Elastic (NYSE:ESTC) Shares Acquired by Swiss National Bank

Swiss National Bank increased its holdings in Elastic (NYSE:ESTC) by 1.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 171,800 shares of the company’s stock after buying an additional 3,000 shares during the period. Swiss National Bank owned about 0.17% of Elastic worth $17,022,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. M&T Bank Corp boosted its holdings in shares of 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 period. Sigma Planning Corp lifted its position in Elastic by 3.7% in the 4th quarter. Sigma Planning Corp now owns 3,929 shares of the company’s stock valued at $389,000 after purchasing an additional 139 shares during the last quarter. CIBC Asset Management Inc lifted its position in Elastic by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,053 shares of the company’s stock valued at $302,000 after purchasing an additional 151 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after purchasing an additional 158 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in Elastic by 3.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company’s stock valued at $523,000 after purchasing an additional 219 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Elastic

In related news, CTO Shay Banon sold 25,668 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief technology officer now directly owns 2,408,541 shares of the company’s stock, valued at approximately $271,033,118.73. The trade was a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Mark Eugene Dodds sold 2,755 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.77, for a total transaction of $250,071.35. Following the transaction, the executive now directly owns 96,484 shares in the company, valued at $8,757,852.68. The trade was a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 193,304 shares of company stock valued at $20,334,252 over the last ninety days. Corporate insiders own 15.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ESTC. Piper Sandler lifted their price objective on shares of Elastic from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Guggenheim lifted their price objective on shares of Elastic from $130.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Barclays lifted their price objective on shares of Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. DA Davidson boosted their price target on shares of Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Wedbush downgraded shares of Elastic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Seven investment 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $131.52.

Elastic Stock Performance

Elastic stock opened at $93.81 on Wednesday. The firm’s 50 day simple moving average is $105.45 and its 200-day simple moving average is $94.92. The company has a market cap of $9.79 billion, a P/E ratio of 170.56 and a beta of 1.20. 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 fifty-two week low of $69.00 and a fifty-two week high of $123.96.

Elastic (NYSE:ESTC) last released its 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). The firm had revenue of $382.08 million during 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%. As a group, equities research analysts predict that Elastic will post -0.77 EPS for the current year.

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.