HBK Investments L P Makes New $991,000 Investment in Elastic (NYSE:ESTC)

HBK Investments L P bought a new stake in Elastic (NYSE:ESTC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,000 shares of the company's stock, valued at approximately $991,000.

Other hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. bought a new stake in shares of Elastic in the fourth quarter worth $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Elastic in the 4th quarter valued at about $25,000. Venturi Wealth Management LLC lifted its position in shares of Elastic by 793.3% during the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock worth $27,000 after purchasing an additional 238 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock valued at $28,000 after buying an additional 158 shares in the last quarter. Finally, Global Retirement Partners LLC lifted 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 buying an additional 490 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Elastic Stock Up 1.3 %

Shares of NYSE:ESTC traded up $1.12 during midday trading on Tuesday, hitting $85.92. 1,143,034 shares of the stock were exchanged, compared to its average volume of 1,522,359. The business's fifty day simple moving average is $91.05 and its two-hundred day simple moving average is $96.67. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96. The company has a market capitalization of $8.97 billion, a PE ratio of 156.21 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.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly 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 company had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. As a group, research analysts predict that Elastic will post -0.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ESTC has been the topic of several research analyst reports. 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. DA Davidson decreased their price target on shares of Elastic from $115.00 to $75.00 and set a "neutral" rating for the company in a report on Monday, April 14th. UBS Group increased their price objective on shares of Elastic from $140.00 to $148.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Truist Financial reduced their target price on shares of Elastic from $145.00 to $140.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Jefferies Financial Group cut their price objective on shares of Elastic from $125.00 to $110.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Seven 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 company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $127.48.

Insider Activity at Elastic

In other news, CEO Ashutosh Kulkarni sold 18,735 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were 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. This trade represents a 4.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Shay Banon sold 25,668 shares of the firm's stock in a transaction dated Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total transaction 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 approximately $271,033,118.73. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 198,304 shares of company stock worth $20,847,452 in the last 90 days. 15.90% of the stock is owned by company insiders.

About Elastic

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.