Elastic (NYSE:ESTC) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC decreased its holdings in Elastic (NYSE:ESTC) by 3.7% during the 4th quarter, HoldingsChannel reports. The fund owned 5,497 shares of the company’s stock after selling 212 shares during the quarter. HighTower Advisors LLC’s holdings in Elastic were worth $545,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ESTC. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Elastic by 8.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,955 shares of the company’s stock worth $3,860,000 after acquiring an additional 2,977 shares during the period. Amundi boosted its holdings in shares of Elastic by 27.4% in the fourth quarter. Amundi now owns 832,470 shares of the company’s stock valued at $81,615,000 after acquiring an additional 179,054 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Elastic by 16.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,111 shares of the company’s stock valued at $308,000 after purchasing an additional 437 shares in the last quarter. Lisanti Capital Growth LLC acquired a new position in Elastic during the fourth quarter worth about $645,000. Finally, Inceptionr LLC bought a new stake in shares of Elastic in the 4th quarter worth approximately $962,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Insider Activity at Elastic

In other Elastic news, CTO Shay Banon sold 140,129 shares of Elastic stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total value of $14,948,961.72. Following the transaction, the chief technology officer now owns 2,254,978 shares of the company’s stock, valued at approximately $240,561,053.04. The trade was a 5.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total transaction of $513,200.00. Following the sale, the chief executive officer now directly owns 371,591 shares of the company’s stock, valued at $38,140,100.24. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 198,304 shares of company stock worth $20,847,452 in the last quarter. Corporate insiders own 15.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Canaccord Genuity Group upped their target price on Elastic from $130.00 to $135.00 and gave the company a “buy” rating in a report on Friday, February 28th. UBS Group upped their target price on Elastic from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Guggenheim raised their price objective on shares of Elastic from $130.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price target on shares of Elastic in a report on Tuesday, February 25th. Finally, Robert W. Baird upped their target price on shares of Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $131.39.

Elastic Stock Performance

Shares of NYSE:ESTC opened at $91.55 on Friday. The firm’s 50 day simple moving average is $105.25 and its 200 day simple moving average is $96.13. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of 166.46 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 (NYSE:ESTC) last issued its earnings results on Thursday, February 27th. The company reported ($0.01) EPS 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 the consensus estimate of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. As a group, sell-side analysts forecast that Elastic will post -0.77 earnings per share for the current year.

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.