Vontobel Holding Ltd. Sells 3,938 Shares of Elastic (NYSE:ESTC)

Vontobel Holding Ltd. lessened its holdings in Elastic (NYSE:ESTC) by 18.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,035 shares of the company’s stock after selling 3,938 shares during the period. Vontobel Holding Ltd.’s holdings in Elastic were worth $1,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its position in shares of Elastic by 6.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,284 shares of the company’s stock valued at $186,000 after acquiring an additional 142 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Elastic by 19.6% during the third quarter. Advisors Asset Management Inc. now owns 928 shares of the company’s stock valued at $75,000 after purchasing an additional 152 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in Elastic by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 34,154 shares of the company’s stock valued at $2,775,000 after purchasing an additional 170 shares in the last quarter. Utah Retirement Systems grew its stake in shares of Elastic by 1.4% in the 4th quarter. Utah Retirement Systems now owns 14,000 shares of the company’s stock valued at $721,000 after purchasing an additional 200 shares during the period. Finally, Truist Financial Corp raised its holdings in shares of Elastic by 2.9% in the 4th quarter. Truist Financial Corp now owns 7,355 shares of the company’s stock worth $379,000 after buying an additional 207 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on ESTC shares. Stifel Nicolaus boosted their price target on Elastic from $99.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, March 1st. TheStreet upgraded shares of Elastic from a “d+” rating to a “c-” rating in a research note on Wednesday, February 7th. Oppenheimer upped their target price on shares of Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Rosenblatt Securities boosted their price target on shares of Elastic from $105.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, The Goldman Sachs Group upped their price objective on shares of Elastic from $93.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $111.26.

Insider Buying and Selling at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 15,778 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $103.28, for a total transaction of $1,629,551.84. Following the completion of the sale, the chief executive officer now owns 364,235 shares in the company, valued at approximately $37,618,190.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 transaction, the director now directly owns 8,382,000 shares in the company, valued at approximately $817,580,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ashutosh Kulkarni sold 15,778 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $103.28, for a total value of $1,629,551.84. Following the completion of the sale, the chief executive officer now directly owns 364,235 shares of the company’s stock, valued at $37,618,190.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 962,440 shares of company stock valued at $94,535,764. 18.10% of the stock is currently owned by insiders.

Elastic Price Performance

Elastic stock opened at $96.18 on Friday. The business’s 50-day simple moving average is $108.93 and its 200 day simple moving average is $101.75. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.80. The stock has a market cap of $9.69 billion, a price-to-earnings ratio of 209.09 and a beta of 0.94. Elastic has a 12-month low of $54.06 and a 12-month high of $136.06.

Elastic (NYSE:ESTC) last issued its 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 net margin of 4.63% and a negative return on equity of 23.94%. The company had revenue of $327.96 million for the quarter, compared to analyst estimates of $320.48 million. As a group, research analysts anticipate that Elastic will post -1.13 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.