Grandeur Peak Global Advisors LLC Sells 53,159 Shares of Elastic (NYSE:ESTC)

Grandeur Peak Global Advisors LLC cut its holdings in shares of Elastic (NYSE:ESTC - Free Report) by 11.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 396,798 shares of the company's stock after selling 53,159 shares during the quarter. Elastic comprises approximately 3.5% of Grandeur Peak Global Advisors LLC's portfolio, making the stock its 6th biggest holding. Grandeur Peak Global Advisors LLC owned approximately 0.38% of Elastic worth $39,315,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Elastic by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company's stock worth $926,607,000 after buying an additional 168,483 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in Elastic by 15.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock valued at $339,820,000 after acquiring an additional 462,974 shares during the period. Geode Capital Management LLC increased its holdings in shares of Elastic by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company's stock worth $142,663,000 after purchasing an additional 45,076 shares during the period. State Street Corp lifted its holdings in shares of Elastic by 2.3% during the 3rd quarter. State Street Corp now owns 1,437,243 shares of the company's stock worth $110,323,000 after acquiring an additional 31,663 shares during the period. Finally, Norges Bank bought a new position in shares of Elastic during the fourth quarter valued at $102,485,000. Institutional investors and hedge funds own 97.03% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts have commented on ESTC shares. Wells Fargo & Company upped their target price on shares of Elastic from $135.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $130.00 target price on shares of Elastic in a report on Tuesday, February 25th. Guggenheim raised their price target on shares of Elastic from $130.00 to $136.00 and gave the company a "buy" rating in a research note on Friday, February 28th. UBS Group raised their price objective on shares of Elastic from $140.00 to $148.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group lowered their price objective on Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $128.35.

Elastic Stock Performance

Shares of ESTC traded up $0.36 during mid-day trading on Tuesday, hitting $79.78. The stock had a trading volume of 1,830,596 shares, compared to its average volume of 1,362,018. The company has a market cap of $8.33 billion, a PE ratio of 145.05 and a beta of 1.19. The company's fifty day simple moving average is $97.43 and its two-hundred day simple moving average is $96.47. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96. 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 (NYSE:ESTC - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates 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. On average, equities analysts expect that Elastic will post -0.77 earnings per share for the current year.

Insiders Place Their Bets

In other Elastic news, CEO Ashutosh Kulkarni sold 18,735 shares of Elastic stock in a transaction on Monday, March 10th. The shares were 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 directly owns 376,591 shares in the company, valued at approximately $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 accessible through this link. Also, CTO Shay Banon sold 25,668 shares of Elastic stock in a transaction that occurred on Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total value of $2,888,420.04. Following the transaction, the chief technology officer now owns 2,408,541 shares of the company's stock, valued at $271,033,118.73. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 198,304 shares of company stock valued at $20,847,452 in the last three months. Company insiders own 15.90% of the company's stock.

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.