Elastic (NYSE:ESTC) Shares Sold by River Global Investors LLP

River Global Investors LLP reduced its position in Elastic (NYSE:ESTC) by 41.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 11,658 shares of the company’s stock after selling 8,226 shares during the quarter. River Global Investors LLP’s holdings in Elastic were worth $1,155,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in shares of Elastic in the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. acquired a new stake in Elastic during the 4th quarter worth approximately $25,000. Venturi Wealth Management LLC boosted its position in Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after buying an additional 238 shares during the period. Smartleaf Asset Management LLC grew 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 acquiring an additional 158 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake 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 worth $53,000 after acquiring an additional 490 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Royal Bank of Canada lifted their target price on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Needham & Company LLC restated a “hold” rating on shares of Elastic in a research note on Friday, November 22nd. Bank of America boosted their price target on shares of Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Piper Sandler raised their price objective on shares of Elastic from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, UBS Group boosted their target price 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. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.52.

Insider Buying and Selling at Elastic

In other news, CTO Shay Banon sold 140,129 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total value of $14,948,961.72. Following the completion of the sale, the chief technology officer now owns 2,254,978 shares in the company, valued at approximately $240,561,053.04. This trade represents a 5.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ashutosh Kulkarni sold 7,017 shares of Elastic stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total transaction of $758,678.04. Following the completion of the sale, the chief executive officer now directly owns 395,326 shares in the company, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 172,814 shares of company stock worth $18,596,060. 15.90% of the stock is currently owned by insiders.

Elastic Stock Down 4.4 %

Shares of NYSE:ESTC opened at $94.94 on Friday. Elastic has a 1-year low of $69.00 and a 1-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 cap of $9.84 billion, a P/E ratio of 172.61 and a beta of 1.20. The firm has a fifty day moving average price of $106.32 and a 200 day moving average price of $95.56.

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 predict that Elastic will post -0.77 EPS for the current year.

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.