Elastic (NYSE:ESTC) Shares Acquired by AXQ Capital LP

AXQ Capital LP raised its stake in Elastic (NYSE:ESTC) by 194.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,947 shares of the company’s stock after buying an additional 5,913 shares during the period. AXQ Capital LP’s holdings in Elastic were worth $886,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC boosted its position in shares of Elastic by 25.6% in the 3rd quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after purchasing an additional 1,115,750 shares during the period. Atreides Management LP boosted its position in shares of Elastic by 57.2% in the third quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock worth $129,555,000 after buying an additional 614,309 shares during the period. JAT Capital Mgmt LP grew its holdings in shares of Elastic by 601.4% during the third quarter. JAT Capital Mgmt LP now owns 465,549 shares of the company’s stock valued at $35,736,000 after buying an additional 399,175 shares in the last quarter. Thematics Asset Management raised its position in Elastic by 463.3% during the third quarter. Thematics Asset Management now owns 444,012 shares of the company’s stock valued at $34,082,000 after buying an additional 365,192 shares during the period. Finally, American Century Companies Inc. lifted its stake in Elastic by 592.1% in the 4th quarter. American Century Companies Inc. now owns 366,103 shares of the company’s stock worth $36,274,000 after acquiring an additional 313,207 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insider Activity

In related news, CRO Mark Eugene Dodds sold 2,755 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.77, for a total transaction of $250,071.35. Following the completion of the transaction, the executive now owns 96,484 shares in the company, valued at approximately $8,757,852.68. This represents a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 2,683 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.78, for a total value of $243,562.74. Following the transaction, the chief technology officer now directly owns 4,535,456 shares of the company’s stock, valued at $411,728,695.68. This trade represents a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 193,304 shares of company stock worth $20,334,252 over the last quarter. 15.90% of the stock is currently owned by company insiders.

Elastic Trading Up 2.3 %

Shares of NYSE ESTC opened at $96.96 on Friday. The company’s 50 day simple moving average is $105.33 and its 200 day simple moving average is $95.07. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a market capitalization of $10.12 billion, a P/E ratio of 176.29 and a beta of 1.20. 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 data on Thursday, February 27th. The company reported ($0.01) EPS 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 company had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. On average, analysts predict that Elastic will post -0.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ESTC. Wedbush lowered shares of Elastic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group lifted their target price on shares of Elastic from $99.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Needham & Company LLC restated a “hold” rating on shares of Elastic in a report on Friday, November 22nd. Baird R W raised Elastic from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, Cantor Fitzgerald started coverage on Elastic in a report on Friday, January 17th. They issued a “neutral” rating and a $108.00 target price for the company. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.52.

Elastic 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.