Elastic (NYSE:ESTC) Shares Purchased by Private Advisor Group LLC

Private Advisor Group LLC boosted its stake in Elastic (NYSE:ESTC) by 299.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,981 shares of the company’s stock after buying an additional 8,234 shares during the quarter. Private Advisor Group LLC’s holdings in Elastic were worth $1,088,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its position in shares of Elastic by 25.6% in the third quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after acquiring an additional 1,115,750 shares in the last quarter. Atreides Management LP boosted its stake in Elastic by 57.2% during the 3rd quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock worth $129,555,000 after purchasing an additional 614,309 shares during the last quarter. JAT Capital Mgmt LP raised its position in shares of Elastic by 601.4% in the third quarter. JAT Capital Mgmt LP now owns 465,549 shares of the company’s stock valued at $35,736,000 after buying an additional 399,175 shares during the last quarter. Thematics Asset Management boosted its position in Elastic by 463.3% during the third quarter. Thematics Asset Management now owns 444,012 shares of the company’s stock worth $34,082,000 after acquiring an additional 365,192 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Elastic by 256.3% during the 3rd quarter. Franklin Resources Inc. now owns 341,524 shares of the company’s stock valued at $28,387,000 after acquiring an additional 245,680 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ESTC has been the topic of a number of research reports. Robert W. Baird raised their target price on shares of Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays boosted their price objective on Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Baird R W raised Elastic from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Canaccord Genuity Group boosted their price target on shares of Elastic from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Friday. Finally, DA Davidson raised their price objective 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. Seven 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 company. According to MarketBeat, Elastic currently has a consensus rating of “Moderate Buy” and an average price target of $131.09.

Elastic Price Performance

Shares of ESTC opened at $116.38 on Friday. The company has a market cap of $12.06 billion, a P/E ratio of 211.61 and a beta of 1.07. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average price is $105.85 and its 200 day moving average price is $95.51.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.48). The company had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. On average, research analysts forecast that Elastic will post -0.77 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total transaction of $758,678.04. Following the completion of the transaction, the chief executive officer now owns 395,326 shares in the company, valued at approximately $42,742,647.12. The trade was a 1.74 % 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. Company insiders own 15.90% of the company’s stock.

Elastic Company 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.