Elastic (NYSE:ESTC) Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers boosted its position in Elastic (NYSE:ESTC) by 13.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,203 shares of the company’s stock after buying an additional 843 shares during the period. Cetera Investment Advisers’ holdings in Elastic were worth $714,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. purchased a new stake in shares of Elastic in the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. acquired a new stake in Elastic in the fourth quarter valued at about $25,000. Venturi Wealth Management LLC lifted its position in Elastic by 793.3% in the fourth 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 boosted its holdings in Elastic by 126.4% in the 4th 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 increased its position in Elastic by 1,065.2% during the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock worth $53,000 after purchasing an additional 490 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Carolyn Herzog sold 3,334 shares of Elastic stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.78, for a total value of $302,660.52. Following the completion of the sale, the insider now owns 84,152 shares of the company’s stock, valued at $7,639,318.56. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Shay Banon sold 140,129 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total value of $14,948,961.72. Following the completion of the transaction, the chief technology officer now owns 2,254,978 shares of the company’s stock, valued at $240,561,053.04. The trade was a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 198,304 shares of company stock valued at $20,847,452 over the last 90 days. Insiders own 15.90% of the company’s stock.

Elastic Stock Down 0.7%

ESTC opened at $92.38 on Monday. The firm has a market cap of $9.65 billion, a P/E ratio of 167.96 and a beta of 1.20. The business’s fifty day simple moving average is $86.32 and its 200 day simple moving average is $97.70. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. 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 (NYSE:ESTC) last released 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). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The firm had revenue of $382.08 million during the quarter, compared to analysts’ expectations of $368.85 million. As a group, equities research analysts anticipate that Elastic will post -0.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. TD Securities reduced their price target on Elastic from $125.00 to $105.00 and set a “hold” rating for the company in a report on Wednesday, May 21st. Piper Sandler increased their price objective on Elastic from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Wells Fargo & Company boosted their target price on shares of Elastic from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Morgan Stanley lowered their price target 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. Finally, Guggenheim increased their price target on shares of Elastic from $130.00 to $136.00 and gave the company a “buy” rating in a report on Friday, February 28th. Nine equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $125.96.

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.