Elastic (NYSE:ESTC) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp grew its position in Elastic (NYSE:ESTC) by 11.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,843 shares of the company’s stock after acquiring an additional 699 shares during the period. Mackenzie Financial Corp’s holdings in Elastic were worth $771,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC raised its holdings in shares of Elastic by 4.7% in the 3rd quarter. FMR LLC now owns 9,051,434 shares of the company’s stock valued at $735,338,000 after purchasing an additional 409,717 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Elastic by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 8,573,534 shares of the company’s stock valued at $696,514,000 after buying an additional 380,694 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of Elastic by 2.8% in the 4th quarter. Baillie Gifford & Co. now owns 7,764,370 shares of the company’s stock valued at $875,044,000 after buying an additional 211,896 shares during the last quarter. Sylebra Capital LLC purchased a new position in shares of Elastic in the 3rd quarter valued at $318,822,000. Finally, JPMorgan Chase & Co. grew its position in shares of Elastic by 5.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,969,585 shares of the company’s stock valued at $241,249,000 after buying an additional 155,612 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Stock Up 1.0 %

Shares of NYSE:ESTC opened at $104.79 on Friday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.80. Elastic has a fifty-two week low of $54.06 and a fifty-two week high of $136.06. The firm’s 50-day simple moving average is $107.48 and its 200-day simple moving average is $102.40. The company has a market cap of $10.56 billion, a price-to-earnings ratio of 227.80 and a beta of 0.94.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.27) 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 firm had revenue of $327.96 million during the quarter, compared to analysts’ expectations of $320.48 million. As a group, equities research analysts predict that Elastic will post -1.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ESTC. Royal Bank of Canada increased their target price on shares of Elastic from $134.00 to $147.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Rosenblatt Securities increased their target price 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. TheStreet raised shares of Elastic from a “d+” rating to a “c-” rating in a research report on Wednesday, February 7th. Citigroup lowered their price objective on shares of Elastic from $165.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Finally, Oppenheimer raised their price objective 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. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $111.26.

Insider Activity at Elastic

In related news, CTO Shay Banon sold 1,322 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $106.23, for a total value of $140,436.06. Following the completion of the sale, the chief technology officer now owns 4,518,714 shares in the company, valued at $480,022,988.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Elastic news, CFO Janesh Moorjani sold 5,515 shares of Elastic stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $103.28, for a total transaction of $569,589.20. Following the completion of the transaction, the chief financial officer now owns 156,797 shares in the company, valued at $16,193,994.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Shay Banon sold 1,322 shares of Elastic stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $106.23, for a total transaction of $140,436.06. Following the transaction, the chief technology officer now owns 4,518,714 shares of the company’s stock, valued at approximately $480,022,988.22. The disclosure for this sale can be found here. Insiders sold 962,440 shares of company stock worth $94,535,764 over the last 90 days. Company insiders own 18.10% of the company’s stock.

About Elastic

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.