Cooper Creek Partners Management LLC Trims Stake in Elastic (NYSE:ESTC)

Cooper Creek Partners Management LLC cut its holdings in shares of Elastic (NYSE:ESTC - Free Report) by 78.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 95,722 shares of the company's stock after selling 353,723 shares during the period. Cooper Creek Partners Management LLC owned 0.09% of Elastic worth $9,484,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new stake in Elastic during the 4th quarter worth $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Elastic during the fourth quarter worth about $25,000. Venturi Wealth Management LLC lifted its holdings in shares of Elastic by 793.3% during the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock valued at $27,000 after purchasing an additional 238 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock valued at $28,000 after purchasing an additional 158 shares during the period. Finally, Global Retirement Partners LLC increased its stake in Elastic by 1,065.2% during the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock worth $53,000 after purchasing an additional 490 shares in the last quarter. 97.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Elastic

In related news, CEO Ashutosh Kulkarni sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total transaction of $513,200.00. Following the transaction, the chief executive officer now directly owns 371,591 shares of the company's stock, valued at approximately $38,140,100.24. This represents a 1.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Shay Banon sold 25,668 shares of Elastic stock in a transaction on Sunday, March 2nd. The stock was 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 directly owns 2,408,541 shares in the company, valued at $271,033,118.73. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 198,304 shares of company stock worth $20,847,452 over the last 90 days. Insiders own 15.90% of the company's stock.

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Elastic Stock Performance

Shares of NYSE:ESTC traded up $0.36 on Tuesday, reaching $79.78. 1,830,596 shares of the company's stock were exchanged, compared to its average volume of 1,362,023. 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 company has a fifty day moving average of $97.43 and a 200-day moving average of $96.47. The company has a market capitalization of $8.33 billion, a price-to-earnings ratio of 145.05 and a beta of 1.19.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.48). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The company had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. On average, research analysts predict that Elastic will post -0.77 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Guggenheim raised their price objective on shares of Elastic from $130.00 to $136.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Morgan Stanley upped their price objective on Elastic from $130.00 to $140.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Wedbush lowered Elastic from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Piper Sandler raised their price target 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. Finally, Scotiabank lowered their price objective on shares of Elastic from $140.00 to $137.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 27th. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Elastic currently has a consensus rating of "Moderate Buy" and a consensus target price of $128.35.

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.