Vanguard Group Inc. Buys 168,483 Shares of Elastic (NYSE:ESTC)

Vanguard Group Inc. grew its stake in Elastic (NYSE:ESTC) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,352,108 shares of the company’s stock after acquiring an additional 168,483 shares during the period. Vanguard Group Inc. owned approximately 0.09% of Elastic worth $926,607,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FMR LLC grew its holdings in Elastic by 25.6% during the third quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after purchasing an additional 1,115,750 shares during the period. Atreides Management LP grew its holdings in shares of Elastic by 57.2% in the 3rd quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock valued at $129,555,000 after buying an additional 614,309 shares during the period. State Street Corp increased its position in shares of Elastic by 2.3% in the 3rd quarter. State Street Corp now owns 1,437,243 shares of the company’s stock valued at $110,323,000 after buying an additional 31,663 shares in the last quarter. Geode Capital Management LLC raised its stake in Elastic by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,394,336 shares of the company’s stock worth $107,058,000 after buying an additional 50,355 shares during the period. Finally, Amundi lifted its holdings in Elastic by 27.4% during the fourth quarter. Amundi now owns 832,470 shares of the company’s stock worth $81,615,000 after acquiring an additional 179,054 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ESTC. Truist Financial increased their price target on Elastic from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Canaccord Genuity Group increased their target price on Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Guggenheim lifted their price target on shares of Elastic from $130.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Piper Sandler upped their price target 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, Morgan Stanley raised their price objective on shares of Elastic from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Seven equities research 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. According to MarketBeat.com, Elastic presently has a consensus rating of “Moderate Buy” and an average target price of $131.39.

Elastic Stock Down 3.7 %

Elastic stock opened at $91.55 on Friday. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96. The firm has a market capitalization of $9.56 billion, a PE ratio of 166.46 and a beta of 1.20. The company’s 50-day moving average is $105.25 and its 200-day moving average is $95.97. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share 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 business had revenue of $382.08 million for the quarter, compared to analyst estimates of $368.85 million. Sell-side analysts anticipate that Elastic will post -0.77 earnings per share for the current year.

Insider Activity at Elastic

In other Elastic news, CTO Shay Banon sold 140,129 shares of the stock in a transaction dated 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 transaction, the chief technology officer now directly owns 2,254,978 shares of the company’s stock, valued at $240,561,053.04. This represents a 5.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Carolyn Herzog sold 3,334 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $90.78, for a total value of $302,660.52. Following the sale, the insider now owns 84,152 shares of the company’s stock, valued at approximately $7,639,318.56. This represents a 3.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 198,304 shares of company stock worth $20,847,452. Company insiders own 15.90% of the company’s stock.

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.