Avantax Advisory Services Inc. Takes $1 Million Position in Elastic (NYSE:ESTC)

Avantax Advisory Services Inc. purchased a new position in shares of Elastic (NYSE:ESTC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,131 shares of the company's stock, valued at approximately $1,004,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ESTC. FMR LLC increased its stake in shares of Elastic by 25.6% during the third quarter. FMR LLC now owns 5,475,297 shares of the company's stock worth $420,284,000 after acquiring an additional 1,115,750 shares during the period. Atreides Management LP boosted its holdings in Elastic by 57.2% during the third quarter. Atreides Management LP now owns 1,687,791 shares of the company's stock worth $129,555,000 after buying an additional 614,309 shares in the last quarter. JAT Capital Mgmt LP grew its position in Elastic by 601.4% during the third quarter. JAT Capital Mgmt LP now owns 465,549 shares of the company's stock worth $35,736,000 after buying an additional 399,175 shares during the period. Thematics Asset Management grew its position in Elastic by 463.3% during the third quarter. Thematics Asset Management now owns 444,012 shares of the company's stock worth $34,082,000 after buying an additional 365,192 shares during the period. Finally, Franklin Resources Inc. grew its position in Elastic by 256.3% during the third quarter. Franklin Resources Inc. now owns 341,524 shares of the company's stock worth $28,387,000 after buying an additional 245,680 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Elastic news, CRO Mark Eugene Dodds sold 2,755 shares of the 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 $250,071.35. Following the transaction, the executive now owns 96,484 shares of the company's stock, valued at $8,757,852.68. This trade represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Carolyn Herzog sold 3,334 shares of the 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 transaction, the insider now directly owns 84,152 shares in the company, valued at approximately $7,639,318.56. This represents a 3.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 193,304 shares of company stock valued at $20,334,252 over the last quarter. Company insiders own 15.90% of the company's stock.

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Elastic Trading Up 2.3 %

NYSE ESTC traded up $2.15 during mid-day trading on Friday, reaching $96.96. 1,137,838 shares of the stock were exchanged, compared to its average volume of 1,299,386. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96. The business's fifty day simple moving average is $105.33 and its 200 day simple moving average is $95.22. The stock has a market capitalization of $10.12 billion, a PE ratio of 176.29 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 earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.48). The firm 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%. On average, research analysts anticipate that Elastic will post -0.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

ESTC has been the topic of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Elastic from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. UBS Group upped their target price on shares of Elastic from $140.00 to $148.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Barclays upped their target price on shares of Elastic from $105.00 to $138.00 and gave the stock an "overweight" rating in a research report on Monday, November 25th. Citigroup upped their target price on shares of Elastic from $136.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Finally, Wedbush lowered shares of Elastic from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Seven research 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $131.52.

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.