Elastic (NYSE:ESTC) Stock Position Lifted by Sigma Planning Corp

Sigma Planning Corp lifted its holdings in Elastic (NYSE:ESTC) by 3.7% in the 4th quarter, HoldingsChannel reports. The firm owned 3,929 shares of the company’s stock after purchasing an additional 139 shares during the quarter. Sigma Planning Corp’s holdings in Elastic were worth $389,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Slow Capital Inc. bought a new position in shares of Elastic in the fourth quarter worth $5,039,000. Wealth Effects LLC boosted its stake in Elastic by 25.4% during the fourth quarter. Wealth Effects LLC now owns 28,800 shares of the company’s stock valued at $2,854,000 after buying an additional 5,830 shares in the last quarter. Blueshift Asset Management LLC bought a new position in Elastic during the third quarter valued at about $585,000. Charles Schwab Investment Management Inc. boosted its stake in Elastic by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock valued at $41,901,000 after buying an additional 14,590 shares in the last quarter. Finally, Bangor Savings Bank bought a new position in Elastic during the fourth quarter valued at about $1,657,000. Institutional investors own 97.03% of the company’s stock.

Insider Transactions at Elastic

In other news, CEO Ashutosh Kulkarni sold 7,017 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was 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 of the company’s stock, valued at $42,742,647.12. This trade represents a 1.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 15.90% of the company’s stock.

Elastic Trading Down 2.4 %

Shares of NYSE ESTC opened at $101.05 on Friday. Elastic has a one year low of $69.00 and a one year high of $136.06. The firm has a market capitalization of $10.47 billion, a PE ratio of 183.73 and a beta of 1.07. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average price of $105.85 and a two-hundred day moving average price of $95.51.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. As a group, analysts predict that Elastic will post -0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ESTC shares. 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 note on Friday, November 22nd. Piper Sandler raised their target price on Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 target price on shares of Elastic in a research note on Tuesday. Citigroup raised their target price on Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, DA Davidson raised their target price on Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Seven equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.78.

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.