Elastic (NYSE:ESTC) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lessened its holdings in Elastic (NYSE:ESTC) by 17.8% during the 4th quarter, Holdings Channel reports. The firm owned 2,233 shares of the company’s stock after selling 485 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Elastic were worth $252,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ESTC. Covestor Ltd raised its position in shares of Elastic by 168.3% during the 3rd quarter. Covestor Ltd now owns 448 shares of the company’s stock worth $36,000 after purchasing an additional 281 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new position in Elastic during the third quarter worth $151,000. PNC Financial Services Group Inc. raised its holdings in shares of Elastic by 6.6% in the third quarter. PNC Financial Services Group Inc. now owns 2,284 shares of the company’s stock worth $186,000 after acquiring an additional 142 shares during the last quarter. Ardsley Advisory Partners LP purchased a new stake in shares of Elastic in the third quarter valued at $203,000. Finally, Catalyst Private Wealth LLC acquired a new stake in shares of Elastic during the fourth quarter valued at $208,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Elastic news, CEO Ashutosh Kulkarni sold 15,778 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $103.28, for a total value of $1,629,551.84. Following the transaction, the chief executive officer now directly owns 364,235 shares of the company’s stock, valued at $37,618,190.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Carolyn Herzog sold 2,591 shares of Elastic stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $103.28, for a total transaction of $267,598.48. Following the sale, the insider now owns 87,799 shares in the company, valued at $9,067,880.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the chief executive officer now owns 364,235 shares of the company’s stock, valued at $37,618,190.80. The disclosure for this sale can be found here. In the last three months, insiders sold 962,440 shares of company stock valued at $94,535,764. Company insiders own 18.10% of the company’s stock.

Elastic Stock Up 4.2 %

Shares of NYSE:ESTC opened at $102.54 on Wednesday. The stock has a 50-day simple moving average of $108.34 and a 200-day simple moving average of $102.24. The stock has a market capitalization of $10.34 billion, a P/E ratio of 222.91 and a beta of 0.94. Elastic has a 1 year low of $54.06 and a 1 year high of $136.06. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.87 and a current ratio of 1.87.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $320.48 million. Equities analysts forecast that Elastic will post -1.13 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citigroup cut their target price on shares of Elastic from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Scotiabank cut their price objective on shares of Elastic from $185.00 to $154.00 and set a “sector outperform” rating for the company in a research report on Friday, March 1st. Oppenheimer raised their target price on shares of Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Barclays cut their price target on Elastic from $130.00 to $128.00 and set an “equal weight” rating for the company in a report on Friday, March 1st. Finally, The Goldman Sachs Group raised their price objective on Elastic from $93.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $111.26.

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.