Occudo Quantitative Strategies LP Takes Position in Elastic (NYSE:ESTC)

Occudo Quantitative Strategies LP purchased a new stake in shares of Elastic (NYSE:ESTC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,031 shares of the company’s stock, valued at approximately $300,000.

Other institutional investors and hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in shares of Elastic during the fourth quarter valued at $25,000. Geneos Wealth Management Inc. purchased a new position in shares of Elastic during the fourth quarter valued at $25,000. Venturi Wealth Management LLC grew its holdings in shares of Elastic by 793.3% during the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after buying an additional 238 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after buying an additional 158 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of Elastic by 1,065.2% during the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock valued at $53,000 after buying an additional 490 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Insider Activity at Elastic

In related news, CTO Shay Banon sold 25,668 shares of the business’s stock in a transaction dated 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 directly owns 2,408,541 shares in the company, valued at $271,033,118.73. The trade was a 1.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ashutosh Kulkarni sold 18,735 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 $1,700,575.95. Following the transaction, the chief executive officer now owns 376,591 shares in the company, valued at $34,183,165.07. This represents a 4.74% 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 worth $20,847,452 over the last three months. Company insiders own 15.90% of the company’s stock.

Elastic Trading Up 0.1%

Elastic stock opened at $92.25 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The business’s 50-day simple moving average is $86.56 and its 200-day simple moving average is $97.13. The firm has a market capitalization of $9.63 billion, a PE ratio of 167.73 and a beta of 1.20. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96.

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 business 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%. Equities research analysts forecast that Elastic will post -0.77 earnings per share for the current year.

Wall Street Analyst Weigh In

ESTC has been the subject of a number of research reports. UBS Group lifted their price objective on Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Morgan Stanley reduced their price objective on Elastic from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company lifted their price objective on Elastic from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Rosenblatt Securities reissued a “buy” rating and set a $130.00 price objective on shares of Elastic in a research report on Tuesday, February 25th. Finally, Jefferies Financial Group reduced their price objective on Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research report 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. Based on data from MarketBeat.com, Elastic presently has an average rating of “Moderate Buy” and a consensus target price of $126.87.

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.