Elastic (NYSE:ESTC) Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its position in shares of Elastic (NYSE:ESTC) by 5,972.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 744,358 shares of the company’s stock after buying an additional 732,100 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Elastic were worth $73,751,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pamplona Capital Management LLC purchased a new position in Elastic during the 4th quarter valued at about $20,866,000. Pictet Asset Management Holding SA lifted its position 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 worth $339,820,000 after purchasing an additional 462,974 shares in the last quarter. Norges Bank purchased a new position in shares of Elastic in the fourth quarter valued at approximately $102,485,000. WINTON GROUP Ltd acquired a new position in shares of Elastic in the fourth quarter valued at approximately $1,642,000. Finally, Artisan Partners Limited Partnership increased its stake in Elastic by 4.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 485,436 shares of the company’s stock worth $48,097,000 after buying an additional 21,160 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. UBS Group boosted their price target on shares of Elastic from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Piper Sandler boosted their target price on Elastic from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Canaccord Genuity Group increased their price target on Elastic from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Truist Financial cut their target price on shares of Elastic from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Cantor Fitzgerald initiated coverage on shares of Elastic in a report on Friday, January 17th. They issued a “neutral” rating and a $108.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $130.74.

Insider Transactions at Elastic

In other news, CTO Shay Banon sold 25,668 shares of the stock in a transaction dated 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 transaction, the chief technology officer now owns 2,408,541 shares in the company, valued at $271,033,118.73. This trade represents a 1.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Mark Eugene Dodds sold 2,755 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.77, for a total transaction of $250,071.35. Following the completion of the sale, the executive now owns 96,484 shares of the company’s stock, valued at $8,757,852.68. This trade represents 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 worth $20,847,452 over the last ninety days. 15.90% of the stock is currently owned by company insiders.

Elastic Stock Down 2.8 %

ESTC stock opened at $89.12 on Tuesday. Elastic has a 12 month low of $69.00 and a 12 month 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 company has a market cap of $9.31 billion, a price-to-earnings ratio of 162.04 and a beta of 1.20. The company has a fifty day moving average price of $105.03 and a 200 day moving average price of $96.39.

Elastic (NYSE:ESTC) last announced its 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 business 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%. Sell-side 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.