Sciencast Management LP Acquires Shares of 4,479 Elastic (NYSE:ESTC)

Sciencast Management LP acquired a new stake in Elastic (NYSE:ESTC) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 4,479 shares of the company’s stock, valued at approximately $444,000.

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

Elastic Stock Up 2.3 %

Shares of NYSE ESTC opened at $96.96 on Friday. The company has a 50 day simple moving average of $105.33 and a 200 day simple moving average of $95.22. The firm has a market cap of $10.12 billion, a PE ratio of 176.29 and a beta of 1.20. Elastic has a 1 year low of $69.00 and a 1 year 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.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share (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 net margin of 4.39% and a negative return on equity of 13.20%. On average, research analysts forecast that Elastic will post -0.77 EPS for the current year.

Insider Activity at Elastic

In other Elastic 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 transaction, the chief executive officer now owns 376,591 shares in the company, valued at approximately $34,183,165.07. This trade represents a 4.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Mark Eugene Dodds sold 2,755 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $250,071.35. Following the transaction, the executive now owns 96,484 shares of the company’s stock, valued at approximately $8,757,852.68. The trade was a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 193,304 shares of company stock worth $20,334,252 in the last quarter. 15.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ESTC shares. Citigroup upped their price target on shares of Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Morgan Stanley upped their price target on shares of Elastic from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Canaccord Genuity Group upped their price target on shares of Elastic from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 28th. UBS Group upped their price target on shares of Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Scotiabank restated an “outperform” rating on shares of Elastic in a research note on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.52.

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.