Vanguard Group Inc. Increases Holdings in Elastic (NYSE:ESTC)

Vanguard Group Inc. increased its stake in Elastic (NYSE:ESTC - Free Report) by 1.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,352,108 shares of the company's stock after buying an additional 168,483 shares during the quarter. Vanguard Group Inc. owned 9.02% of Elastic worth $926,607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ESTC. Geneos Wealth Management Inc. bought a new stake in shares of Elastic in the fourth quarter valued at $25,000. SBI Securities Co. Ltd. purchased a new stake in Elastic during the fourth quarter valued at about $25,000. Venturi Wealth Management LLC boosted its position in Elastic by 793.3% during the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock worth $27,000 after purchasing an additional 238 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock worth $28,000 after purchasing an additional 158 shares in the last quarter. Finally, Global Retirement Partners LLC raised its position 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 valued at $53,000 after purchasing an additional 490 shares during the period. 97.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ESTC. Wells Fargo & Company raised their price objective on shares of Elastic from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $130.00 price target on shares of Elastic in a report on Tuesday, February 25th. Piper Sandler boosted their price objective on Elastic from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. UBS Group increased their price objective on Elastic from $140.00 to $148.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Robert W. Baird lifted their target price on Elastic from $135.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, February 28th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $130.74.

Insiders Place Their Bets

In other news, CEO Ashutosh Kulkarni sold 18,735 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.77, for a total value of $1,700,575.95. Following the transaction, the chief executive officer now owns 376,591 shares in the company, valued at approximately $34,183,165.07. This trade represents a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 in the company, valued at approximately $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 198,304 shares of company stock valued at $20,847,452 over the last three months. Insiders own 15.90% of the company's stock.

Elastic Price Performance

NYSE:ESTC traded up $0.42 during mid-day trading on Wednesday, reaching $91.76. The stock had a trading volume of 395,731 shares, compared to its average volume of 1,323,051. The stock has a market capitalization of $9.58 billion, a P/E ratio of 166.45 and a beta of 1.20. The firm has a 50 day moving average price of $104.84 and a two-hundred day moving average price of $96.51. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. Elastic has a one year low of $69.00 and a one year high of $123.96.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share 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 business had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. As a group, analysts expect that Elastic will post -0.77 earnings per share for the current year.

Elastic 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.