Elastic (NYSE:ESTC) Position Trimmed by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in Elastic (NYSE:ESTC - Free Report) by 30.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,637 shares of the company's stock after selling 4,662 shares during the quarter. Victory Capital Management Inc.'s holdings in Elastic were worth $1,054,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ESTC. Slow Capital Inc. purchased a new stake in shares of Elastic in the fourth quarter valued at approximately $5,039,000. Wealth Effects LLC grew its stake in shares of Elastic by 25.4% during the 4th quarter. Wealth Effects LLC now owns 28,800 shares of the company's stock worth $2,854,000 after purchasing an additional 5,830 shares during the period. Blueshift Asset Management LLC purchased a new position in shares of Elastic in the 3rd quarter valued at about $585,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Elastic by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company's stock valued at $41,901,000 after purchasing an additional 14,590 shares during the period. Finally, Bangor Savings Bank purchased a new stake in Elastic during the fourth quarter worth about $1,657,000. Institutional investors and hedge funds own 97.03% of the company's stock.

Elastic Stock Performance

Shares of Elastic stock traded up $4.50 during trading hours on Monday, reaching $101.71. The company's stock had a trading volume of 1,178,249 shares, compared to its average volume of 1,298,901. The stock has a market cap of $10.62 billion, a P/E ratio of 184.92 and a beta of 1.20. Elastic has a one year low of $69.00 and a one year high of $123.96. The company's 50 day simple moving average is $105.33 and its 200 day simple moving average is $95.38. 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 announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.48). The company 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, analysts expect that Elastic will post -0.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ashutosh Kulkarni sold 18,735 shares of Elastic stock in a transaction on 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 transaction, the chief executive officer now directly owns 376,591 shares in the company, valued at approximately $34,183,165.07. This trade represents a 4.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Shay Banon sold 25,668 shares of the company's stock in a transaction on 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 completion of the sale, the chief technology officer now owns 2,408,541 shares of the company's stock, valued at approximately $271,033,118.73. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 193,304 shares of company stock worth $20,334,252. Insiders own 15.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ESTC shares. Robert W. Baird upped their price target on Elastic from $135.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. Truist Financial raised their price target on Elastic from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. UBS Group boosted their price objective on shares of Elastic from $140.00 to $148.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Canaccord Genuity Group raised their target price on shares of Elastic from $130.00 to $135.00 and gave the company a "buy" rating in a report on Friday, February 28th. Finally, Wedbush downgraded shares of Elastic from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 18th. 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $131.52.

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.