Elastic (NYSE:ESTC) Shares Acquired by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership increased its stake in Elastic (NYSE:ESTC) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 485,436 shares of the company’s stock after acquiring an additional 21,160 shares during the period. Artisan Partners Limited Partnership owned approximately 0.47% of Elastic worth $48,097,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. M&T Bank Corp grew its holdings in Elastic by 3.1% during the 3rd quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock worth $357,000 after acquiring an additional 139 shares in the last quarter. Sigma Planning Corp grew its stake in shares of Elastic by 3.7% during the fourth quarter. Sigma Planning Corp now owns 3,929 shares of the company’s stock worth $389,000 after purchasing an additional 139 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Elastic by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,053 shares of the company’s stock valued at $302,000 after buying an additional 151 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after buying an additional 158 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Elastic by 0.7% during the 4th quarter. Van ECK Associates Corp now owns 32,954 shares of the company’s stock worth $3,265,000 after buying an additional 220 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Stock Performance

NYSE:ESTC opened at $91.55 on Friday. The firm’s fifty day simple moving average is $105.25 and its 200-day simple moving average is $95.97. 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 stock has a market cap of $9.56 billion, a PE ratio of 166.46 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 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). The firm had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. Analysts expect that Elastic will post -0.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wells Fargo & Company increased their price objective on Elastic from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Truist Financial raised their price objective on shares of Elastic from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Scotiabank reduced their price objective on shares of Elastic from $140.00 to $137.00 and set a “sector outperform” rating for the company in a research report on Thursday. Guggenheim increased their target price on shares of Elastic from $130.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Wedbush cut shares of Elastic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.39.

Insider Activity at Elastic

In other Elastic news, CTO Shay Banon sold 2,683 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.78, for a total transaction of $243,562.74. Following the completion of the transaction, the chief technology officer now owns 4,535,456 shares of the company’s stock, valued at approximately $411,728,695.68. This trade represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total value of $513,200.00. Following the completion of the transaction, the chief executive officer now directly owns 371,591 shares of the company’s stock, valued at approximately $38,140,100.24. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 198,304 shares of company stock valued at $20,847,452. Insiders own 15.90% of the company’s stock.

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.