Vanguard Group Inc. Purchases 168,483 Shares of Elastic (NYSE:ESTC)

Vanguard Group Inc. lifted its holdings in Elastic (NYSE:ESTC) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,352,108 shares of the company’s stock after purchasing an additional 168,483 shares during the period. Vanguard Group Inc. owned 9.02% of Elastic worth $926,607,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. M&T Bank Corp grew its holdings in Elastic by 3.1% in the 3rd quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock valued at $357,000 after buying an additional 139 shares during the last quarter. Sigma Planning Corp grew its stake in shares of Elastic by 3.7% in the fourth quarter. Sigma Planning Corp now owns 3,929 shares of the company’s stock worth $389,000 after acquiring an additional 139 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Elastic by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,053 shares of the company’s stock worth $302,000 after acquiring an additional 151 shares during the last quarter. Smartleaf Asset Management LLC increased its position 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 during the period. Finally, Van ECK Associates Corp raised its stake in Elastic by 0.7% during the 4th quarter. Van ECK Associates Corp now owns 32,954 shares of the company’s stock valued at $3,265,000 after purchasing an additional 220 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ESTC. Piper Sandler boosted their price objective on shares of Elastic from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Wedbush downgraded Elastic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Cantor Fitzgerald initiated coverage on Elastic in a report on Friday, January 17th. They issued a “neutral” rating and a $108.00 price target for the company. Canaccord Genuity Group lifted their price objective on Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, UBS Group upped their target price on Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $131.39.

Insider Buying and Selling

In other Elastic news, insider Carolyn Herzog sold 3,334 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.78, for a total transaction of $302,660.52. Following the completion of the sale, the insider now directly owns 84,152 shares of the company’s stock, valued at approximately $7,639,318.56. The trade was a 3.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 376,591 shares in the company, valued at approximately $34,183,165.07. The trade was a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 198,304 shares of company stock worth $20,847,452 in the last quarter. Insiders own 15.90% of the company’s stock.

Elastic Stock Performance

Shares of NYSE:ESTC opened at $91.55 on Friday. The business has a fifty day moving average of $105.25 and a 200-day moving average of $95.97. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. Elastic has a twelve month low of $69.00 and a twelve month high of $123.96. The firm has a market cap of $9.56 billion, a PE ratio of 166.46 and a beta of 1.20.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.48). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The company had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. On average, equities research analysts predict that Elastic will post -0.77 EPS 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.