10,131 Shares in Elastic (NYSE:ESTC) Purchased by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. acquired a new stake in Elastic (NYSE:ESTC) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 10,131 shares of the company’s stock, valued at approximately $1,004,000.

A number of other hedge funds also recently made changes to their positions in the business. Slow Capital Inc. bought a new stake in Elastic in the 4th quarter valued at $5,039,000. Wealth Effects LLC increased its holdings in shares of Elastic by 25.4% in the fourth quarter. Wealth Effects LLC now owns 28,800 shares of the company’s stock valued at $2,854,000 after purchasing an additional 5,830 shares during the last quarter. Blueshift Asset Management LLC bought a new position in shares of Elastic in the third quarter valued at about $585,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Elastic by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock worth $41,901,000 after buying an additional 14,590 shares during the last quarter. Finally, Bangor Savings Bank bought a new stake in shares of Elastic during the 4th quarter worth about $1,657,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Elastic Trading Up 1.8 %

ESTC opened at $95.47 on Thursday. The company’s 50 day moving average is $105.40 and its 200-day moving average is $94.93. The company has a market cap of $9.97 billion, a P/E ratio of 173.58 and a beta of 1.20. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96. 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 (NYSE:ESTC) last posted its earnings results 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 company had revenue of $382.08 million for the quarter, compared to the consensus estimate of $368.85 million. Equities research analysts predict that Elastic will post -0.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on ESTC shares. Morgan Stanley increased their price target on shares of Elastic from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Wedbush cut Elastic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. The Goldman Sachs Group upped their price objective on Elastic from $99.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Robert W. Baird lifted their target price on Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Finally, Canaccord Genuity Group upped their price target on shares of Elastic from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Elastic has an average rating of “Moderate Buy” and an average price target of $131.52.

Insider Buying and Selling at Elastic

In other news, CTO Shay Banon sold 25,668 shares of the firm’s stock in a transaction on Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the completion of the transaction, the chief technology officer now owns 2,408,541 shares of the company’s stock, valued at approximately $271,033,118.73. This trade represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the completion of the sale, the chief executive officer now directly owns 376,591 shares in the company, valued at approximately $34,183,165.07. This represents a 4.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 193,304 shares of company stock worth $20,334,252. 15.90% of the stock is currently owned by insiders.

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.