Achmea Investment Management B.V. Has $16.55 Million Holdings in Elastic (NYSE:ESTC)

Achmea Investment Management B.V. lessened its stake in Elastic (NYSE:ESTC) by 6.8% in the fourth quarter, Holdings Channel reports. The firm owned 167,044 shares of the company’s stock after selling 12,249 shares during the quarter. Achmea Investment Management B.V.’s holdings in Elastic were worth $16,550,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ESTC. Geneos Wealth Management Inc. acquired a new position in Elastic during the fourth quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new position in Elastic during the fourth quarter worth about $25,000. Venturi Wealth Management LLC raised its stake 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 in 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 raised its stake in Elastic by 1,065.2% during the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock worth $53,000 after acquiring an additional 490 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Price Performance

Shares of ESTC opened at $98.61 on Thursday. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The business’s 50 day moving average price is $105.97 and its two-hundred day moving average price is $95.07. The firm has a market cap of $10.30 billion, a PE ratio of 179.30 and a beta of 1.20.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) 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 business had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. On average, equities analysts anticipate that Elastic will post -0.77 EPS for the current year.

Insider Buying and Selling at Elastic

In other news, CEO Ashutosh Kulkarni sold 7,017 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total transaction of $758,678.04. Following the transaction, the chief executive officer now directly owns 395,326 shares of the company’s stock, valued at $42,742,647.12. This represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Shay Banon sold 25,668 shares of the company’s stock in a transaction that occurred on Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total value of $2,888,420.04. Following the transaction, the chief technology officer now directly owns 2,408,541 shares in the company, valued at $271,033,118.73. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,321 shares of company stock valued at $21,092,930. 15.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on ESTC. Barclays boosted their target price on Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. The Goldman Sachs Group boosted their price target on Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. boosted their price target on Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Baird R W upgraded Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Guggenheim boosted their price target on Elastic from $130.00 to $136.00 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 given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Elastic presently has a consensus rating of “Moderate Buy” and an average price target 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.