Sumitomo Mitsui DS Asset Management Company Ltd Grows Position in Elastic (NYSE:ESTC)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Elastic (NYSE:ESTC) by 11.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,865 shares of the company’s stock after acquiring an additional 492 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Elastic were worth $548,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rakuten Securities Inc. purchased a new stake in shares of Elastic in the 4th quarter valued at about $25,000. Covestor Ltd boosted its position in shares of Elastic by 168.3% during the third quarter. Covestor Ltd now owns 448 shares of the company’s stock valued at $36,000 after purchasing an additional 281 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Elastic by 40.3% during the fourth quarter. Blue Trust Inc. now owns 1,449 shares of the company’s stock valued at $163,000 after purchasing an additional 416 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Elastic by 6.6% during the third quarter. PNC Financial Services Group Inc. now owns 2,284 shares of the company’s stock valued at $186,000 after purchasing an additional 142 shares in the last quarter. Finally, Ardsley Advisory Partners LP purchased a new position in Elastic during the third quarter valued at $203,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Stock Up 1.0 %

Elastic stock opened at $104.79 on Friday. The stock has a fifty day moving average of $107.48 and a 200 day moving average of $102.40. Elastic has a one year low of $54.06 and a one year high of $136.06. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.87 and a current ratio of 1.87. The stock has a market cap of $10.56 billion, a PE ratio of 227.80 and a beta of 0.94.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.01. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. The business had revenue of $327.96 million during the quarter, compared to analyst estimates of $320.48 million. As a group, sell-side analysts predict that Elastic will post -1.13 EPS for the current year.

Insider Buying and Selling at Elastic

In other Elastic news, Director Steven Schuurman sold 815,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the completion of the sale, the director now owns 8,382,000 shares of the company’s stock, valued at $817,580,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Elastic news, Director Steven Schuurman sold 815,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the completion of the sale, the director now owns 8,382,000 shares of the company’s stock, valued at $817,580,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ashutosh Kulkarni sold 15,778 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $103.28, for a total value of $1,629,551.84. Following the sale, the chief executive officer now owns 364,235 shares of the company’s stock, valued at approximately $37,618,190.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 962,440 shares of company stock valued at $94,535,764. Company insiders own 18.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ESTC. Barclays lowered their price objective on Elastic from $130.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, March 1st. Royal Bank of Canada lifted their price objective on Elastic from $134.00 to $147.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Rosenblatt Securities boosted their price target on Elastic from $105.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Truist Financial boosted their price target on Elastic from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Finally, Oppenheimer boosted their price target on Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Elastic has an average rating of “Moderate Buy” and an average price target of $111.26.

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.