Versor Investments LP Acquires Shares of 9,947 Elastic (NYSE:ESTC)

Versor Investments LP acquired a new stake in shares of Elastic (NYSE:ESTC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,947 shares of the company’s stock, valued at approximately $986,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. M&T Bank Corp raised its position in shares of Elastic by 3.1% in the 3rd quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock worth $357,000 after purchasing an additional 139 shares during the last quarter. Sigma Planning Corp raised its position in shares of Elastic by 3.7% in the 4th quarter. Sigma Planning Corp now owns 3,929 shares of the company’s stock worth $389,000 after purchasing an additional 139 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Elastic by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,053 shares of the company’s stock worth $302,000 after purchasing an additional 151 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of Elastic by 7.0% in the 3rd 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. Finally, Oppenheimer & Co. Inc. raised its position in shares of Elastic by 3.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company’s stock worth $523,000 after purchasing an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Insider Buying and Selling

In other news, CEO Ashutosh Kulkarni sold 7,017 shares of Elastic stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total transaction of $758,678.04. Following the completion of the sale, the chief executive officer now directly owns 395,326 shares in the company, valued at approximately $42,742,647.12. This trade represents a 1.74 % 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. 15.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on ESTC. Scotiabank reduced their price objective on Elastic from $135.00 to $127.00 and set a “sector outperform” rating for the company in a report on Tuesday, January 21st. Robert W. Baird upgraded Elastic from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $95.00 to $135.00 in a report on Friday, November 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price objective on shares of Elastic in a report on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a report on Friday, November 22nd. Finally, Barclays lifted their price objective on Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Elastic presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.78.

Elastic Trading Down 2.4 %

Elastic stock opened at $101.05 on Friday. 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 has a 12-month low of $69.00 and a 12-month high of $136.06. The firm has a 50 day moving average of $105.85 and a 200 day moving average of $95.51. The firm has a market capitalization of $10.47 billion, a price-to-earnings ratio of 183.73 and a beta of 1.07.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) 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%. As a group, research analysts predict 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.