Stevens Capital Management LP Takes Position in Elastic (NYSE:ESTC)

Stevens Capital Management LP bought a new position in shares of Elastic (NYSE:ESTC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,463 shares of the company’s stock, valued at approximately $244,000.

A number of other large investors have also added to or reduced their stakes in the business. Geneos Wealth Management Inc. bought a new position in shares of Elastic in the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. bought a new position in Elastic in the 4th quarter valued at about $25,000. Venturi Wealth Management LLC lifted its position in Elastic by 793.3% during the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after acquiring an additional 238 shares during the last quarter. Smartleaf Asset Management LLC boosted 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 worth $28,000 after acquiring an additional 158 shares during the period. Finally, Global Retirement Partners LLC grew its position 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. Institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

ESTC has been the subject of several research reports. Rosenblatt Securities reissued a “buy” rating and set a $130.00 price target on shares of Elastic in a report on Tuesday, February 25th. Piper Sandler boosted their target price on shares of Elastic from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Guggenheim raised their price target on shares of Elastic from $130.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Citigroup boosted their price objective on shares of Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Canaccord Genuity Group raised their target price on shares of Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.52.

Elastic Stock Up 4.6 %

Shares of NYSE ESTC opened at $101.71 on Tuesday. The company has a 50 day simple moving average of $105.44 and a 200 day simple moving average of $95.58. 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 has a 1 year low of $69.00 and a 1 year high of $123.96. The firm has a market cap of $10.62 billion, a PE ratio of 184.92 and a beta of 1.20.

Elastic (NYSE:ESTC) last issued its quarterly 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 for the quarter, compared to analyst estimates of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. On average, research analysts forecast that Elastic will post -0.77 EPS for the current year.

Insider Buying and Selling at Elastic

In other Elastic news, insider Carolyn Herzog sold 3,334 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.78, for a total transaction of $302,660.52. Following the sale, the insider now owns 84,152 shares of the company’s stock, valued at approximately $7,639,318.56. This represents a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 140,129 shares of Elastic stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $106.68, for a total value of $14,948,961.72. Following the completion of the transaction, the chief technology officer now directly owns 2,254,978 shares of the company’s stock, valued at approximately $240,561,053.04. This trade represents a 5.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 193,304 shares of company stock worth $20,334,252. Insiders own 15.90% of the company’s stock.

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.