Mercer Global Advisors Inc. ADV Takes Position in Elastic (NYSE:ESTC)

Mercer Global Advisors Inc. ADV purchased a new position in Elastic (NYSE:ESTC) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 4,737 shares of the company’s stock, valued at approximately $469,000.

Other institutional investors have also made changes to their positions in the company. Slow Capital Inc. bought a new position in Elastic during the fourth quarter worth about $5,039,000. Wealth Effects LLC lifted its holdings in shares of Elastic by 25.4% during the 4th quarter. Wealth Effects LLC now owns 28,800 shares of the company’s stock valued at $2,854,000 after purchasing an additional 5,830 shares in the last quarter. Smith Group Asset Management LLC acquired a new stake in Elastic during the 4th quarter worth approximately $3,408,000. Nisa Investment Advisors LLC raised its holdings in Elastic by 3,442.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 14,525 shares of the company’s stock worth $1,439,000 after buying an additional 14,115 shares during the period. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Elastic by 187.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,073 shares of the company’s stock valued at $899,000 after buying an additional 5,919 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ESTC has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on shares of Elastic from $140.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Guggenheim increased their price objective on Elastic from $130.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Truist Financial dropped their target price on Elastic from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Canaccord Genuity Group upped their price target on Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group lowered their price objective on shares of Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Seven research 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.48.

Insiders Place Their Bets

In related news, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total value of $513,200.00. Following the completion of the transaction, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Mark Eugene Dodds sold 2,755 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $250,071.35. Following the transaction, the executive now owns 96,484 shares of the company’s stock, valued at $8,757,852.68. This trade represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 198,304 shares of company stock worth $20,847,452 over the last three months. Insiders own 15.90% of the company’s stock.

Elastic Trading Up 0.9%

Shares of NYSE:ESTC opened at $93.56 on Wednesday. The business’s 50 day simple moving average is $86.67 and its 200 day simple moving average is $96.99. Elastic has a 1 year low of $69.00 and a 1 year high of $123.96. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The company has a market capitalization of $9.77 billion, a P/E ratio of 170.11 and a beta of 1.20.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) EPS 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%. The company had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. On average, research analysts anticipate that Elastic will post -0.77 EPS for the current fiscal 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.