Elastic (NYSE:ESTC) Position Increased by Two Sigma Advisers LP

Two Sigma Advisers LP boosted its stake in shares of Elastic (NYSE:ESTC) by 985.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 346,400 shares of the company’s stock after purchasing an additional 314,500 shares during the quarter. Two Sigma Advisers LP owned approximately 0.33% of Elastic worth $34,321,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Sigma Planning Corp lifted its stake in Elastic by 3.7% in the fourth quarter. Sigma Planning Corp now owns 3,929 shares of the company’s stock valued at $389,000 after buying an additional 139 shares during the last quarter. CIBC Asset Management Inc lifted its position in Elastic by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,053 shares of the company’s stock valued at $302,000 after purchasing an additional 151 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after purchasing an additional 158 shares during the last quarter. Resolute Advisors LLC boosted its stake in Elastic by 7.1% during the 4th quarter. Resolute Advisors LLC now owns 3,255 shares of the company’s stock valued at $323,000 after purchasing an additional 217 shares during the period. Finally, Van ECK Associates Corp grew its position in Elastic by 0.7% in the 4th quarter. Van ECK Associates Corp now owns 32,954 shares of the company’s stock worth $3,265,000 after purchasing an additional 220 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ESTC shares. Jefferies Financial Group cut their price target on Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Morgan Stanley cut their target price on Elastic from $140.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Robert W. Baird boosted their price target on Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Truist Financial lowered their price target on Elastic from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, Rosenblatt Securities restated a “buy” rating and set a $130.00 price objective on shares of Elastic in a research note on Tuesday, February 25th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $126.87.

Elastic Stock Up 2.2%

ESTC stock opened at $94.30 on Wednesday. The firm has a market cap of $9.85 billion, a PE ratio of 171.45 and a beta of 1.20. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a 50 day simple moving average of $86.48 and a 200 day simple moving average of $97.42.

Elastic (NYSE:ESTC) last announced 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%. Equities research analysts forecast that Elastic will post -0.77 earnings per share for the current fiscal year.

Insider Transactions at Elastic

In related news, CRO Mark Eugene Dodds sold 2,755 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 value of $250,071.35. Following the completion of the transaction, the executive now owns 96,484 shares of the company’s stock, valued at approximately $8,757,852.68. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Shay Banon sold 25,668 shares of Elastic stock in a transaction that occurred on Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the transaction, the chief technology officer now owns 2,408,541 shares in the company, valued at approximately $271,033,118.73. The trade was a 1.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 198,304 shares of company stock valued at $20,847,452 over the last three months. Company insiders own 15.90% of the company’s stock.

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.