Elastic (NYSE:ESTC) Shares Sold by River Global Investors LLP

River Global Investors LLP trimmed its position in Elastic (NYSE:ESTC) by 41.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,658 shares of the company’s stock after selling 8,226 shares during the quarter. River Global Investors LLP’s holdings in Elastic were worth $1,155,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. M&T Bank Corp increased 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 worth $357,000 after buying an additional 139 shares during the period. Sigma Planning Corp increased 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 period. CIBC Asset Management Inc increased 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 period. Smartleaf Asset Management LLC raised 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 purchasing an additional 158 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its position in Elastic by 7.0% during the third quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock valued at $235,000 after purchasing an additional 201 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insider Activity

In other Elastic news, CTO Shay Banon sold 25,668 shares of Elastic stock in a transaction dated Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the completion of the sale, the chief technology officer now directly owns 2,408,541 shares in the company, valued at $271,033,118.73. This trade represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total transaction of $758,678.04. Following the completion of the sale, the chief executive officer now directly owns 395,326 shares in the company, valued at $42,742,647.12. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 172,814 shares of company stock valued at $18,596,060 in the last quarter. Insiders own 15.90% of the company’s stock.

Elastic Price Performance

Shares of ESTC stock opened at $94.94 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The company has a market capitalization of $9.84 billion, a PE ratio of 172.61 and a beta of 1.20. The firm’s 50-day moving average is $106.32 and its two-hundred day moving average is $95.56. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.47 by ($0.48). The firm had revenue of $382.08 million for the quarter, compared to analysts’ expectations of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. Analysts predict that Elastic will post -0.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barclays lifted their price objective on Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. UBS Group lifted their price target on Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Wells Fargo & Company boosted their price target on Elastic from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Morgan Stanley raised their price objective on shares of Elastic from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, Royal Bank of Canada raised their target price on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $131.52.

About Elastic

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.