American Century Companies Inc. Acquires 313,207 Shares of Elastic (NYSE:ESTC)

American Century Companies Inc. lifted its holdings in Elastic (NYSE:ESTC) by 592.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 366,103 shares of the company’s stock after acquiring an additional 313,207 shares during the quarter. American Century Companies Inc. owned 0.35% of Elastic worth $36,274,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Slow Capital Inc. bought a new stake in Elastic in the fourth quarter worth $5,039,000. Wealth Effects LLC increased its holdings in shares of Elastic by 25.4% in the fourth quarter. Wealth Effects LLC now owns 28,800 shares of the company’s stock worth $2,854,000 after buying an additional 5,830 shares during the period. Blueshift Asset Management LLC bought a new stake in shares of Elastic in the 3rd quarter valued at about $585,000. Charles Schwab Investment Management Inc. boosted its holdings in Elastic by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock valued at $41,901,000 after acquiring an additional 14,590 shares during the period. Finally, Bangor Savings Bank bought a new position in Elastic during the 4th quarter worth approximately $1,657,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Trading Down 4.4 %

NYSE:ESTC opened at $94.96 on Friday. The firm has a market capitalization of $9.91 billion, a P/E ratio of 172.65 and a beta of 1.20. 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 has a one year low of $69.00 and a one year high of $123.96. The company’s 50-day simple moving average is $105.43 and its 200 day simple moving average is $95.83.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). The company had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. As a group, analysts forecast that Elastic will post -0.77 EPS for the current fiscal year.

Insider Transactions at Elastic

In other news, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total transaction of $513,200.00. Following the sale, the chief executive officer now owns 371,591 shares in the company, valued at $38,140,100.24. This represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Shay Banon sold 2,683 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 transaction of $243,562.74. Following the completion of the transaction, the chief technology officer now owns 4,535,456 shares of the company’s stock, valued at approximately $411,728,695.68. The trade was a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,304 shares of company stock valued at $20,847,452. Insiders own 15.90% of the company’s stock.

Analyst Ratings Changes

ESTC has been the subject of several recent research reports. Canaccord Genuity Group boosted their price objective on Elastic from $130.00 to $135.00 and gave the company a “buy” 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. UBS Group raised their price target on shares of Elastic from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Piper Sandler upped their price objective on shares of Elastic from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Finally, Cantor Fitzgerald started coverage on Elastic in a research note on Friday, January 17th. They issued a “neutral” rating and a $108.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.39.

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.