Amundi Purchases 179,054 Shares of Elastic (NYSE:ESTC)

Amundi grew its position in shares of Elastic (NYSE:ESTC - Free Report) by 27.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 832,470 shares of the company's stock after acquiring an additional 179,054 shares during the period. Amundi owned about 0.80% of Elastic worth $81,615,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ESTC. Geneos Wealth Management Inc. bought a new position in shares of Elastic during the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. bought a new position in shares of Elastic during the fourth quarter valued at about $25,000. Venturi Wealth Management LLC raised its stake in shares of Elastic by 793.3% during the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock valued at $27,000 after acquiring an additional 238 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock valued at $28,000 after acquiring an additional 158 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in shares of Elastic by 1,065.2% during the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock valued at $53,000 after acquiring an additional 490 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Piper Sandler boosted their price target on shares of Elastic from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Jefferies Financial Group boosted their price target on shares of Elastic from $110.00 to $135.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. Canaccord Genuity Group boosted their price target on shares of Elastic from $130.00 to $135.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Stifel Nicolaus boosted their price target on shares of Elastic from $98.00 to $132.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. Finally, Truist Financial boosted their price target on shares of Elastic from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $131.52.

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Insider Transactions at Elastic

In related news, CEO Ashutosh Kulkarni sold 7,017 shares of the 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 transaction, the chief executive officer now owns 395,326 shares in the company, valued at $42,742,647.12. This represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Shay Banon sold 140,129 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the transaction, the chief technology officer now owns 2,254,978 shares in the company, valued at approximately $240,561,053.04. This trade represents a 5.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 172,814 shares of company stock worth $18,596,060. Corporate insiders own 15.90% of the company's stock.

Elastic Trading Up 6.7 %

Shares of NYSE ESTC opened at $97.27 on Wednesday. The firm's 50 day moving average price is $106.00 and its 200-day moving average price is $95.13. The company has a market cap of $10.16 billion, a PE ratio of 176.85 and a beta of 1.20. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96. 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 issued 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). 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%. On average, equities research analysts expect that Elastic will post -0.77 EPS for the current fiscal 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.

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