Sciencast Management LP Invests $444,000 in Elastic (NYSE:ESTC)

Sciencast Management LP acquired a new position in shares of Elastic (NYSE:ESTC) in the 4th quarter, HoldingsChannel reports. The fund acquired 4,479 shares of the company’s stock, valued at approximately $444,000.

Other large investors also recently modified their holdings of the company. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic during the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Elastic during the 4th quarter worth approximately $25,000. Venturi Wealth Management LLC grew its position in shares of Elastic by 793.3% during the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after buying an additional 238 shares during the period. Smartleaf Asset Management LLC grew its position in Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after purchasing an additional 158 shares during the period. Finally, Global Retirement Partners LLC grew its position in Elastic by 1,065.2% in the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock valued at $53,000 after purchasing an additional 490 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insider Activity at Elastic

In other Elastic news, CTO Shay Banon sold 2,683 shares of Elastic stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.78, for a total transaction of $243,562.74. Following the completion of the transaction, the chief technology officer now owns 4,535,456 shares of the company’s stock, valued at $411,728,695.68. The trade was a 0.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ashutosh Kulkarni sold 18,735 shares of Elastic stock in a transaction dated Monday, March 10th. The shares were 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. In the last three months, insiders have sold 193,304 shares of company stock worth $20,334,252. Company insiders own 15.90% of the company’s stock.

Elastic Trading Up 2.3 %

Shares of Elastic stock opened at $96.96 on Friday. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96. The stock’s 50-day simple moving average is $105.33 and its 200 day simple moving average is $95.22. The stock has a market capitalization of $10.12 billion, a P/E ratio of 176.29 and a beta of 1.20. 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 (NYSE:ESTC) last announced its quarterly earnings data 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 net margin of 4.39% and a negative return on equity of 13.20%. The firm had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. As a group, research analysts anticipate that Elastic will post -0.77 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ESTC shares. Robert W. Baird lifted their price target on shares of Elastic from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Citigroup lifted their price target on shares of Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Morgan Stanley lifted their price target on shares of Elastic from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Wedbush downgraded shares of Elastic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Cantor Fitzgerald started coverage on Elastic in a research note on Friday, January 17th. They set a “neutral” rating and a $108.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $131.52.

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.