Cerity Partners LLC Acquires New Stake in Elastic (NYSE:ESTC)

Cerity Partners LLC acquired a new stake in shares of Elastic (NYSE:ESTC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,775 shares of the company’s stock, valued at approximately $374,000.

Several other hedge funds have also added to or reduced their stakes in ESTC. Federated Hermes Inc. raised its position in shares of Elastic by 15.4% in the 4th quarter. Federated Hermes Inc. now owns 884,400 shares of the company’s stock worth $87,626,000 after purchasing an additional 118,294 shares during the last quarter. MIG Capital LLC bought a new stake in Elastic during the 4th quarter valued at about $15,839,000. Russell Investments Group Ltd. raised its holdings in Elastic by 843.7% in the fourth quarter. Russell Investments Group Ltd. now owns 14,448 shares of the company’s stock worth $1,432,000 after buying an additional 12,917 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Elastic by 17.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 24,348 shares of the company’s stock worth $2,412,000 after buying an additional 3,602 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its holdings in shares of Elastic by 12.4% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 8,932 shares of the company’s stock valued at $885,000 after buying an additional 985 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 5,000 shares of Elastic stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total value of $513,200.00. Following the sale, the chief executive officer now directly owns 371,591 shares in the company, valued at approximately $38,140,100.24. The trade was a 1.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Shay Banon sold 140,129 shares of the business’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 owns 2,254,978 shares in the company, valued at approximately $240,561,053.04. The trade was a 5.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 198,304 shares of company stock valued at $20,847,452 over the last ninety days. 15.90% of the stock is currently owned by company insiders.

Elastic Stock Up 0.7 %

ESTC stock opened at $76.23 on Wednesday. The business’s 50-day moving average price is $93.55 and its 200-day moving average price is $96.49. The stock has a market cap of $7.96 billion, a P/E ratio of 138.61 and a beta of 1.19. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a twelve month low of $69.00 and a twelve month high of $123.96.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Scotiabank decreased their price objective on shares of Elastic from $140.00 to $137.00 and set a “sector outperform” rating for the company in a report on Thursday, March 27th. Jefferies Financial Group decreased their price target on Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 price target on shares of Elastic in a report on Tuesday, February 25th. Cantor Fitzgerald began coverage on Elastic in a report on Friday, January 17th. They issued a “neutral” rating and a $108.00 price objective for the company. Finally, Morgan Stanley lowered their target price on shares of Elastic from $140.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $127.48.

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.