Magnetar Financial LLC Invests $801,000 in Elastic (NYSE:ESTC)

Magnetar Financial LLC acquired a new stake in Elastic (NYSE:ESTC - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 8,089 shares of the company's stock, valued at approximately $801,000.

Several other institutional investors have also added to or reduced their stakes in ESTC. Geneos Wealth Management Inc. purchased a new position in shares of Elastic in the fourth quarter worth $25,000. SBI Securities Co. Ltd. bought a new stake in Elastic in the 4th quarter worth about $25,000. Venturi Wealth Management LLC lifted its stake in Elastic by 793.3% during the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock valued at $27,000 after acquiring an additional 238 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Elastic by 126.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock valued at $28,000 after acquiring an additional 158 shares during the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of Elastic by 1,065.2% in the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock worth $53,000 after acquiring an additional 490 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Elastic news, CEO Ashutosh Kulkarni sold 18,735 shares of the stock in a transaction on 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 owns 376,591 shares in the company, valued at $34,183,165.07. This trade 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 is available through this link. Also, CTO Shay Banon sold 140,129 shares of Elastic stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the completion of the transaction, the chief technology officer now directly owns 2,254,978 shares of the company's stock, valued at $240,561,053.04. The trade was a 5.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 193,304 shares of company stock worth $20,334,252 over the last 90 days. Corporate insiders own 15.90% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. UBS Group increased their price objective on shares of Elastic from $140.00 to $148.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Truist Financial raised their price target on Elastic from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Cantor Fitzgerald began coverage on Elastic in a research report on Friday, January 17th. They set a "neutral" rating and a $108.00 price objective for the company. Scotiabank reissued an "outperform" rating on shares of Elastic in a research report on Friday, February 28th. Finally, Morgan Stanley upped their price target on shares of Elastic from $130.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. 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. According to data from MarketBeat, Elastic has a consensus rating of "Moderate Buy" and an average price target of $131.52.

Elastic Price Performance

Shares of NYSE:ESTC traded down $3.08 during trading on Wednesday, hitting $99.34. 696,394 shares of the company's stock were exchanged, compared to its average volume of 1,296,071. The business's 50-day simple moving average is $105.53 and its 200 day simple moving average is $95.81. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96. The company has a market cap of $10.37 billion, a price-to-earnings ratio of 180.62 and a beta of 1.20.

Elastic (NYSE:ESTC - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.48). The company had revenue of $382.08 million for 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 EPS for the current year.

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.