J. Safra Sarasin Holding AG Has $12.67 Million Stock Holdings in Elastic (NYSE:ESTC)

J. Safra Sarasin Holding AG increased its stake in Elastic (NYSE:ESTC - Free Report) by 19.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 127,874 shares of the company's stock after purchasing an additional 20,973 shares during the quarter. J. Safra Sarasin Holding AG owned about 0.12% of Elastic worth $12,670,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ESTC. Vanguard Group Inc. boosted its holdings in shares of Elastic by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company's stock valued at $926,607,000 after acquiring an additional 168,483 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in Elastic by 15.6% in 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 during the period. Geode Capital Management LLC boosted its stake in Elastic by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company's stock valued at $142,663,000 after purchasing an additional 45,076 shares in the last quarter. Norges Bank acquired a new position in shares of Elastic during the 4th quarter valued at $102,485,000. Finally, Federated Hermes Inc. raised its stake in shares of Elastic by 15.4% in the 4th quarter. Federated Hermes Inc. now owns 884,400 shares of the company's stock worth $87,626,000 after buying an additional 118,294 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

Elastic Stock Performance

NYSE ESTC traded up $4.35 during midday trading on Thursday, hitting $81.89. The company had a trading volume of 2,725,907 shares, compared to its average volume of 1,380,564. The firm has a fifty day simple moving average of $92.21 and a two-hundred day simple moving average of $96.39. The stock has a market cap of $8.55 billion, a price-to-earnings ratio of 148.89 and a beta of 1.19. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96.

Elastic (NYSE:ESTC - Get Free Report) last issued 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). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The firm had revenue of $382.08 million for the quarter, compared to the consensus estimate of $368.85 million. Equities analysts forecast that Elastic will post -0.77 earnings per share for the current fiscal year.

Insider Activity

In related 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 sale, the chief executive officer now owns 376,591 shares of the company's stock, valued at $34,183,165.07. The trade was a 4.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Shay Banon sold 140,129 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $106.68, for a total value of $14,948,961.72. Following the transaction, the chief technology officer now owns 2,254,978 shares of the company's stock, valued at $240,561,053.04. This represents a 5.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 198,304 shares of company stock worth $20,847,452. 15.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ESTC has been the topic of a number of research analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $130.00 target price on shares of Elastic in a report on Tuesday, February 25th. Cantor Fitzgerald initiated coverage on shares of Elastic in a report on Friday, January 17th. They set a "neutral" rating and a $108.00 target price for the company. Guggenheim raised their price objective on Elastic from $130.00 to $136.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Piper Sandler lifted 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, DA Davidson dropped their target price on shares of Elastic from $115.00 to $75.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $127.48.

Elastic 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.