Elastic (NYSE:ESTC) Stock Position Trimmed by First Trust Advisors LP

First Trust Advisors LP lessened its stake in shares of Elastic (NYSE:ESTC - Free Report) by 48.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 247,845 shares of the company's stock after selling 232,162 shares during the quarter. First Trust Advisors LP owned approximately 0.24% of Elastic worth $24,556,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ESTC. Barclays PLC increased its position in Elastic by 56.2% during the 3rd quarter. Barclays PLC now owns 153,155 shares of the company's stock worth $11,757,000 after purchasing an additional 55,084 shares in the last quarter. Virtu Financial LLC grew its holdings in Elastic by 131.9% in the 3rd quarter. Virtu Financial LLC now owns 4,338 shares of the company's stock valued at $333,000 after buying an additional 2,467 shares during the period. Tidal Investments LLC grew its holdings in Elastic by 239.1% in the 3rd quarter. Tidal Investments LLC now owns 9,807 shares of the company's stock valued at $753,000 after buying an additional 6,915 shares during the period. Franklin Resources Inc. grew its holdings in Elastic by 256.3% in the 3rd quarter. Franklin Resources Inc. now owns 341,524 shares of the company's stock valued at $28,387,000 after buying an additional 245,680 shares during the period. Finally, Oddo BHF Asset Management Sas purchased a new stake in Elastic in the 3rd quarter valued at about $14,324,000. Hedge funds and other institutional investors own 97.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ESTC. Guggenheim lifted their price target on Elastic from $130.00 to $136.00 and gave the company a "buy" rating in a report on Friday, February 28th. Scotiabank lowered their price target on Elastic from $140.00 to $137.00 and set a "sector outperform" rating for the company in a report on Thursday, March 27th. Canaccord Genuity Group lifted their price target on Elastic from $130.00 to $135.00 and gave the company a "buy" rating in a report on Friday, February 28th. Jefferies Financial Group decreased their target price on Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a report on Monday, April 7th. Finally, DA Davidson decreased their target price on Elastic from $115.00 to $75.00 and set a "neutral" rating for the company in a report on Monday, April 14th. 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $127.48.

Insider Buying and Selling at Elastic

In related news, CEO Ashutosh Kulkarni sold 5,000 shares of Elastic stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total value of $513,200.00. Following the sale, the chief executive officer now directly owns 371,591 shares in the company, valued at $38,140,100.24. This trade represents a 1.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Mark Eugene Dodds sold 2,755 shares of Elastic stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.77, for a total transaction of $250,071.35. Following the completion of the sale, the executive now owns 96,484 shares in the company, valued at approximately $8,757,852.68. This represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,304 shares of company stock worth $20,847,452. 15.90% of the stock is owned by insiders.

Elastic Stock Performance

Shares of ESTC stock traded up $1.12 on Tuesday, hitting $85.92. 1,143,034 shares of the stock traded hands, compared to its average volume of 1,386,226. 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 $8.97 billion, a PE ratio of 156.21 and a beta of 1.19. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96. The company's fifty day moving average is $91.05 and its 200 day moving average is $96.67.

Elastic (NYSE:ESTC - Get Free Report) last posted 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 net margin of 4.39% and a negative return on equity of 13.20%. On average, equities research analysts predict that Elastic will post -0.77 earnings per share 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.