio of 152.56 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) EPS for the quarter, missing the consensus estimate of $0.47 by ($0.48). The company had revenue of $382.08 million for the quarter, compared to analyst estimates of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. As a group, equities analysts forecast that Elastic will post -0.77 EPS for the current year.

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.