FIL Ltd Cuts Stock Position in Elastic (NYSE:ESTC)

FIL Ltd decreased its position in Elastic (NYSE:ESTC - Free Report) by 22.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,472,402 shares of the company's stock after selling 707,478 shares during the quarter. FIL Ltd owned approximately 2.39% of Elastic worth $244,966,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in Elastic by 12.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 16,431 shares of the company's stock valued at $1,261,000 after buying an additional 1,757 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in Elastic by 25.7% during the third quarter. Quantinno Capital Management LP now owns 15,066 shares of the company's stock worth $1,156,000 after acquiring an additional 3,082 shares during the period. Stifel Financial Corp boosted its position in Elastic by 10.7% in the third quarter. Stifel Financial Corp now owns 19,564 shares of the company's stock worth $1,502,000 after purchasing an additional 1,898 shares during the last quarter. State Street Corp grew its stake in Elastic by 2.3% in the 3rd quarter. State Street Corp now owns 1,437,243 shares of the company's stock valued at $110,323,000 after purchasing an additional 31,663 shares during the period. Finally, Wellington Management Group LLP grew its stake in Elastic by 138.5% in the 3rd quarter. Wellington Management Group LLP now owns 9,134 shares of the company's stock valued at $701,000 after purchasing an additional 5,305 shares during the period. Hedge funds and other institutional investors own 97.03% of the company's stock.

Remove Ads

Elastic Trading Up 0.9 %

ESTC traded up $0.71 on Monday, hitting $80.54. 206,628 shares of the company were exchanged, compared to its average volume of 1,356,096. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The firm has a fifty day simple moving average of $98.83 and a two-hundred day simple moving average of $96.57. The stock has a market capitalization of $8.41 billion, a PE ratio of 146.44 and a beta of 1.19. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on ESTC shares. Canaccord Genuity Group increased their price target on shares of Elastic from $130.00 to $135.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Morgan Stanley increased their target price on shares of Elastic from $130.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Piper Sandler lifted their price target on shares of Elastic from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Wells Fargo & Company increased their price objective on Elastic from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Finally, Cantor Fitzgerald started coverage on Elastic in a research note on Friday, January 17th. They set a "neutral" rating and a $108.00 price target for the company. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Elastic has a consensus rating of "Moderate Buy" and an average target price of $130.09.

Insiders Place Their Bets

In other news, CTO Shay Banon sold 140,129 shares of Elastic stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the sale, the chief technology officer now owns 2,254,978 shares of the company's stock, valued at approximately $240,561,053.04. The trade was a 5.85 % decrease in their position. The sale 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 stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction 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 approximately $34,183,165.07. The trade was a 4.74 % 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 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.