Wells Fargo & Company MN Has $4.15 Million Stock Holdings in Elastic (NYSE:ESTC)

Wells Fargo & Company MN decreased its position in Elastic (NYSE:ESTC) by 21.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 41,910 shares of the company’s stock after selling 11,454 shares during the period. Wells Fargo & Company MN’s holdings in Elastic were worth $4,152,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in shares of Elastic in the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. bought a new position in Elastic during the 4th quarter worth about $25,000. Venturi Wealth Management LLC raised its stake in shares of Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after purchasing an additional 158 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of Elastic by 1,065.2% during the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock worth $53,000 after buying an additional 490 shares during the period. Institutional investors own 97.03% of the company’s stock.

Insider Buying and Selling

In other Elastic news, CTO Shay Banon sold 140,129 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the completion of the sale, the chief technology officer now directly owns 2,254,978 shares in the company, valued at $240,561,053.04. This represents a 5.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ashutosh Kulkarni sold 18,735 shares of Elastic stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.77, for a total value of $1,700,575.95. Following the completion of the transaction, the chief executive officer now owns 376,591 shares in the company, valued at approximately $34,183,165.07. The trade was a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,304 shares of company stock valued at $20,847,452 over the last quarter. 15.90% of the stock is owned by company insiders.

Elastic Stock Performance

Shares of NYSE ESTC opened at $75.78 on Tuesday. Elastic has a one year low of $69.00 and a one year high of $123.96. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of 137.78 and a beta of 1.19. The stock’s fifty day moving average price is $94.38 and its two-hundred day moving average price is $96.63.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). The business had revenue of $382.08 million for the quarter, compared to analyst estimates of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. On average, equities analysts forecast that Elastic will post -0.77 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ESTC shares. DA Davidson reduced their price target on Elastic from $115.00 to $75.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Robert W. Baird raised their target price on shares of Elastic from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price target on shares of Elastic in a research note on Tuesday, February 25th. Morgan Stanley decreased their price objective on Elastic from $140.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, Truist Financial dropped their target price on Elastic from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $127.48.

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.