Elastic (NYSE:ESTC) Holdings Cut by Achmea Investment Management B.V.

Achmea Investment Management B.V. decreased its holdings in shares of Elastic (NYSE:ESTC - Free Report) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 167,044 shares of the company's stock after selling 12,249 shares during the period. Achmea Investment Management B.V. owned approximately 0.16% of Elastic worth $16,550,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic during the 4th quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new position in shares of Elastic during the 4th quarter worth approximately $25,000. Venturi Wealth Management LLC increased its stake in shares of Elastic by 793.3% during the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock worth $27,000 after purchasing an additional 238 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Elastic by 126.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock worth $28,000 after purchasing an additional 158 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in Elastic by 1,065.2% in the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock worth $53,000 after acquiring an additional 490 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

Insider Activity

In related news, CEO Ashutosh Kulkarni sold 7,017 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total transaction of $758,678.04. Following the completion of the sale, the chief executive officer now directly owns 395,326 shares in the company, valued at approximately $42,742,647.12. This trade represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Carolyn Herzog sold 3,334 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $90.78, for a total transaction of $302,660.52. Following the sale, the insider now owns 84,152 shares of the company's stock, valued at $7,639,318.56. The trade was a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 200,321 shares of company stock worth $21,092,930 over the last three months. Corporate insiders own 15.90% of the company's stock.

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Elastic Stock Performance

Shares of NYSE:ESTC traded down $7.07 during trading hours on Thursday, hitting $91.49. The stock had a trading volume of 2,208,788 shares, compared to its average volume of 1,309,052. The stock's fifty day simple moving average is $105.96 and its 200 day simple moving average is $95.10. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96. The firm has a market capitalization of $9.55 billion, a price-to-earnings ratio of 166.35 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 announced its quarterly 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). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The firm had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. Sell-side analysts anticipate that Elastic will post -0.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler lifted their target price on shares of Elastic from $130.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Stifel Nicolaus lifted their target price on shares of Elastic from $98.00 to $132.00 and gave the stock a "buy" rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. lifted their target price on shares of Elastic from $100.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. Wedbush lowered shares of Elastic from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 18th. Finally, Royal Bank of Canada lifted their price target on shares of Elastic from $110.00 to $130.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $131.52.

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.