Jackson Square Partners LLC Sells 60,078 Shares of Elastic (NYSE:ESTC)

Jackson Square Partners LLC reduced its stake in shares of Elastic (NYSE:ESTC - Free Report) by 23.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 197,258 shares of the company's stock after selling 60,078 shares during the period. Elastic accounts for 2.1% of Jackson Square Partners LLC's investment portfolio, making the stock its 25th biggest holding. Jackson Square Partners LLC owned 0.19% of Elastic worth $19,544,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. M&T Bank Corp grew its stake in Elastic by 3.1% in the third quarter. M&T Bank Corp now owns 4,652 shares of the company's stock valued at $357,000 after purchasing an additional 139 shares in the last quarter. Sigma Planning Corp raised its position in Elastic by 3.7% during the fourth quarter. Sigma Planning Corp now owns 3,929 shares of the company's stock valued at $389,000 after acquiring an additional 139 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Elastic by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,053 shares of the company's stock valued at $302,000 after acquiring an additional 151 shares during the last quarter. Smartleaf Asset Management LLC grew its position 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 in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Elastic by 0.7% during the 4th quarter. Van ECK Associates Corp now owns 32,954 shares of the company's stock worth $3,265,000 after purchasing an additional 220 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other Elastic news, CRO Mark Eugene Dodds sold 2,755 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.77, for a total value of $250,071.35. Following the completion of the transaction, the executive now directly owns 96,484 shares of the company's stock, valued at approximately $8,757,852.68. The trade was a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Shay Banon sold 25,668 shares of the stock in a transaction that occurred on Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the sale, the chief technology officer now directly owns 2,408,541 shares in the company, valued at $271,033,118.73. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 198,304 shares of company stock worth $20,847,452. Insiders own 15.90% of the company's stock.

Elastic Price Performance

Shares of Elastic stock traded down $4.99 during midday trading on Friday, hitting $90.07. 544,849 shares of the company were exchanged, compared to its average volume of 1,397,377. The firm has a 50 day simple moving average of $105.43 and a 200-day simple moving average of $95.83. 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 firm has a market cap of $9.40 billion, a P/E ratio of 163.76 and a beta of 1.20. Elastic has a 52 week low of $69.00 and a 52 week 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). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The firm had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. Research analysts forecast that Elastic will post -0.77 earnings per share for the current year.

Analysts Set New Price Targets

ESTC has been the subject of a number of recent research reports. Scotiabank decreased their price objective on shares of Elastic from $140.00 to $137.00 and set a "sector outperform" rating for the company in a report on Thursday. UBS Group increased their price objective on Elastic from $140.00 to $148.00 and gave the company a "buy" rating in a report on Friday, February 28th. Canaccord Genuity Group upped their target price on Elastic from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Rosenblatt Securities reiterated a "buy" rating and set a $130.00 price target on shares of Elastic in a report on Tuesday, February 25th. Finally, Wedbush cut shares of Elastic from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Seven investment 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $131.39.

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.