Lbp Am Sa Raises Stock Holdings in Elastic (NYSE:ESTC)

Lbp Am Sa grew its stake in Elastic (NYSE:ESTC) by 181.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 153,084 shares of the company’s stock after buying an additional 98,679 shares during the period. Lbp Am Sa’s holdings in Elastic were worth $15,168,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ESTC. Geneos Wealth Management Inc. purchased a new stake in Elastic in the fourth quarter worth about $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Elastic during the fourth quarter worth about $25,000. Venturi Wealth Management LLC grew its position in shares of Elastic by 793.3% during the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after purchasing an additional 238 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of 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 purchasing an additional 158 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position 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 purchasing an additional 490 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Insiders Place Their Bets

In other news, CRO Mark Eugene Dodds sold 2,755 shares of Elastic stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $250,071.35. Following the transaction, the executive now directly owns 96,484 shares in the company, valued at approximately $8,757,852.68. This trade represents a 2.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Carolyn Herzog sold 3,334 shares of Elastic stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.78, for a total value of $302,660.52. Following the completion of the transaction, the insider now owns 84,152 shares in the company, valued at $7,639,318.56. This represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 200,321 shares of company stock worth $21,092,930 in the last ninety days. 15.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

ESTC has been the subject of several research analyst reports. Jefferies Financial Group increased their target price on Elastic from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Truist Financial increased their target price on Elastic from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. UBS Group increased their target price on Elastic from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. increased their price target on Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, DA Davidson increased their price target on Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $131.52.

Elastic Trading Down 7.2 %

ESTC opened at $91.49 on Friday. The stock’s fifty day moving average is $105.96 and its two-hundred day moving average is $95.10. The company has a market capitalization of $9.55 billion, a P/E ratio of 166.35 and a beta of 1.20. 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 quarterly earnings data on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.47 by ($0.48). The firm had revenue of $382.08 million for the quarter, compared to analysts’ expectations of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. Analysts forecast that Elastic will post -0.77 earnings per share for the current year.

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.