2,463 Shares in Elastic (NYSE:ESTC) Bought by Stevens Capital Management LP

Stevens Capital Management LP bought a new stake in Elastic (NYSE:ESTC - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 2,463 shares of the company's stock, valued at approximately $244,000.

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

Elastic Stock Performance

Elastic stock traded down $3.51 during mid-day trading on Friday, reaching $91.55. 1,068,902 shares of the company were exchanged, compared to its average volume of 1,321,540. The firm's 50-day simple moving average is $105.25 and its two-hundred day simple moving average is $95.97. Elastic has a twelve month low of $69.00 and a twelve month high of $123.96. The firm has a market cap of $9.56 billion, a PE ratio of 166.46 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99.

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Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly 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 company had revenue of $382.08 million for the quarter, compared to analyst estimates of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. Equities analysts predict that Elastic will post -0.77 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Shay Banon sold 25,668 shares of Elastic 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 sale, the chief technology officer now directly owns 2,408,541 shares in the company, valued at $271,033,118.73. The trade was a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Mark Eugene Dodds sold 2,755 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $250,071.35. Following the completion of the transaction, the executive now owns 96,484 shares of the company's stock, valued at $8,757,852.68. The trade was a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 198,304 shares of company stock valued at $20,847,452 over the last quarter. Corporate insiders own 15.90% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ESTC. Wedbush downgraded shares of Elastic from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Guggenheim boosted their target price on shares of Elastic from $130.00 to $136.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Rosenblatt Securities reissued a "buy" rating and issued a $130.00 target price on shares of Elastic in a report on Tuesday, February 25th. Piper Sandler lifted their price target on Elastic from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Finally, Canaccord Genuity Group increased their price objective on Elastic from $130.00 to $135.00 and gave the company a "buy" rating in a report on Friday, February 28th. 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $131.39.

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.