Pamplona Capital Management LLC Takes Position in Elastic (NYSE:ESTC)

Pamplona Capital Management LLC acquired a new position in shares of Elastic (NYSE:ESTC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 210,600 shares of the company’s stock, valued at approximately $20,866,000. Elastic comprises about 3.0% of Pamplona Capital Management LLC’s portfolio, making the stock its 4th biggest holding.

Other institutional investors have also recently bought and sold shares of the company. Pictet Asset Management Holding SA increased its holdings in shares of Elastic by 15.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company’s stock worth $339,820,000 after acquiring an additional 462,974 shares in the last quarter. Norges Bank acquired a new position in shares of Elastic in the fourth quarter valued at approximately $102,485,000. WINTON GROUP Ltd bought a new stake in shares of Elastic during the fourth quarter worth $1,642,000. Artisan Partners Limited Partnership raised its holdings in shares of Elastic by 4.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 485,436 shares of the company’s stock worth $48,097,000 after acquiring an additional 21,160 shares during the period. Finally, Vanguard Group Inc. lifted its position in Elastic by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company’s stock valued at $926,607,000 after acquiring an additional 168,483 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Stock Performance

NYSE:ESTC opened at $91.55 on Friday. The business’s fifty day moving average is $105.25 and its 200 day moving average is $95.97. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of 166.46 and a beta of 1.20. 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 released its earnings results on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). The firm had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. Research analysts predict that Elastic will post -0.77 EPS for the current year.

Insider Activity

In other Elastic news, CEO Ashutosh Kulkarni sold 18,735 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 376,591 shares of the company’s stock, valued at approximately $34,183,165.07. This represents a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Shay Banon sold 25,668 shares of the stock in a transaction on Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the completion of the sale, the chief technology officer now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 198,304 shares of company stock valued at $20,847,452. Corporate insiders own 15.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on ESTC shares. Wedbush downgraded Elastic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Truist Financial boosted their target price on Elastic from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Guggenheim raised their price target on shares of Elastic from $130.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Canaccord Genuity Group boosted their price objective on shares of Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Morgan Stanley raised their target price on shares of Elastic from $130.00 to $140.00 and gave the company an “overweight” rating in a research report 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Elastic currently has an average rating of “Moderate Buy” and an average target price of $131.39.

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.