18,477 Shares in Elastic (NYSE:ESTC) Purchased by Centiva Capital LP

by · The Cerbat Gem

Centiva Capital LP purchased a new stake in shares of Elastic (NYSE:ESTC – Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 18,477 shares of the company’s stock, valued at approximately $1,831,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Slow Capital Inc. purchased a new stake in Elastic in the 4th quarter valued at about $5,039,000. Wealth Effects LLC increased its position in shares of Elastic by 25.4% during the fourth quarter. Wealth Effects LLC now owns 28,800 shares of the company’s stock valued at $2,854,000 after acquiring an additional 5,830 shares during the last quarter. Smith Group Asset Management LLC bought a new stake in Elastic during the fourth quarter worth $3,408,000. Nisa Investment Advisors LLC boosted its position in Elastic by 3,442.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 14,525 shares of the company’s stock worth $1,439,000 after purchasing an additional 14,115 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in Elastic by 187.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 9,073 shares of the company’s stock valued at $899,000 after purchasing an additional 5,919 shares during the period. 97.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ESTC shares. Canaccord Genuity Group boosted their price target on shares of Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Cantor Fitzgerald began coverage on shares of Elastic in a research report on Friday, January 17th. They set a “neutral” rating and a $108.00 target price for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 price target on shares of Elastic in a report on Tuesday, February 25th. Truist Financial decreased their target price on Elastic from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Finally, 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. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.48.

Check Out Our Latest Stock Report on Elastic

Insider Buying and Selling

In other Elastic news, CEO Ashutosh Kulkarni sold 18,735 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 376,591 shares in the company, valued at approximately $34,183,165.07. This trade represents a 4.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 140,129 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the completion of the transaction, the chief technology officer now owns 2,254,978 shares in the company, valued at approximately $240,561,053.04. This represents a 5.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 198,304 shares of company stock valued at $20,847,452 over the last quarter. Corporate insiders own 15.90% of the company’s stock.

Elastic Price Performance

ESTC stock opened at $84.49 on Thursday. The firm has a 50-day moving average of $87.99 and a 200 day moving average of $96.58. 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 market cap of $8.82 billion, a P/E ratio of 153.62 and a beta of 1.20. Elastic has a 1 year low of $69.00 and a 1 year high of $123.96.

Elastic (NYSE:ESTC – Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.48). The firm had revenue of $382.08 million for the quarter, compared to the consensus estimate of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. On average, sell-side analysts forecast that Elastic will post -0.77 EPS for the current year.

About Elastic

(Free Report)

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.

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