Jackson Square Partners LLC Has $19.54 Million Stock Position in Elastic (NYSE:ESTC)

Jackson Square Partners LLC lessened its holdings in shares of Elastic (NYSE:ESTC) by 23.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 197,258 shares of the company’s stock after selling 60,078 shares during the quarter. Elastic makes up approximately 2.1% of Jackson Square Partners LLC’s investment portfolio, making the stock its 25th largest position. Jackson Square Partners LLC owned approximately 0.19% of Elastic worth $19,544,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. SBI Securities Co. Ltd. bought a new stake in Elastic in the 4th quarter valued at $25,000. Geneos Wealth Management Inc. acquired a new stake in Elastic in the fourth quarter valued at about $25,000. Venturi Wealth Management LLC grew its position in 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 acquiring an additional 238 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after acquiring 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 4th 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. Institutional investors own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Morgan Stanley increased their target price on Elastic from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Truist Financial boosted their target price on shares of Elastic from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Cantor Fitzgerald initiated coverage on shares of Elastic in a research note on Friday, January 17th. They set a “neutral” rating and a $108.00 target price for the company. Barclays upped their price target on shares of Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Finally, Guggenheim lifted their price objective on Elastic from $130.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Seven investment 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $131.52.

Insider Transactions at Elastic

In other news, CTO Shay Banon sold 2,683 shares of Elastic stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.78, for a total transaction of $243,562.74. Following the transaction, the chief technology officer now owns 4,535,456 shares in the company, valued at $411,728,695.68. This trade represents a 0.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Mark Eugene Dodds sold 2,755 shares of the business’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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 193,304 shares of company stock worth $20,334,252 over the last quarter. 15.90% of the stock is currently owned by insiders.

Elastic Stock Performance

Shares of Elastic stock opened at $101.71 on Tuesday. The firm has a market capitalization of $10.62 billion, a P/E ratio of 184.92 and a beta of 1.20. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96. The business has a fifty day simple moving average of $105.44 and a two-hundred day simple moving average of $95.58.

Elastic (NYSE:ESTC) last released 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 net margin of 4.39% and a negative return on equity of 13.20%. The firm had revenue of $382.08 million for the quarter, compared to the consensus estimate of $368.85 million. On average, equities analysts forecast that Elastic will post -0.77 earnings per share for the current fiscal 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.