Baird Financial Group Inc. Acquires Shares of 43,927 Elastic (NYSE:ESTC)

Baird Financial Group Inc. bought a new position in Elastic (NYSE:ESTC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 43,927 shares of the company’s stock, valued at approximately $4,352,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. acquired a new position in Elastic during the fourth quarter worth $25,000. SBI Securities Co. Ltd. bought a new position in Elastic during the 4th quarter valued at about $25,000. Venturi Wealth Management LLC boosted 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 buying an additional 238 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after buying an additional 158 shares during the last quarter. Finally, Global Retirement Partners LLC increased its holdings 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 in the last quarter. Institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Scotiabank decreased their price target on Elastic from $140.00 to $137.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 27th. Piper Sandler raised their target price on Elastic from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Guggenheim increased their price objective on shares of Elastic from $130.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Truist Financial dropped their target price on shares of Elastic from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price target on shares of Elastic in a report on Tuesday, February 25th. Seven 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $127.48.

Elastic Stock Down 0.8 %

Elastic stock opened at $85.55 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96. The company has a fifty day simple moving average of $87.13 and a 200 day simple moving average of $96.66. The company has a market cap of $8.93 billion, a P/E ratio of 155.55 and a beta of 1.20.

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). The company had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. Research analysts anticipate that Elastic will post -0.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Elastic news, 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 transaction 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. The trade was a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $14,948,961.72. Following the completion of the transaction, the chief technology officer now owns 2,254,978 shares in the company, valued at approximately $240,561,053.04. This represents a 5.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,304 shares of company stock valued at $20,847,452. 15.90% of the stock is currently owned by corporate 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.