CIBC Private Wealth Group LLC Has $3.46 Million Stock Position in Elastic (NYSE:ESTC)

CIBC Private Wealth Group LLC lessened its holdings in Elastic (NYSE:ESTC) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,313 shares of the company’s stock after selling 579 shares during the period. CIBC Private Wealth Group LLC’s holdings in Elastic were worth $3,462,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new stake in shares of Elastic in the fourth quarter worth approximately $25,000. SBI Securities Co. Ltd. bought a new position in Elastic during the 4th quarter valued at $25,000. Venturi Wealth Management LLC lifted its stake in Elastic by 793.3% during the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after acquiring an additional 238 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Elastic by 126.4% during the 4th 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 last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of Elastic by 1,065.2% in the 4th 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 own 97.03% of the company’s stock.

Elastic Stock Up 0.2 %

ESTC opened at $91.48 on Thursday. 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 one year low of $69.00 and a one year high of $123.96. The firm has a market capitalization of $9.55 billion, a P/E ratio of 166.33 and a beta of 1.20. The company has a fifty day moving average price of $104.65 and a 200-day moving average price of $96.47.

Elastic (NYSE:ESTC) last released its quarterly earnings results 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 business had revenue of $382.08 million during the quarter, compared to analysts’ expectations of $368.85 million. Equities research analysts expect that Elastic will post -0.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Elastic

In other news, CTO Shay Banon sold 25,668 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief technology officer now directly owns 2,408,541 shares in the company, valued at approximately $271,033,118.73. This represents a 1.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.77, for a total value of $1,700,575.95. Following the transaction, the chief executive officer now directly owns 376,591 shares in the company, valued at approximately $34,183,165.07. This represents a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 198,304 shares of company stock worth $20,847,452 over the last three months. 15.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Elastic from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Scotiabank reduced their target price on Elastic from $140.00 to $137.00 and set a “sector outperform” rating for the company in a report on Thursday, March 27th. Guggenheim lifted 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. Truist Financial reduced their price objective on Elastic from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $130.00 target price on shares of Elastic in a research note on Tuesday, February 25th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Elastic currently has an average rating of “Moderate Buy” and a consensus price target of $130.74.

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.