Geode Capital Management LLC Boosts Holdings in Elastic (NYSE:ESTC)

Geode Capital Management LLC lifted its stake in shares of Elastic (NYSE:ESTC - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,439,412 shares of the company's stock after buying an additional 45,076 shares during the quarter. Geode Capital Management LLC owned approximately 1.39% of Elastic worth $142,663,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its holdings in Elastic by 5,972.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company's stock worth $73,751,000 after acquiring an additional 732,100 shares in the last quarter. Pamplona Capital Management LLC purchased a new stake in shares of Elastic during the 4th quarter worth $20,866,000. Pictet Asset Management Holding SA grew its stake 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 worth $339,820,000 after purchasing an additional 462,974 shares in the last quarter. Norges Bank purchased a new position in Elastic in the fourth quarter valued at $102,485,000. Finally, WINTON GROUP Ltd acquired a new stake in Elastic in the fourth quarter valued at $1,642,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Elastic Price Performance

ESTC traded up $0.92 during trading on Friday, reaching $79.70. 1,261,740 shares of the stock were exchanged, compared to its average volume of 1,360,332. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The company has a market capitalization of $8.32 billion, a price-to-earnings ratio of 144.90 and a beta of 1.19. Elastic has a 1 year low of $69.00 and a 1 year high of $123.96. The business's 50 day moving average price is $98.83 and its two-hundred day moving average price is $96.44.

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Elastic (NYSE:ESTC - Get Free Report) last released its quarterly 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 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%. As a group, equities research analysts anticipate that Elastic will post -0.77 earnings per share for the current year.

Wall Street Analyst Weigh In

ESTC has been the subject of several analyst reports. Cantor Fitzgerald began coverage on Elastic in a research report on Friday, January 17th. They set a "neutral" rating and a $108.00 price objective for the company. Scotiabank dropped their price target on shares of Elastic from $140.00 to $137.00 and set a "sector outperform" rating on the stock in a research note on Thursday, March 27th. Robert W. Baird boosted their price objective on shares of Elastic from $135.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Canaccord Genuity Group upped their target price on shares of Elastic from $130.00 to $135.00 and gave the company a "buy" rating in a report on Friday, February 28th. Finally, Wells Fargo & Company raised their price target on Elastic from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Seven equities 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 company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $130.09.

Insider Buying and Selling at Elastic

In other news, CEO Ashutosh Kulkarni sold 18,735 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $1,700,575.95. Following the completion of the transaction, the chief executive officer now directly owns 376,591 shares of the company's stock, valued at $34,183,165.07. The trade was a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Carolyn Herzog sold 3,334 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.78, for a total value of $302,660.52. Following the sale, the insider now directly owns 84,152 shares in the company, valued at approximately $7,639,318.56. The trade was a 3.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 198,304 shares of company stock valued at $20,847,452 over the last quarter. Corporate insiders own 15.90% of the company's stock.

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.