Thematics Asset Management Sells 43,000 Shares of Elastic (NYSE:ESTC)

Thematics Asset Management cut its holdings in shares of Elastic (NYSE:ESTC - Free Report) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 401,012 shares of the company's stock after selling 43,000 shares during the period. Elastic accounts for 1.7% of Thematics Asset Management's portfolio, making the stock its 10th biggest position. Thematics Asset Management owned approximately 0.39% of Elastic worth $39,732,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Elastic by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company's stock valued at $926,607,000 after acquiring an additional 168,483 shares during the period. Pictet Asset Management Holding SA lifted its holdings in shares of Elastic by 15.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock valued at $339,820,000 after purchasing an additional 462,974 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Elastic by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company's stock worth $142,663,000 after purchasing an additional 45,076 shares in the last quarter. Norges Bank purchased a new stake in shares of Elastic in the 4th quarter worth approximately $102,485,000. Finally, Federated Hermes Inc. increased its position in Elastic by 15.4% during the 4th quarter. Federated Hermes Inc. now owns 884,400 shares of the company's stock valued at $87,626,000 after buying an additional 118,294 shares in the last quarter. Institutional investors own 97.03% of the company's stock.

Insider Activity

In other news, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total transaction of $513,200.00. Following the transaction, the chief executive officer now owns 371,591 shares of the company's stock, valued at approximately $38,140,100.24. This represents a 1.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Shay Banon sold 25,668 shares of Elastic stock in a transaction that occurred on Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the transaction, the chief technology officer now directly owns 2,408,541 shares in the company, valued at approximately $271,033,118.73. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,304 shares of company stock valued at $20,847,452. 15.90% of the stock is currently owned by insiders.

Elastic Price Performance

Shares of NYSE ESTC traded up $1.10 during midday trading on Wednesday, reaching $77.49. 2,693,159 shares of the stock traded hands, compared to its average volume of 1,375,985. The company's 50 day moving average is $92.83 and its 200 day moving average is $96.36. Elastic has a one year low of $69.00 and a one year high of $123.96. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The stock has a market capitalization of $8.09 billion, a PE ratio of 140.89 and a beta of 1.19.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. On average, equities research analysts anticipate that Elastic will post -0.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ESTC shares. Morgan Stanley cut their target price on Elastic from $140.00 to $120.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company upped their target price on shares of Elastic from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Jefferies Financial Group reduced their price target on shares of Elastic from $125.00 to $110.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Cantor Fitzgerald began coverage on Elastic in a research note on Friday, January 17th. They set a "neutral" rating and a $108.00 target price on the stock. Finally, Scotiabank dropped their price objective on Elastic from $140.00 to $137.00 and set a "sector outperform" rating on the stock in a research report on Thursday, March 27th. Seven equities research 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. According to data from MarketBeat.com, Elastic presently has an average rating of "Moderate Buy" and an average price target of $127.48.

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.