ExodusPoint Capital Management LP Raises Holdings in Elastic (NYSE:ESTC)

ExodusPoint Capital Management LP boosted its stake in Elastic (NYSE:ESTC) by 125.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 110,387 shares of the company’s stock after buying an additional 61,389 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Elastic were worth $10,937,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic during the 4th quarter worth about $25,000. SBI Securities Co. Ltd. purchased a new position in shares of Elastic during the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC boosted its position in 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 acquiring an additional 238 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after acquiring an additional 158 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in Elastic by 1,065.2% in the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock valued at $53,000 after acquiring an additional 490 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Stock Down 7.3 %

ESTC stock opened at $76.20 on Friday. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm’s 50-day simple moving average is $103.65 and its 200 day simple moving average is $96.38. The stock has a market cap of $7.96 billion, a PE ratio of 138.55 and a beta of 1.19. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96.

Elastic (NYSE:ESTC) last released its quarterly 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 net margin of 4.39% and a negative return on equity of 13.20%. The business had revenue of $382.08 million for the quarter, compared to the consensus estimate of $368.85 million. As a group, sell-side analysts predict that Elastic will post -0.77 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on ESTC shares. Truist Financial dropped their price objective 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. Morgan Stanley upped their price target on shares of Elastic from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Canaccord Genuity Group lifted their price target on shares of Elastic from $130.00 to $135.00 and gave the company a “buy” rating in a report on Friday, February 28th. Jefferies Financial Group dropped their price objective on Elastic from $135.00 to $125.00 and set a “buy” rating for the company in a report on Monday, March 31st. Finally, 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. Seven investment 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 stock. According to MarketBeat, Elastic presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.74.

Insider Transactions at Elastic

In other Elastic news, insider Carolyn Herzog sold 3,334 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $90.78, for a total value of $302,660.52. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total value of $513,200.00. Following the transaction, the chief executive officer now directly owns 371,591 shares of the company’s stock, valued at approximately $38,140,100.24. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders 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.