Elastic (NYSE:ESTC) Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its position in shares of Elastic (NYSE:ESTC) by 5,972.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 744,358 shares of the company’s stock after purchasing an additional 732,100 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.72% of Elastic worth $73,751,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Pamplona Capital Management LLC acquired a new stake in Elastic during the 4th quarter valued at approximately $20,866,000. Pictet Asset Management Holding SA lifted its position in Elastic by 15.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company’s stock valued at $339,820,000 after purchasing an additional 462,974 shares during the period. Norges Bank purchased a new stake in Elastic in the fourth quarter valued at $102,485,000. WINTON GROUP Ltd acquired a new stake in Elastic during the 4th quarter worth about $1,642,000. Finally, Artisan Partners Limited Partnership raised its stake in shares of Elastic by 4.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 485,436 shares of the company’s stock valued at $48,097,000 after buying an additional 21,160 shares during 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 2,683 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $90.78, for a total value of $243,562.74. Following the completion of the transaction, the chief technology officer now directly owns 4,535,456 shares in the company, valued at approximately $411,728,695.68. This represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Mark Eugene Dodds sold 2,755 shares of Elastic stock in a transaction 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 completion of the sale, the executive now owns 96,484 shares in the company, valued at $8,757,852.68. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 198,304 shares of company stock valued at $20,847,452. 15.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on ESTC. Robert W. Baird upped their target price on Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Jefferies Financial Group dropped their price objective on shares of Elastic from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday. Morgan Stanley boosted their target price 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. Cantor Fitzgerald assumed coverage on shares of Elastic in a research report on Friday, January 17th. They set a “neutral” rating and a $108.00 price target on the stock. Finally, Canaccord Genuity Group increased their target price on shares of Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Seven research 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $130.74.

Elastic Trading Down 2.8 %

ESTC opened at $89.12 on Tuesday. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 162.04 and a beta of 1.20. The company’s 50 day simple moving average is $105.03 and its two-hundred day simple moving average is $96.39. 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 announced 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 company had revenue of $382.08 million for the quarter, compared to analysts’ expectations of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. Analysts expect 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.