Graham Capital Management L.P. Buys 14,600 Shares of Elastic (NYSE:ESTC)

Graham Capital Management L.P. increased its holdings in Elastic (NYSE:ESTC) by 435.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,955 shares of the company’s stock after buying an additional 14,600 shares during the period. Graham Capital Management L.P.’s holdings in Elastic were worth $1,779,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ESTC. Barclays PLC boosted its holdings in Elastic by 56.2% in the 3rd quarter. Barclays PLC now owns 153,155 shares of the company’s stock worth $11,757,000 after buying an additional 55,084 shares during the period. FNY Investment Advisers LLC boosted its holdings in Elastic by 87.3% in the 4th quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock worth $74,000 after buying an additional 349 shares during the period. Oak Thistle LLC bought a new position in Elastic in the 4th quarter worth approximately $357,000. Nisa Investment Advisors LLC boosted its holdings in Elastic by 3,442.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 14,525 shares of the company’s stock worth $1,439,000 after buying an additional 14,115 shares during the period. Finally, SG Americas Securities LLC bought a new position in Elastic in the 4th quarter worth approximately $7,293,000. 97.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Elastic news, CRO Mark Eugene Dodds sold 2,755 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.77, for a total value of $250,071.35. Following the transaction, the executive now owns 96,484 shares in the company, valued at approximately $8,757,852.68. The trade was a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Shay Banon sold 25,668 shares of the business’s stock in a transaction dated Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the completion of the transaction, the chief technology officer now owns 2,408,541 shares in the company, valued at $271,033,118.73. The trade was a 1.05% decrease in their position. 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 in the last 90 days. 15.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ESTC has been the subject of several analyst reports. Morgan Stanley cut their price objective on shares of Elastic from $140.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Cantor Fitzgerald started coverage on shares of Elastic in a research note on Friday, January 17th. They issued a “neutral” rating and a $108.00 target price on the stock. Robert W. Baird increased their target price on shares of Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. 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. Finally, Jefferies Financial Group lowered their target price on shares of Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.48.

Elastic Price Performance

Shares of NYSE:ESTC opened at $85.55 on Monday. The stock has a market cap of $8.93 billion, a PE ratio of 155.55 and a beta of 1.20. The company’s fifty day moving average is $87.13 and its 200 day moving average is $96.93. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.

Elastic (NYSE:ESTC) last issued its 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 business had revenue of $382.08 million during the quarter, compared to analysts’ expectations of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. Research analysts anticipate that Elastic will post -0.77 earnings per share for the current year.

Elastic Company 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.