CenterBook Partners LP Decreases Stock Holdings in Elastic (NYSE:ESTC)

CenterBook Partners LP cut its stake in shares of Elastic (NYSE:ESTC - Free Report) by 93.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,793 shares of the company's stock after selling 108,812 shares during the period. CenterBook Partners LP's holdings in Elastic were worth $772,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ESTC. Quantinno Capital Management LP increased its holdings in shares of Elastic by 25.7% in the third quarter. Quantinno Capital Management LP now owns 15,066 shares of the company's stock valued at $1,156,000 after purchasing an additional 3,082 shares during the period. Stifel Financial Corp increased its stake in Elastic by 10.7% in the 3rd quarter. Stifel Financial Corp now owns 19,564 shares of the company's stock valued at $1,502,000 after buying an additional 1,898 shares during the period. State Street Corp raised its position in Elastic by 2.3% during the 3rd quarter. State Street Corp now owns 1,437,243 shares of the company's stock worth $110,323,000 after buying an additional 31,663 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Elastic by 138.5% in the 3rd quarter. Wellington Management Group LLP now owns 9,134 shares of the company's stock worth $701,000 after acquiring an additional 5,305 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Elastic in the third quarter valued at about $293,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ESTC. Rosenblatt Securities reissued a "buy" rating and set a $130.00 price target on shares of Elastic in a report on Tuesday, February 25th. Morgan Stanley increased their target price on Elastic from $130.00 to $140.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. UBS Group lifted their price target on Elastic from $140.00 to $148.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Robert W. Baird increased their price objective on Elastic from $135.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company boosted 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. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $128.35.

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Elastic Trading Up 0.5 %

Shares of NYSE ESTC traded up $0.36 during midday trading on Tuesday, reaching $79.78. 1,830,596 shares of the stock were exchanged, compared to its average volume of 1,362,018. The stock has a 50 day moving average price of $97.43 and a 200-day moving average price of $96.47. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $8.33 billion, a P/E ratio of 145.05 and a beta of 1.19. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96.

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). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The firm had revenue of $382.08 million during the quarter, compared to analysts' expectations of $368.85 million. Equities research 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 stock in a transaction that occurred on Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total transaction 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 trade represents a 1.05 % 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, CEO Ashutosh Kulkarni sold 18,735 shares of the business's stock in a transaction 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 sale, the chief executive officer now directly owns 376,591 shares of the company's stock, valued at $34,183,165.07. This 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 have sold 198,304 shares of company stock worth $20,847,452. 15.90% of the stock is owned by company insiders.

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.