Elastic (NYSE:ESTC) Shares Acquired by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG increased its position in shares of Elastic (NYSE:ESTC) by 19.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 127,874 shares of the company’s stock after purchasing an additional 20,973 shares during the quarter. J. Safra Sarasin Holding AG owned 0.12% of Elastic worth $12,670,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Stifel Financial Corp lifted its stake in Elastic by 14.4% during the 4th quarter. Stifel Financial Corp now owns 22,384 shares of the company’s stock valued at $2,218,000 after acquiring an additional 2,820 shares during the period. MetLife Investment Management LLC lifted its position in Elastic by 4.6% during the fourth quarter. MetLife Investment Management LLC now owns 5,365 shares of the company’s stock valued at $532,000 after purchasing an additional 237 shares during the period. Ostrum Asset Management boosted its holdings in Elastic by 26.4% in the fourth quarter. Ostrum Asset Management now owns 1,538 shares of the company’s stock valued at $152,000 after purchasing an additional 321 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Elastic by 5.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 383,612 shares of the company’s stock valued at $38,014,000 after purchasing an additional 20,892 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Elastic by 369.2% during the 4th quarter. Canada Pension Plan Investment Board now owns 12,200 shares of the company’s stock worth $1,209,000 after purchasing an additional 9,600 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on ESTC shares. Truist Financial lowered their target price on Elastic from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Rosenblatt Securities restated a “buy” rating and issued a $130.00 price objective on shares of Elastic in a research report on Tuesday, February 25th. Piper Sandler boosted their target price 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. Robert W. Baird increased their price target on shares of Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Finally, Wells Fargo & Company increased their target price on shares of Elastic from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Seven investment 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 company’s stock. According to MarketBeat, Elastic has a consensus rating of “Moderate Buy” and a consensus target price of $127.48.

Insider Buying and Selling at Elastic

In related news, insider Carolyn Herzog sold 3,334 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.78, for a total value of $302,660.52. Following the completion of the sale, the insider now owns 84,152 shares in the company, valued at $7,639,318.56. This represents a 3.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Shay Banon sold 140,129 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the transaction, the chief technology officer now directly owns 2,254,978 shares in the company, valued at $240,561,053.04. The trade was a 5.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 198,304 shares of company stock worth $20,847,452 over the last ninety days. Corporate insiders own 15.90% of the company’s stock.

Elastic Price Performance

Elastic stock opened at $77.79 on Monday. The company has a market capitalization of $8.12 billion, a price-to-earnings ratio of 141.44 and a beta of 1.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. Elastic has a 1 year low of $69.00 and a 1 year high of $123.96. The company’s 50 day simple moving average is $95.22 and its 200-day simple moving average is $96.65.

Elastic (NYSE:ESTC) last posted its quarterly earnings data 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 company had revenue of $382.08 million for the quarter, compared to analysts’ expectations of $368.85 million. As a group, equities research analysts expect that Elastic will post -0.77 earnings per share 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.