Inceptionr LLC Takes Position in Elastic (NYSE:ESTC)

Inceptionr LLC acquired a new stake in Elastic (NYSE:ESTC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 9,707 shares of the company’s stock, valued at approximately $962,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ESTC. Private Advisor Group LLC purchased a new stake in Elastic during the third quarter worth approximately $211,000. Van ECK Associates Corp purchased a new stake in Elastic during the third quarter worth approximately $2,540,000. QRG Capital Management Inc. lifted its stake in Elastic by 7.0% during the third quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock worth $235,000 after purchasing an additional 201 shares during the last quarter. Fiera Capital Corp purchased a new stake in Elastic during the third quarter worth approximately $15,623,000. Finally, Assetmark Inc. lifted its stake in Elastic by 28,132.1% during the third quarter. Assetmark Inc. now owns 7,905 shares of the company’s stock worth $607,000 after purchasing an additional 7,877 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Trading Down 9.3 %

Shares of ESTC stock opened at $99.41 on Friday. The business’s fifty day moving average price is $106.40 and its 200 day moving average price is $95.53. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96. The firm has a market capitalization of $10.30 billion, a PE ratio of 180.75 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share 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 business had revenue of $382.08 million for the quarter, compared to analyst estimates of $368.85 million. As a group, sell-side analysts forecast that Elastic will post -0.77 EPS for the current fiscal year.

Analyst Ratings Changes

ESTC has been the subject of several recent analyst reports. Bank of America boosted their target price on Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Scotiabank boosted their target price on Elastic from $127.00 to $140.00 and gave the stock a “sector outperform” rating in a research note on Friday, February 28th. Canaccord Genuity Group boosted their target price on Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. The Goldman Sachs Group lifted their price target on Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Cantor Fitzgerald began coverage on Elastic in a research report on Friday, January 17th. They set a “neutral” rating and a $108.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.52.

Insider Buying and Selling

In other Elastic news, 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 sale, the chief technology officer now directly owns 2,254,978 shares in the company, valued at approximately $240,561,053.04. The trade was a 5.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value of $758,678.04. Following the sale, the chief executive officer now owns 395,326 shares in the company, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 172,814 shares of company stock valued at $18,596,060 over the last quarter. Company insiders own 15.90% of the company’s stock.

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.