LPL Financial LLC Acquires 5,775 Shares of Elastic (NYSE:ESTC)

LPL Financial LLC increased its stake in shares of Elastic (NYSE:ESTC - Free Report) by 28.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,832 shares of the company's stock after purchasing an additional 5,775 shares during the quarter. LPL Financial LLC's holdings in Elastic were worth $2,559,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ESTC. Slow Capital Inc. acquired a new position in Elastic during the 4th quarter valued at about $5,039,000. Wealth Effects LLC boosted its stake in Elastic by 25.4% in the fourth quarter. Wealth Effects LLC now owns 28,800 shares of the company's stock valued at $2,854,000 after acquiring an additional 5,830 shares during the last quarter. Bangor Savings Bank acquired a new stake in Elastic during the 4th quarter worth $1,657,000. Smith Group Asset Management LLC bought a new stake in shares of Elastic during the 4th quarter valued at $3,408,000. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Elastic by 3,442.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 14,525 shares of the company's stock valued at $1,439,000 after purchasing an additional 14,115 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

Elastic Stock Down 1.7 %

ESTC stock traded down $1.32 during mid-day trading on Wednesday, reaching $78.63. The company had a trading volume of 1,717,184 shares, compared to its average volume of 1,363,431. The company has a market capitalization of $8.21 billion, a price-to-earnings ratio of 142.96 and a beta of 1.19. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. The stock has a 50 day simple moving average of $97.43 and a two-hundred day simple moving average of $96.47. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99.

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Elastic (NYSE:ESTC - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.48). The firm had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. As a group, equities analysts predict that Elastic will post -0.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on ESTC. Rosenblatt Securities reaffirmed a "buy" rating and set a $130.00 price objective on shares of Elastic in a research note on Tuesday, February 25th. Cantor Fitzgerald initiated coverage on Elastic in a research report on Friday, January 17th. They set a "neutral" rating and a $108.00 target price for the company. DA Davidson lowered their price target on Elastic from $115.00 to $75.00 and set a "neutral" rating for the company in a research note on Monday. Scotiabank reduced their price objective on shares of Elastic from $140.00 to $137.00 and set a "sector outperform" rating on the stock in a research note on Thursday, March 27th. Finally, Jefferies Financial Group lowered their target price on shares of Elastic from $125.00 to $110.00 and set a "buy" rating for the company 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Elastic presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.48.

Insider Buying and Selling

In other news, CEO Ashutosh Kulkarni sold 18,735 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $1,700,575.95. Following the transaction, the chief executive officer now owns 376,591 shares of the company's stock, valued at approximately $34,183,165.07. This represents a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Shay Banon sold 25,668 shares of the 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 in the company, valued at approximately $271,033,118.73. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 198,304 shares of company stock valued at $20,847,452. 15.90% of the stock is owned by insiders.

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.