Vontobel Holding Ltd. Decreases Stock Position in Elastic (NYSE:ESTC)

Vontobel Holding Ltd. decreased its position in Elastic (NYSE:ESTC) by 18.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,035 shares of the company’s stock after selling 3,938 shares during the quarter. Vontobel Holding Ltd.’s holdings in Elastic were worth $1,920,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. FMR LLC grew its holdings in Elastic by 4.7% during the 3rd quarter. FMR LLC now owns 9,051,434 shares of the company’s stock valued at $735,338,000 after purchasing an additional 409,717 shares in the last quarter. Vanguard Group Inc. grew its stake 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 acquiring an additional 380,694 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Elastic by 2.8% during the fourth quarter. Baillie Gifford & Co. now owns 7,764,370 shares of the company’s stock worth $875,044,000 after acquiring an additional 211,896 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Elastic by 4.8% in the first quarter. BlackRock Inc. now owns 5,616,149 shares of the company’s stock worth $499,557,000 after acquiring an additional 259,742 shares in the last quarter. Finally, Sylebra Capital Ltd boosted its holdings in Elastic by 3.2% in the first quarter. Sylebra Capital Ltd now owns 4,712,076 shares of the company’s stock valued at $272,829,000 after purchasing an additional 146,397 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Stock Performance

Shares of ESTC opened at $96.18 on Friday. The firm has a fifty day moving average of $108.93 and a 200-day moving average of $101.75. The company has a market cap of $9.69 billion, a price-to-earnings ratio of 209.09 and a beta of 0.94. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.87 and a current ratio of 1.87. Elastic has a 1 year low of $54.06 and a 1 year high of $136.06.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, February 29th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.01. Elastic had a net margin of 4.63% and a negative return on equity of 23.94%. The firm had revenue of $327.96 million during the quarter, compared to analyst estimates of $320.48 million. As a group, equities analysts anticipate that Elastic will post -1.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. TheStreet raised Elastic from a “d+” rating to a “c-” rating in a research report on Wednesday, February 7th. Royal Bank of Canada upped their price target on shares of Elastic from $134.00 to $147.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Oppenheimer raised their price objective on shares of Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Stifel Nicolaus upped their target price on shares of Elastic from $99.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Citigroup reduced their price target on shares of Elastic from $165.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Elastic currently has an average rating of “Moderate Buy” and an average price target of $111.26.

Insider Buying and Selling

In other Elastic news, CEO Ashutosh Kulkarni sold 15,778 shares of Elastic stock in a transaction on Monday, March 11th. The stock was sold at an average price of $103.28, for a total transaction of $1,629,551.84. Following the sale, the chief executive officer now owns 364,235 shares of the company’s stock, valued at approximately $37,618,190.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Steven Schuurman sold 815,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 8,382,000 shares of the company’s stock, valued at approximately $817,580,280. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ashutosh Kulkarni sold 15,778 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $103.28, for a total transaction of $1,629,551.84. Following the transaction, the chief executive officer now owns 364,235 shares in the company, valued at approximately $37,618,190.80. The disclosure for this sale can be found here. Insiders sold 962,440 shares of company stock valued at $94,535,764 in the last three months. 18.10% of the stock is currently owned by corporate insiders.

Elastic 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.