Jackson Square Partners LLC Sells 60,078 Shares of Elastic (NYSE:ESTC)

Jackson Square Partners LLC decreased its holdings in shares of Elastic (NYSE:ESTC) by 23.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 197,258 shares of the company’s stock after selling 60,078 shares during the quarter. Elastic accounts for about 2.1% of Jackson Square Partners LLC’s investment portfolio, making the stock its 25th biggest position. Jackson Square Partners LLC’s holdings in Elastic were worth $19,544,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Geneos Wealth Management Inc. purchased a new position in shares of Elastic during the fourth quarter valued at $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Elastic during the fourth quarter worth $25,000. Venturi Wealth Management LLC increased its position in Elastic by 793.3% during 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 in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after acquiring an additional 158 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings 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 buying an additional 490 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

Insider Activity at Elastic

In other Elastic news, CTO Shay Banon sold 25,668 shares of the firm’s stock in a transaction on Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the completion of the transaction, the chief technology officer now directly owns 2,408,541 shares of the company’s stock, valued at $271,033,118.73. This trade represents a 1.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Mark Eugene Dodds sold 2,755 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $250,071.35. Following the transaction, 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. In the last ninety days, insiders have sold 193,304 shares of company stock worth $20,334,252. 15.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ESTC shares. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price target on shares of Elastic in a report on Tuesday, February 25th. Piper Sandler increased their price target on Elastic from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Robert W. Baird upped their target price on Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Guggenheim lifted their target price on shares of Elastic from $130.00 to $136.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, UBS Group raised their price target on shares of Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $131.52.

Elastic Stock Up 4.6 %

Elastic stock 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. The firm has a market capitalization of $10.62 billion, a price-to-earnings ratio of 184.92 and a beta of 1.20. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96. The stock’s fifty day moving average is $105.44 and its two-hundred day moving average is $95.58.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The firm had revenue of $382.08 million for the quarter, compared to analyst estimates of $368.85 million. Analysts predict that Elastic will post -0.77 EPS for the current fiscal 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.