Picton Mahoney Asset Management Invests $4.80 Million in Elastic (NYSE:ESTC)

Picton Mahoney Asset Management acquired a new position in Elastic (NYSE:ESTC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 48,500 shares of the company's stock, valued at approximately $4,804,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC raised its stake in shares of Elastic by 25.6% in the third quarter. FMR LLC now owns 5,475,297 shares of the company's stock valued at $420,284,000 after buying an additional 1,115,750 shares during the period. Atreides Management LP raised its stake in shares of Elastic by 57.2% in the third quarter. Atreides Management LP now owns 1,687,791 shares of the company's stock valued at $129,555,000 after buying an additional 614,309 shares during the period. JAT Capital Mgmt LP raised its stake in shares of Elastic by 601.4% in the third quarter. JAT Capital Mgmt LP now owns 465,549 shares of the company's stock valued at $35,736,000 after buying an additional 399,175 shares during the period. Thematics Asset Management raised 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. raised 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 valued at $28,387,000 after buying an additional 245,680 shares during the period. Hedge funds and other institutional investors own 97.03% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wedbush lowered Elastic from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Robert W. Baird boosted their target price on Elastic from $135.00 to $140.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. Truist Financial boosted their price objective on Elastic from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. DA Davidson boosted their price objective on Elastic from $75.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. Finally, Guggenheim boosted their price objective 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 given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $131.52.

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Elastic Price Performance

Shares of ESTC traded down $0.54 during midday trading on Thursday, reaching $94.78. The stock had a trading volume of 697,390 shares, compared to its average volume of 1,300,194. The company's 50-day moving average is $105.40 and its 200 day moving average is $94.93. Elastic has a 12-month low of $69.00 and a 12-month high of $123.96. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 172.32 and a beta of 1.20.

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

Insider Activity at Elastic

In related news, CEO Ashutosh Kulkarni sold 18,735 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the completion of the sale, the chief executive officer now directly owns 376,591 shares in the company, valued at $34,183,165.07. This represents a 4.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Shay Banon sold 25,668 shares of the stock in a transaction dated Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total value of $2,888,420.04. Following the sale, the chief technology officer now owns 2,408,541 shares of the company's stock, valued at $271,033,118.73. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 193,304 shares of company stock worth $20,334,252 in the last ninety days. 15.90% of the stock is owned by company 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.