Elastic (NYSE:ESTC) Shares Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd increased its holdings in shares of Elastic (NYSE:ESTC) by 12.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,932 shares of the company’s stock after purchasing an additional 985 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Elastic were worth $885,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic during the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. purchased a new position in shares of Elastic during the 4th quarter valued at approximately $25,000. Venturi Wealth Management LLC increased its stake in shares of Elastic by 793.3% in the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after buying an additional 238 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after acquiring an additional 158 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its stake in Elastic by 1,065.2% during the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock valued at $53,000 after acquiring an additional 490 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Stock Down 7.3 %

Elastic stock opened at $76.20 on Monday. The company’s 50-day moving average price is $103.65 and its two-hundred day moving average price is $96.68. The stock has a market cap of $7.96 billion, a price-to-earnings ratio of 138.55 and a beta of 1.19. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70.

Elastic (NYSE:ESTC) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. On average, analysts expect that Elastic will post -0.77 EPS for the current fiscal year.

Insider Activity at Elastic

In related news, CEO Ashutosh Kulkarni sold 18,735 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the completion of the sale, the chief executive officer now directly owns 376,591 shares in the company, valued at approximately $34,183,165.07. This trade represents a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Mark Eugene Dodds sold 2,755 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.77, for a total value of $250,071.35. Following the completion of the transaction, the executive now directly owns 96,484 shares in the company, valued at $8,757,852.68. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,304 shares of company stock valued at $20,847,452 over the last 90 days. 15.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ESTC has been the subject of several research analyst reports. Morgan Stanley boosted their target price on shares of Elastic from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Piper Sandler upped their price objective on Elastic from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 target price on shares of Elastic in a research report on Tuesday, February 25th. Jefferies Financial Group dropped their price target on Elastic from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Finally, Canaccord Genuity Group lifted their price objective on shares of Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.74.

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.