TrueMark Investments LLC Sells 1,662 Shares of Elastic (NYSE:ESTC)

TrueMark Investments LLC reduced its position in shares of Elastic (NYSE:ESTC) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,236 shares of the company’s stock after selling 1,662 shares during the quarter. TrueMark Investments LLC’s holdings in Elastic were worth $2,005,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Elastic by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company’s stock valued at $926,607,000 after buying an additional 168,483 shares during the last quarter. Stevens Capital Management LP acquired a new stake in Elastic during the 4th quarter valued at $244,000. LPL Financial LLC boosted its position in Elastic by 28.8% during the fourth quarter. LPL Financial LLC now owns 25,832 shares of the company’s stock worth $2,559,000 after purchasing an additional 5,775 shares during the period. Fox Run Management L.L.C. increased its holdings in shares of Elastic by 68.2% in the fourth quarter. Fox Run Management L.L.C. now owns 15,688 shares of the company’s stock valued at $1,554,000 after purchasing an additional 6,362 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Elastic in the fourth quarter valued at $1,783,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on ESTC shares. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price target on shares of Elastic in a research note on Tuesday, February 25th. Cantor Fitzgerald initiated coverage on Elastic in a research note on Friday, January 17th. They set a “neutral” rating and a $108.00 target price on the stock. Piper Sandler boosted their price target on Elastic from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Morgan Stanley increased their price objective on Elastic from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, Robert W. Baird boosted their target price on shares of Elastic from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.52.

Elastic Price Performance

ESTC stock opened at $102.26 on Wednesday. The stock has a market cap of $10.68 billion, a price-to-earnings ratio of 185.93 and a beta of 1.20. 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 company has a 50 day simple moving average of $105.53 and a 200 day simple moving average of $95.81. Elastic has a 1 year low of $69.00 and a 1 year high of $123.96.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.48). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The company had revenue of $382.08 million for the quarter, compared to analyst estimates of $368.85 million. Research analysts anticipate that Elastic will post -0.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ashutosh Kulkarni sold 18,735 shares of Elastic stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the transaction, the chief executive officer now owns 376,591 shares in the company, valued at approximately $34,183,165.07. The trade was a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $250,071.35. Following the completion of the sale, the executive now owns 96,484 shares of the company’s stock, valued at $8,757,852.68. The trade was a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 193,304 shares of company stock valued at $20,334,252 in the last 90 days. Corporate 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.