Elastic (NYSE:ESTC) is Cota Capital Management LLC’s 4th Largest Position

Cota Capital Management LLC boosted its holdings in shares of Elastic (NYSE:ESTC) by 14.9% during the third quarter, HoldingsChannel.com reports. The firm owned 52,143 shares of the company’s stock after purchasing an additional 6,752 shares during the period. Elastic makes up approximately 16.0% of Cota Capital Management LLC’s holdings, making the stock its 4th largest holding. Cota Capital Management LLC’s holdings in Elastic were worth $4,002,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Asset Dedication LLC grew its position in shares of Elastic by 1,333.3% in the second quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after purchasing an additional 280 shares during the period. AlphaCentric Advisors LLC purchased a new position in Elastic in the 2nd quarter valued at about $40,000. Quarry LP acquired a new stake in Elastic in the 2nd quarter worth about $40,000. Lynx Investment Advisory purchased a new stake in Elastic during the 2nd quarter worth approximately $43,000. Finally, Signaturefd LLC raised its holdings in shares of Elastic by 44.1% during the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after acquiring an additional 119 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ESTC. DA Davidson boosted their price target on Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Truist Financial upped their target price on shares of Elastic from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Guggenheim raised their price target on shares of Elastic from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. UBS Group dropped their price objective on shares of Elastic from $135.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Finally, Jefferies Financial Group raised their target price on shares of Elastic from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Elastic presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.33.

Elastic Stock Performance

Shares of Elastic stock opened at $110.13 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. The stock has a market capitalization of $11.32 billion, a price-to-earnings ratio of 200.24 and a beta of 0.94. The business has a 50-day moving average of $83.22 and a 200 day moving average of $96.99. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.10. Elastic had a net margin of 4.39% and a negative return on equity of 13.54%. The firm had revenue of $347.42 million for the quarter, compared to the consensus estimate of $344.67 million. During the same period in the prior year, the firm earned ($0.35) EPS. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. As a group, sell-side analysts forecast that Elastic will post -0.92 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Shay Banon sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $110.92, for a total value of $16,638,000.00. Following the sale, the chief technology officer now owns 2,604,978 shares of the company’s stock, valued at $288,944,159.76. This trade represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul R. Auvil III purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $74.25 per share, with a total value of $1,485,000.00. Following the purchase, the director now directly owns 22,627 shares of the company’s stock, valued at $1,680,054.75. The trade was a 761.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 198,551 shares of company stock worth $20,506,656 over the last 90 days. Corporate insiders own 15.90% of the company’s stock.

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.