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

Stevens Capital Management LP purchased a new stake in shares of Elastic (NYSE:ESTC) in the fourth quarter, Holdings Channel reports. The firm purchased 2,463 shares of the company’s stock, valued at approximately $244,000.

Several other institutional investors have also recently bought and sold shares of the business. M&T Bank Corp increased its position in shares of Elastic by 3.1% during the third quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock worth $357,000 after acquiring an additional 139 shares in the last quarter. Sigma Planning Corp increased its holdings in Elastic by 3.7% during the 4th quarter. Sigma Planning Corp now owns 3,929 shares of the company’s stock worth $389,000 after purchasing an additional 139 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Elastic by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,053 shares of the company’s stock worth $302,000 after purchasing an additional 151 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after purchasing an additional 158 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Elastic by 0.7% during the fourth quarter. Van ECK Associates Corp now owns 32,954 shares of the company’s stock valued at $3,265,000 after buying an additional 220 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insiders Place Their Bets

In other Elastic news, CTO Shay Banon sold 2,683 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.78, for a total value of $243,562.74. Following the sale, the chief technology officer now owns 4,535,456 shares of the company’s stock, valued at $411,728,695.68. This trade represents a 0.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was 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 directly owns 376,591 shares of the company’s stock, valued at $34,183,165.07. The trade was a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 193,304 shares of company stock worth $20,334,252 in the last three months. 15.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald started coverage on shares of Elastic in a report on Friday, January 17th. They set a “neutral” rating and a $108.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 target price on shares of Elastic in a report on Tuesday, February 25th. Barclays boosted their price target on shares of Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Citigroup increased their price objective on shares of Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Piper Sandler lifted their target price on shares of Elastic from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Seven investment 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.52.

Elastic Price Performance

Shares of NYSE ESTC opened at $101.71 on Tuesday. 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 fifty-two week low of $69.00 and a fifty-two week high of $123.96. The stock has a market cap of $10.62 billion, a PE ratio of 184.92 and a beta of 1.20. The stock has a fifty day moving average of $105.44 and a 200-day moving average of $95.58.

Elastic (NYSE:ESTC) last posted its earnings results 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 net margin of 4.39% and a negative return on equity of 13.20%. The company had revenue of $382.08 million for the quarter, compared to analysts’ expectations of $368.85 million. Equities research analysts anticipate that Elastic will post -0.77 earnings per share for the current year.

About Elastic

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.