Andar Capital Management HK Ltd Trims Stake in Elastic (NYSE:ESTC)

Andar Capital Management HK Ltd cut its stake in Elastic (NYSE:ESTC - Free Report) by 42.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,000 shares of the company's stock after selling 67,000 shares during the period. Elastic accounts for about 11.5% of Andar Capital Management HK Ltd's investment portfolio, making the stock its 3rd biggest position. Andar Capital Management HK Ltd owned approximately 0.09% of Elastic worth $8,917,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Xponance Inc. lifted its position in Elastic by 11.5% during the 4th quarter. Xponance Inc. now owns 11,980 shares of the company's stock valued at $1,187,000 after purchasing an additional 1,231 shares during the period. Thrivent Financial for Lutherans raised its holdings in Elastic by 187.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 9,073 shares of the company's stock worth $899,000 after buying an additional 5,919 shares during the period. Nicholas Company Inc. boosted its stake in Elastic by 3.9% in the 4th quarter. Nicholas Company Inc. now owns 227,624 shares of the company's stock worth $22,553,000 after purchasing an additional 8,578 shares during the period. Picton Mahoney Asset Management acquired a new stake in Elastic in the 4th quarter valued at $4,804,000. Finally, LBP AM SA raised its holdings in Elastic by 181.4% during the fourth quarter. LBP AM SA now owns 153,084 shares of the company's stock worth $15,168,000 after acquiring an additional 98,679 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

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Wall Street Analyst Weigh In

ESTC has been the topic of several recent analyst reports. Barclays boosted their price target on Elastic from $105.00 to $138.00 and gave the stock an "overweight" rating in a research report on Monday, November 25th. UBS Group increased their price target on shares of Elastic from $140.00 to $148.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Rosenblatt Securities restated a "buy" rating and set a $130.00 price objective on shares of Elastic in a research note on Tuesday, February 25th. Morgan Stanley lifted their price target on Elastic from $130.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Finally, Truist Financial upped their price objective on Elastic from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $131.52.

Insider Buying and Selling

In other Elastic news, CRO Mark Eugene Dodds sold 2,755 shares of the company'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 value of $250,071.35. Following the completion of the transaction, the executive now directly owns 96,484 shares in the company, valued at approximately $8,757,852.68. This represents a 2.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Carolyn Herzog sold 3,334 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.78, for a total transaction of $302,660.52. Following the transaction, the insider now directly owns 84,152 shares of the company's stock, valued at $7,639,318.56. The trade was a 3.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 193,304 shares of company stock worth $20,334,252 in the last three months. 15.90% of the stock is owned by corporate insiders.

Elastic Price Performance

Shares of Elastic stock traded up $2.15 on Friday, reaching $96.96. 1,137,838 shares of the stock were exchanged, compared to its average volume of 1,299,386. The firm's 50 day moving average is $105.33 and its 200-day moving average is $95.22. The firm has a market cap of $10.12 billion, a PE ratio of 176.29 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. Elastic has a one year low of $69.00 and a one year high of $123.96.

Elastic (NYSE:ESTC - Get Free Report) last released 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). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The business had revenue of $382.08 million for the quarter, compared to the consensus estimate of $368.85 million. As a group, analysts anticipate that Elastic will post -0.77 EPS for the current fiscal year.

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.