Krane Funds Advisors LLC Acquires Shares of 4,542 Elastic (NYSE:ESTC)

Krane Funds Advisors LLC bought a new position in shares of Elastic (NYSE:ESTC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,542 shares of the company's stock, valued at approximately $450,000.

Several other hedge funds also recently made changes to their positions in ESTC. Vanguard Group Inc. boosted its stake in Elastic by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company's stock valued at $926,607,000 after buying an additional 168,483 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in Elastic by 15.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock worth $339,820,000 after buying an additional 462,974 shares during the period. Geode Capital Management LLC grew its position in shares of Elastic by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company's stock valued at $142,663,000 after buying an additional 45,076 shares during the last quarter. State Street Corp raised its position in shares of Elastic by 2.3% during the third 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 last quarter. Finally, Norges Bank acquired a new position in shares of Elastic in the fourth quarter worth approximately $102,485,000. 97.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on ESTC shares. Cantor Fitzgerald assumed coverage on shares of Elastic in a report on Friday, January 17th. They set a "neutral" rating and a $108.00 price target for the company. Scotiabank dropped their target price on shares of Elastic from $140.00 to $137.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 27th. Rosenblatt Securities reiterated a "buy" rating and set a $130.00 price target on shares of Elastic in a report on Tuesday, February 25th. 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 note on Monday, April 7th. Finally, Wells Fargo & Company raised their target price on Elastic from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $130.09.

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Elastic Stock Performance

NYSE ESTC traded up $0.92 on Friday, hitting $79.70. 1,261,740 shares of the stock traded hands, compared to its average volume of 1,360,332. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 144.90 and a beta of 1.19. The business's fifty day moving average is $98.83 and its two-hundred day moving average is $96.44. 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 has a 12 month low of $69.00 and a 12 month high of $123.96.

Elastic (NYSE:ESTC - Get Free Report) last posted 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). The business had revenue of $382.08 million during the quarter, compared to analysts' expectations of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. As a group, equities analysts anticipate that Elastic will post -0.77 EPS for the current fiscal year.

Insider Transactions at Elastic

In related news, CTO Shay Banon sold 2,683 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.78, for a total value of $243,562.74. Following the sale, the chief technology officer now owns 4,535,456 shares in the company, valued at approximately $411,728,695.68. This trade represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the company's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total value of $513,200.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 198,304 shares of company stock valued at $20,847,452 over the last three months. Company insiders own 15.90% of the company's stock.

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.