Saturna Capital Corp Takes Position in Elastic (NYSE:ESTC)

Saturna Capital Corp acquired a new stake in Elastic (NYSE:ESTC) in the 4th quarter, Holdings Channel.com reports. The fund acquired 2,532 shares of the company’s stock, valued at approximately $251,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ESTC. Geneos Wealth Management Inc. bought a new stake in Elastic during the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Elastic during the fourth quarter worth $25,000. Venturi Wealth Management LLC grew its stake in shares of Elastic by 793.3% in the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after purchasing an additional 238 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after purchasing an additional 158 shares during the last quarter. Finally, Global Retirement Partners LLC increased its holdings in Elastic by 1,065.2% in the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock valued at $53,000 after purchasing an additional 490 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ESTC. Robert W. Baird upped their price target on Elastic from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Scotiabank reiterated an “outperform” rating on shares of Elastic in a report on Friday, February 28th. The Goldman Sachs Group increased their target price on shares of Elastic from $99.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Bank of America upped their price objective on shares of Elastic from $94.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, UBS Group increased their price objective on shares of Elastic from $140.00 to $148.00 and gave the stock a “buy” 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 assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.52.

Elastic Stock Performance

ESTC opened at $97.27 on Wednesday. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96. The company has a market cap of $10.16 billion, a price-to-earnings ratio of 176.85 and a beta of 1.20. The company’s fifty day moving average price is $106.00 and its two-hundred day moving average price is $95.13. 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 (NYSE:ESTC) last posted its 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 negative return on equity of 13.20% and a net margin of 4.39%. The business had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. On average, analysts expect that Elastic will post -0.77 EPS for the current fiscal year.

Insider Transactions at Elastic

In other Elastic news, CTO Shay Banon sold 25,668 shares of the company’s stock in a transaction dated Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total value 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 represents a 1.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the stock in a transaction dated Wednesday, December 18th. The shares were 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 owns 395,326 shares of the company’s stock, valued at approximately $42,742,647.12. This trade represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 172,814 shares of company stock valued at $18,596,060 over the last ninety days. 15.90% of the stock is currently owned by 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.