International Assets Investment Management LLC Makes New Investment in Elastic (NYSE:ESTC)

International Assets Investment Management LLC bought a new position in Elastic (NYSE:ESTC) in the 4th quarter, Holdings Channel.com reports. The firm bought 22,765 shares of the company’s stock, valued at approximately $25,660,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Elastic by 4.6% during the third quarter. Vanguard Group Inc. now owns 8,573,534 shares of the company’s stock worth $696,514,000 after acquiring an additional 380,694 shares during the period. UBS Group AG grew its stake in shares of Elastic by 28.0% during the 3rd quarter. UBS Group AG now owns 56,805 shares of the company’s stock worth $4,615,000 after purchasing an additional 12,430 shares during the period. Northern Trust Corp increased its holdings in shares of Elastic by 3.8% in the 3rd quarter. Northern Trust Corp now owns 372,712 shares of the company’s stock valued at $30,279,000 after purchasing an additional 13,587 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of Elastic in the third quarter valued at about $230,000. Finally, Rhumbline Advisers lifted its stake in shares of Elastic by 4.5% in the third quarter. Rhumbline Advisers now owns 101,866 shares of the company’s stock valued at $8,276,000 after purchasing an additional 4,412 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Insider Buying and Selling at Elastic

In related news, CEO Ashutosh Kulkarni sold 15,778 shares of Elastic stock in a transaction on 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 owns 364,235 shares in the company, valued at $37,618,190.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Steven Schuurman sold 815,000 shares of Elastic stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the transaction, the director now owns 8,382,000 shares in the company, valued at approximately $817,580,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ashutosh Kulkarni sold 15,778 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $103.28, for a total transaction of $1,629,551.84. Following 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. Insiders have sold a total of 962,440 shares of company stock worth $94,535,764 in the last quarter. 18.10% of the stock is owned by insiders.

Elastic Stock Performance

NYSE ESTC opened at $105.66 on Friday. The business’s 50-day moving average price is $104.26 and its 200 day moving average price is $103.45. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.80. Elastic has a twelve month low of $54.54 and a twelve month high of $136.06. The company has a market capitalization of $10.65 billion, a PE ratio of 229.70 and a beta of 0.92.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.27) earnings per share 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 business had revenue of $327.96 million for the quarter, compared to analyst estimates of $320.48 million. On average, research analysts predict that Elastic will post -1.13 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on ESTC shares. 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 report on Monday, March 4th. Rosenblatt Securities raised their price objective on Elastic from $105.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Stifel Nicolaus boosted their target price on Elastic from $99.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Barclays lowered their target price on Elastic from $130.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday, March 1st. Finally, TheStreet raised Elastic from a “d+” rating to a “c-” rating in a research note on Wednesday, February 7th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus 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.