NewEdge Wealth LLC Takes Position in Elastic (NYSE:ESTC)

NewEdge Wealth LLC acquired a new stake in Elastic (NYSE:ESTC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,170 shares of the company’s stock, valued at approximately $245,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Elastic by 4.6% in the 3rd 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. International Assets Investment Management LLC acquired a new stake in Elastic in the 4th quarter valued at about $25,660,000. UBS Group AG lifted its stake in Elastic by 28.0% in the 3rd quarter. UBS Group AG now owns 56,805 shares of the company’s stock valued at $4,615,000 after purchasing an additional 12,430 shares during the last quarter. Northern Trust Corp lifted its stake in Elastic by 3.8% in the 3rd quarter. Northern Trust Corp now owns 372,712 shares of the company’s stock valued at $30,279,000 after purchasing an additional 13,587 shares during the last quarter. Finally, M&T Bank Corp acquired a new stake in Elastic in the 3rd quarter valued at about $230,000. Institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Oppenheimer raised their target price on shares of Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Rosenblatt Securities raised their target price on shares of Elastic from $105.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, March 1st. TheStreet upgraded shares of Elastic from a “d+” rating to a “c-” rating in a research note on Wednesday, February 7th. Citigroup cut their target price on shares of Elastic from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Finally, Royal Bank of Canada raised their price objective on shares of Elastic from $134.00 to $147.00 and gave the stock an “overweight” rating 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.26.

Insider Activity at Elastic

In related news, CEO Ashutosh Kulkarni sold 15,778 shares of Elastic stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $103.28, for a total value of $1,629,551.84. Following the transaction, the chief executive officer now directly owns 364,235 shares of the company’s stock, valued at $37,618,190.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Elastic news, Director Steven Schuurman sold 815,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the sale, the director now owns 8,382,000 shares of the company’s stock, valued at $817,580,280. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ashutosh Kulkarni sold 15,778 shares of the business’s 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 directly owns 364,235 shares in the company, valued at approximately $37,618,190.80. The disclosure for this sale can be found here. Insiders have sold 962,440 shares of company stock valued at $94,535,764 over the last three months. 18.10% of the stock is owned by insiders.

Elastic Stock Up 0.7 %

Shares of ESTC opened at $95.31 on Friday. Elastic has a 12 month low of $54.06 and a 12 month high of $136.06. The firm’s 50 day moving average is $109.61 and its 200-day moving average is $101.64. The stock has a market capitalization of $9.61 billion, a PE ratio of 207.20 and a beta of 0.94. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.80.

Elastic (NYSE:ESTC) last announced its quarterly earnings data 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. The business had revenue of $327.96 million for the quarter, compared to analysts’ expectations of $320.48 million. Elastic had a net margin of 4.63% and a negative return on equity of 23.94%. Equities research analysts forecast that Elastic will post -1.13 EPS for the current year.

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.