335 Shares in Elastic (NYSE:ESTC) Purchased by GAMMA Investing LLC

GAMMA Investing LLC acquired a new stake in Elastic (NYSE:ESTC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 335 shares of the company’s stock, valued at approximately $39,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Rakuten Securities Inc. bought a new position in shares of Elastic in the fourth quarter worth $25,000. Covestor Ltd raised its position in shares of Elastic by 168.3% in the 3rd quarter. Covestor Ltd now owns 448 shares of the company’s stock valued at $36,000 after buying an additional 281 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Elastic by 40.3% during the 4th quarter. Blue Trust Inc. now owns 1,449 shares of the company’s stock worth $163,000 after acquiring an additional 416 shares during the period. 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 worth $186,000 after acquiring an additional 142 shares in the last quarter. Finally, Ardsley Advisory Partners LP bought a new position in Elastic in the third quarter valued at approximately $203,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ESTC shares. Scotiabank reduced their target price on Elastic from $185.00 to $154.00 and set a “sector outperform” rating on the stock in a report on Friday, March 1st. TheStreet raised Elastic from a “d+” rating to a “c-” rating in a research note on Wednesday, February 7th. Truist Financial raised their price target on shares of Elastic from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Royal Bank of Canada upped their price objective on shares of Elastic from $134.00 to $147.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Finally, Rosenblatt Securities raised 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. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $111.26.

Elastic Price Performance

Shares of NYSE ESTC opened at $105.66 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. The company has a market capitalization of $10.65 billion, a PE ratio of 229.70 and a beta of 0.92. The firm has a fifty day simple moving average of $104.26 and a 200 day simple moving average of $103.61. Elastic has a twelve month low of $54.54 and a twelve month high of $136.06.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.01. The company had revenue of $327.96 million for the quarter, compared to the consensus estimate of $320.48 million. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. On average, sell-side analysts forecast that Elastic will post -1.13 EPS for the current year.

Insider Buying and Selling

In other Elastic news, Director Steven Schuurman sold 815,000 shares of the company’s 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 $817,580,280. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Elastic news, Director Steven Schuurman sold 815,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 8,382,000 shares of the company’s stock, valued at approximately $817,580,280. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Carolyn Herzog sold 2,591 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $103.28, for a total value of $267,598.48. Following the completion of the transaction, the insider now owns 87,799 shares in the company, valued at approximately $9,067,880.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 962,440 shares of company stock valued at $94,535,764. 18.10% of the stock is owned by company insiders.

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.