International Assets Investment Management LLC Buys New Shares in Elastic (NYSE:ESTC)

International Assets Investment Management LLC bought a new position in Elastic (NYSE:ESTC) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 22,765 shares of the company’s stock, valued at approximately $25,660,000.

A number of other institutional investors have also bought and sold shares of the business. Sylebra Capital LLC bought a new stake in shares of Elastic during the third quarter valued at approximately $318,822,000. Alkeon Capital Management LLC increased its holdings in Elastic by 82.1% in the 3rd quarter. Alkeon Capital Management LLC now owns 1,995,985 shares of the company’s stock valued at $162,154,000 after acquiring an additional 900,000 shares during the last quarter. FMR LLC lifted its stake in Elastic by 4.7% in the 3rd quarter. FMR LLC now owns 9,051,434 shares of the company’s stock worth $735,338,000 after purchasing an additional 409,717 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Elastic by 4.6% during the third quarter. Vanguard Group Inc. now owns 8,573,534 shares of the company’s stock valued at $696,514,000 after purchasing an additional 380,694 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Elastic by 5.5% in the third quarter. JPMorgan Chase & Co. now owns 2,969,585 shares of the company’s stock worth $241,249,000 after purchasing an additional 155,612 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Stock Down 0.4 %

Elastic stock opened at $105.66 on Friday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.80. The firm has a market cap of $10.65 billion, a P/E ratio of 229.70 and a beta of 0.92. The business has a fifty day moving average of $104.26 and a two-hundred day moving average of $103.45. Elastic has a twelve month low of $54.54 and a twelve month high of $136.06.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.01. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. The firm had revenue of $327.96 million during the quarter, compared to analysts’ expectations of $320.48 million. On average, analysts forecast that Elastic will post -1.13 earnings per share for the current fiscal year.

Insider Activity

In other Elastic news, Director Steven Schuurman sold 815,000 shares of Elastic stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total value of $79,495,100.00. Following the transaction, the director now directly owns 8,382,000 shares of the company’s stock, valued at $817,580,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Elastic news, Director Steven Schuurman sold 815,000 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total value of $79,495,100.00. Following the completion of the sale, the director now directly owns 8,382,000 shares in the company, valued at $817,580,280. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Shay Banon sold 100,000 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $101.73, for a total value of $10,173,000.00. Following the sale, the chief technology officer now owns 3,254,978 shares in the company, valued at approximately $331,128,911.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 962,440 shares of company stock worth $94,535,764. Corporate insiders own 18.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ESTC. Barclays dropped their price target on Elastic from $130.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, March 1st. Royal Bank of Canada boosted their price target on shares of Elastic from $134.00 to $147.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Rosenblatt Securities upped their target price on shares of Elastic from $105.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Oppenheimer upped their price objective on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Finally, TheStreet raised shares of Elastic from a “d+” rating to a “c-” rating in a research note on Wednesday, February 7th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.26.

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.