Elastic (NYSE:ESTC) Shares Sold by Xponance Inc.

Xponance Inc. lowered its holdings in Elastic (NYSE:ESTC) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,862 shares of the company’s stock after selling 254 shares during the period. Xponance Inc.’s holdings in Elastic were worth $1,224,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rakuten Securities Inc. bought a new stake in Elastic during the fourth quarter worth approximately $25,000. Covestor Ltd boosted its stake in shares of Elastic by 168.3% during the 3rd quarter. Covestor Ltd now owns 448 shares of the company’s stock worth $36,000 after acquiring an additional 281 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Elastic by 40.3% in the 4th quarter. Blue Trust Inc. now owns 1,449 shares of the company’s stock worth $163,000 after acquiring an additional 416 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Elastic by 6.6% during the third quarter. PNC Financial Services Group Inc. now owns 2,284 shares of the company’s stock worth $186,000 after purchasing an additional 142 shares during the period. Finally, Ardsley Advisory Partners LP purchased a new stake in shares of Elastic during the third quarter valued at $203,000. 97.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ESTC has been the topic of a number of analyst reports. Citigroup dropped their price target on Elastic from $165.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Truist Financial lifted their target price on shares of Elastic from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. TheStreet upgraded shares of Elastic from a “d+” rating to a “c-” rating in a research report on Wednesday, February 7th. The Goldman Sachs Group lifted their price objective on shares of Elastic from $93.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Finally, Royal Bank of Canada boosted their target price on shares of Elastic from $134.00 to $147.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $111.26.

Insider Transactions at Elastic

In related news, CTO Shay Banon sold 1,322 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $106.23, for a total value of $140,436.06. Following the transaction, the chief technology officer now directly owns 4,518,714 shares in the company, valued at approximately $480,022,988.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Elastic news, Director Steven Schuurman sold 815,000 shares of Elastic stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total value of $79,495,100.00. Following the transaction, 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 accessible through this link. Also, CTO Shay Banon sold 1,322 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $106.23, for a total value of $140,436.06. Following the completion of the sale, the chief technology officer now directly owns 4,518,714 shares of the company’s stock, valued at $480,022,988.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 962,440 shares of company stock worth $94,535,764. 18.10% of the stock is owned by insiders.

Elastic Trading Up 1.1 %

Elastic stock opened at $103.69 on Thursday. Elastic has a one year low of $54.06 and a one year high of $136.06. The company’s fifty day moving average price is $107.94 and its two-hundred day moving average price is $102.39. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.87 and a quick ratio of 1.87. The company has a market capitalization of $10.45 billion, a price-to-earnings ratio of 225.41 and a beta of 0.94.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.01. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. The business had revenue of $327.96 million for the quarter, compared to analyst estimates of $320.48 million. On average, analysts forecast that Elastic will post -1.13 earnings per share for the current fiscal year.

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.