Nicholas Company Inc. Acquires 8,578 Shares of Elastic (NYSE:ESTC)

Nicholas Company Inc. increased its position in Elastic (NYSE:ESTC - Free Report) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 227,624 shares of the company's stock after buying an additional 8,578 shares during the quarter. Nicholas Company Inc. owned 0.22% of Elastic worth $22,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Elastic by 25.6% during the third quarter. FMR LLC now owns 5,475,297 shares of the company's stock valued at $420,284,000 after acquiring an additional 1,115,750 shares during the last quarter. Atreides Management LP raised its position in Elastic by 57.2% during the 3rd quarter. Atreides Management LP now owns 1,687,791 shares of the company's stock worth $129,555,000 after purchasing an additional 614,309 shares during the last quarter. JAT Capital Mgmt LP lifted its holdings in Elastic by 601.4% during the 3rd quarter. JAT Capital Mgmt LP now owns 465,549 shares of the company's stock worth $35,736,000 after buying an additional 399,175 shares during the period. Thematics Asset Management increased its stake in shares of Elastic by 463.3% in the third quarter. Thematics Asset Management now owns 444,012 shares of the company's stock valued at $34,082,000 after buying an additional 365,192 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Elastic by 256.3% in the third quarter. Franklin Resources Inc. now owns 341,524 shares of the company's stock worth $28,387,000 after acquiring an additional 245,680 shares during the period. Institutional investors own 97.03% of the company's stock.

Remove Ads

Elastic Stock Down 0.6 %

ESTC traded down $0.54 during mid-day trading on Thursday, reaching $94.78. 697,392 shares of the stock were exchanged, compared to its average volume of 1,300,194. Elastic has a 1 year low of $69.00 and a 1 year high of $123.96. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The stock has a market capitalization of $9.90 billion, a PE ratio of 172.32 and a beta of 1.20. The company has a 50 day moving average price of $105.40 and a two-hundred day moving average price of $94.93.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings data 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 negative return on equity of 13.20% and a net margin of 4.39%. As a group, research analysts anticipate that Elastic will post -0.77 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. DA Davidson increased their target price on shares of Elastic from $75.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Royal Bank of Canada boosted their target price on shares of Elastic from $110.00 to $130.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. Jefferies Financial Group lifted their price objective on Elastic from $110.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, November 22nd. The Goldman Sachs Group upped their target price on Elastic from $99.00 to $113.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Finally, Guggenheim boosted their price target on Elastic from $130.00 to $136.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $131.52.

Insider Activity at Elastic

In related news, CTO Shay Banon sold 2,683 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $90.78, for a total value of $243,562.74. Following the transaction, the chief technology officer now owns 4,535,456 shares in the company, valued at approximately $411,728,695.68. This represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the firm's stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 376,591 shares of the company's stock, valued at $34,183,165.07. This represents a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 193,304 shares of company stock valued at $20,334,252. 15.90% of the stock is owned by insiders.

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.