Elastic (NYSE:ESTC) Shares Sold by Fmr LLC

FMR LLC decreased its holdings in shares of Elastic (NYSE:ESTC - Free Report) by 20.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,378,422 shares of the company's stock after selling 1,096,875 shares during the quarter. FMR LLC owned about 4.23% of Elastic worth $433,814,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Elastic in the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. bought a new position in shares of Elastic during the 4th quarter worth $25,000. Venturi Wealth Management LLC increased its stake in shares of Elastic by 793.3% during the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock valued at $27,000 after buying an additional 238 shares during the period. Smartleaf Asset Management LLC lifted its stake in Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock worth $28,000 after acquiring an additional 158 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in Elastic by 1,065.2% during the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock worth $53,000 after acquiring an additional 490 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Elastic Trading Up 1.1 %

Shares of NYSE ESTC traded up $0.90 during trading on Tuesday, reaching $80.32. The stock had a trading volume of 352,070 shares, compared to its average volume of 1,355,782. The company has a market cap of $8.39 billion, a P/E ratio of 146.15 and a beta of 1.19. 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 business's 50-day moving average price is $98.12 and its 200-day moving average price is $96.59. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96.

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Elastic (NYSE:ESTC - Get Free Report) last announced 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 analysts' expectations of $368.85 million. On average, equities research analysts predict that Elastic will post -0.77 EPS for the current fiscal year.

Insider Activity

In other news, insider Carolyn Herzog sold 3,334 shares of Elastic stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.78, for a total transaction of $302,660.52. Following the sale, the insider now owns 84,152 shares in the company, valued at approximately $7,639,318.56. The trade was a 3.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total value of $513,200.00. Following the transaction, the chief executive officer now owns 371,591 shares in the company, valued at $38,140,100.24. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 198,304 shares of company stock worth $20,847,452. 15.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

ESTC has been the subject of several research reports. Cantor Fitzgerald started coverage on shares of Elastic in a research report on Friday, January 17th. They issued a "neutral" rating and a $108.00 price target for the company. Jefferies Financial Group dropped their price objective on Elastic from $125.00 to $110.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. 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 note on Friday, February 28th. Canaccord Genuity Group upped their price target on Elastic from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, Wedbush cut Elastic from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Elastic has a consensus rating of "Moderate Buy" and an average price target of $128.35.

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.