Elastic (NYSE:ESTC) Stake Lifted by Duality Advisers LP

Duality Advisers LP lifted its holdings in Elastic (NYSE:ESTC) by 26.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,839 shares of the company’s stock after purchasing an additional 6,421 shares during the quarter. Duality Advisers LP’s holdings in Elastic were worth $3,476,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of ESTC. Sylebra Capital LLC bought a new position in shares of Elastic in the third quarter worth $318,822,000. Alkeon Capital Management LLC boosted its stake in Elastic by 82.1% during the third quarter. Alkeon Capital Management LLC now owns 1,995,985 shares of the company’s stock valued at $162,154,000 after buying an additional 900,000 shares in the last quarter. FMR LLC boosted its stake in Elastic by 4.7% during the third quarter. FMR LLC now owns 9,051,434 shares of the company’s stock valued at $735,338,000 after buying an additional 409,717 shares in the last quarter. Vanguard Group Inc. boosted its stake in Elastic by 4.6% during the third quarter. Vanguard Group Inc. now owns 8,573,534 shares of the company’s stock valued at $696,514,000 after buying an additional 380,694 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its stake in Elastic by 2.8% during the fourth quarter. Baillie Gifford & Co. now owns 7,764,370 shares of the company’s stock valued at $875,044,000 after buying an additional 211,896 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Elastic Stock Up 2.2 %

Shares of Elastic stock opened at $98.35 on Tuesday. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.80. Elastic has a 1 year low of $54.06 and a 1 year high of $136.06. The stock has a 50-day moving average price of $108.34 and a 200 day moving average price of $102.24. The company has a market cap of $9.91 billion, a P/E ratio of 213.80 and a beta of 0.94.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, February 29th. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.01. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. The company had revenue of $327.96 million for the quarter, compared to analyst estimates of $320.48 million. As a group, analysts expect that Elastic will post -1.13 EPS for the current fiscal year.

Analysts Set New Price Targets

ESTC has been the subject of several research reports. Oppenheimer raised their target price on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Scotiabank decreased their target price on Elastic from $185.00 to $154.00 and set a “sector outperform” rating for the company in a research note on Friday, March 1st. Truist Financial raised their target price on Elastic from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. TheStreet raised Elastic from a “d+” rating to a “c-” rating in a report on Wednesday, February 7th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Elastic currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.26.

Insiders Place Their Bets

In other Elastic news, Director Steven Schuurman sold 815,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total value of $79,495,100.00. Following the transaction, 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 legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Ashutosh Kulkarni sold 15,778 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $103.28, for a total transaction of $1,629,551.84. Following the transaction, the chief executive officer now owns 364,235 shares of the company’s stock, valued at approximately $37,618,190.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Steven Schuurman sold 815,000 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total value of $79,495,100.00. Following the transaction, the director now directly owns 8,382,000 shares in the company, valued at approximately $817,580,280. The disclosure for this sale can be found here. Insiders have sold a total of 962,440 shares of company stock valued at $94,535,764 in the last three months. Insiders own 18.10% of the company’s stock.

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.