WINTON GROUP Ltd Takes $1.64 Million Position in Elastic (NYSE:ESTC)

WINTON GROUP Ltd acquired a new position in shares of Elastic (NYSE:ESTC) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 16,568 shares of the company’s stock, valued at approximately $1,642,000.

Other institutional investors have also added to or reduced their stakes in the company. Slow Capital Inc. acquired a new stake in shares of Elastic in the 4th quarter valued at about $5,039,000. Wealth Effects LLC grew its holdings in shares of Elastic by 25.4% during the fourth quarter. Wealth Effects LLC now owns 28,800 shares of the company’s stock worth $2,854,000 after buying an additional 5,830 shares in the last quarter. Blueshift Asset Management LLC acquired a new stake in Elastic in the 3rd quarter valued at approximately $585,000. Charles Schwab Investment Management Inc. lifted its stake in Elastic by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock valued at $41,901,000 after acquiring an additional 14,590 shares in the last quarter. Finally, Bangor Savings Bank bought a new stake in Elastic in the 4th quarter valued at approximately $1,657,000. 97.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ESTC shares. UBS Group raised their price target on shares of Elastic from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Wells Fargo & Company raised their target price on shares of Elastic from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Cantor Fitzgerald assumed coverage on shares of Elastic in a research report on Friday, January 17th. They set a “neutral” rating and a $108.00 price target on the stock. Truist Financial raised their price objective on Elastic from $135.00 to $145.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Finally, Guggenheim upped their target price on Elastic from $130.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $131.39.

Elastic Stock Performance

Shares of ESTC stock opened at $94.96 on Friday. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 172.65 and a beta of 1.20. The company has a 50-day simple moving average of $105.43 and a 200 day simple moving average of $95.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99.

Elastic (NYSE:ESTC) last issued its quarterly earnings data 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 negative return on equity of 13.20% and a net margin of 4.39%. The firm had revenue of $382.08 million for the quarter, compared to the consensus estimate of $368.85 million. On average, sell-side analysts predict that Elastic will post -0.77 earnings per share for the current year.

Insider Activity at Elastic

In other Elastic news, CTO Shay Banon sold 140,129 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the transaction, the chief technology officer now owns 2,254,978 shares in the company, valued at $240,561,053.04. This represents a 5.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 directly owns 376,591 shares of the company’s stock, valued at $34,183,165.07. This represents a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 198,304 shares of company stock worth $20,847,452 in the last ninety days. 15.90% of the stock is owned by company insiders.

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.