Bank of Montreal Can Cuts Stock Holdings in Elastic (NYSE:ESTC)

Bank of Montreal Can cut its position in shares of Elastic (NYSE:ESTC - Free Report) by 45.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,830 shares of the company's stock after selling 23,255 shares during the quarter. Bank of Montreal Can's holdings in Elastic were worth $2,757,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ESTC. Vanguard Group Inc. raised its holdings in Elastic by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company's stock worth $926,607,000 after acquiring an additional 168,483 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Elastic by 15.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock valued at $339,820,000 after purchasing an additional 462,974 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Elastic by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company's stock valued at $142,663,000 after buying an additional 45,076 shares during the last quarter. Norges Bank purchased a new position in Elastic in the 4th quarter worth about $102,485,000. Finally, Federated Hermes Inc. lifted its stake in Elastic by 15.4% during the 4th quarter. Federated Hermes Inc. now owns 884,400 shares of the company's stock valued at $87,626,000 after acquiring an additional 118,294 shares during the period. Institutional investors own 97.03% of the company's stock.

Elastic Price Performance

Shares of Elastic stock traded down $2.91 during trading hours on Monday, reaching $74.97. The stock had a trading volume of 140,226 shares, compared to its average volume of 1,361,530. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a twelve month low of $69.00 and a twelve month high of $123.96. The stock's 50 day moving average is $95.22 and its 200 day moving average is $96.65. The firm has a market capitalization of $7.83 billion, a PE ratio of 136.39 and a beta of 1.19.

Elastic (NYSE:ESTC - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.48). The business 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%. Equities analysts expect that Elastic will post -0.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Elastic news, CTO Shay Banon sold 25,668 shares of the company's stock in a transaction dated Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total value of $2,888,420.04. Following the transaction, the chief technology officer now owns 2,408,541 shares of the company's stock, valued at $271,033,118.73. This represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the business's 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 $1,700,575.95. Following the completion of the sale, the chief executive officer now directly owns 376,591 shares in the company, valued at $34,183,165.07. This trade represents a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,304 shares of company stock worth $20,847,452. 15.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Truist Financial lowered their price objective on shares of Elastic from $145.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Scotiabank cut their target price on Elastic from $140.00 to $137.00 and set a "sector outperform" rating for the company in a research report on Thursday, March 27th. DA Davidson lowered their price target on Elastic from $115.00 to $75.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Piper Sandler upped their price target on Elastic from $130.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $130.00 price objective on shares of Elastic in a research report on Tuesday, February 25th. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $127.48.

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.