Federated Hermes Inc. Grows Position in Elastic (NYSE:ESTC)

Federated Hermes Inc. boosted its holdings in Elastic (NYSE:ESTC) by 2,474.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,291 shares of the company’s stock after acquiring an additional 2,202 shares during the quarter. Federated Hermes Inc.’s holdings in Elastic were worth $258,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. FMR LLC raised its position in Elastic by 4.7% in the third quarter. FMR LLC now owns 9,051,434 shares of the company’s stock worth $735,338,000 after acquiring an additional 409,717 shares in the last quarter. Vanguard Group Inc. raised its position in Elastic by 4.6% in 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 in the last quarter. Baillie Gifford & Co. raised its position in Elastic by 2.8% in the fourth quarter. Baillie Gifford & Co. now owns 7,764,370 shares of the company’s stock worth $875,044,000 after acquiring an additional 211,896 shares in the last quarter. Sylebra Capital LLC acquired a new stake in Elastic in the third quarter valued at $318,822,000. Finally, JPMorgan Chase & Co. grew its holdings in Elastic by 5.5% in the third quarter. JPMorgan Chase & Co. now owns 2,969,585 shares of the company’s stock valued at $241,249,000 after purchasing an additional 155,612 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analysts Set New Price Targets

ESTC has been the topic of several research reports. Stifel Nicolaus upped their target price on Elastic from $99.00 to $130.00 and gave the company a “buy” rating in a report on Friday, March 1st. The Goldman Sachs Group upped their target price on Elastic from $93.00 to $106.00 and gave the company a “neutral” rating in a 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. Oppenheimer upped their target price on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Finally, Rosenblatt Securities upped their target price on Elastic from $105.00 to $136.00 and gave the company a “buy” rating in a report on Friday, March 1st. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Elastic currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.26.

Elastic Trading Down 0.4 %

NYSE:ESTC opened at $105.66 on Monday. The business has a 50 day simple moving average of $104.26 and a 200 day simple moving average of $103.76. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.87 and a quick ratio of 1.87. The firm has a market capitalization of $10.65 billion, a P/E ratio of 229.70 and a beta of 0.92. Elastic has a 12-month low of $54.54 and a 12-month high of $136.06.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.01. The business had revenue of $327.96 million during the quarter, compared to analysts’ expectations of $320.48 million. Elastic had a net margin of 4.63% and a negative return on equity of 23.94%. Equities research analysts predict that Elastic will post -1.13 EPS for the current year.

Insiders Place Their Bets

In other Elastic news, insider Carolyn Herzog sold 2,591 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $103.28, for a total transaction of $267,598.48. Following the completion of the sale, the insider now directly owns 87,799 shares of the company’s stock, valued at approximately $9,067,880.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Carolyn Herzog sold 2,591 shares of the firm’s stock in a transaction 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 directly owns 87,799 shares of the company’s stock, valued at $9,067,880.72. The transaction was disclosed in a document filed 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 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 in the company, valued at $37,618,190.80. The disclosure for this sale can be found here. Insiders sold 962,440 shares of company stock worth $94,535,764 over the last three months. 18.10% of the stock is currently owned by corporate insiders.

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.