OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires New Holdings in Elastic (NYSE:ESTC)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Elastic (NYSE:ESTC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,000 shares of the company’s stock, valued at approximately $495,000.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC increased its position in shares of Elastic by 56.2% in the 3rd quarter. Barclays PLC now owns 153,155 shares of the company’s stock valued at $11,757,000 after buying an additional 55,084 shares in the last quarter. FNY Investment Advisers LLC grew its stake in Elastic by 87.3% in the fourth quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock valued at $74,000 after acquiring an additional 349 shares during the period. Oak Thistle LLC acquired a new position in Elastic in the fourth quarter valued at about $357,000. Nisa Investment Advisors LLC increased its holdings in shares of Elastic by 3,442.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 14,525 shares of the company’s stock worth $1,439,000 after acquiring an additional 14,115 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Elastic during the fourth quarter worth about $7,293,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Price Performance

NYSE:ESTC opened at $93.56 on Wednesday. Elastic has a 12-month low of $69.00 and a 12-month high of $123.96. The firm has a market capitalization of $9.77 billion, a price-to-earnings ratio of 170.11 and a beta of 1.20. The stock’s 50 day moving average price is $86.67 and its two-hundred day moving average price is $96.99. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.

Elastic (NYSE:ESTC) last posted its 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. On average, analysts anticipate that Elastic will post -0.77 earnings per share for the current year.

Insider Activity at Elastic

In related news, CTO Shay Banon sold 25,668 shares of the business’s stock in a transaction on Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total value of $2,888,420.04. Following the completion of the sale, the chief technology officer now directly owns 2,408,541 shares in the company, valued at $271,033,118.73. The trade was a 1.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total value of $513,200.00. Following the completion of the transaction, the chief executive officer now directly owns 371,591 shares in the company, valued at approximately $38,140,100.24. This represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 198,304 shares of company stock worth $20,847,452. Insiders own 15.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ESTC shares. Piper Sandler boosted their price objective on Elastic from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Guggenheim upped their price target on shares of Elastic from $130.00 to $136.00 and gave the company a “buy” rating in a report on Friday, February 28th. Wells Fargo & Company increased their price objective on shares of Elastic from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Robert W. Baird boosted their price objective 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. Finally, Scotiabank reduced their target price on shares of Elastic from $140.00 to $137.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 27th. Seven 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $127.48.

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.