Sciencast Management LP grew its stake in Elastic (NYSE:ESTC) by 152.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,025 shares of the company’s stock after buying an additional 3,635 shares during the period. Sciencast Management LP’s holdings in Elastic were worth $747,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of ESTC. Wetherby Asset Management Inc. boosted its position in Elastic by 2.0% during the fourth quarter. Wetherby Asset Management Inc. now owns 4,530 shares of the company’s stock valued at $662,000 after acquiring an additional 89 shares during the last quarter. We Are One Seven LLC grew its stake in Elastic by 2.8% during the first quarter. We Are One Seven LLC now owns 4,726 shares of the company’s stock worth $338,000 after purchasing an additional 127 shares during the period. Xponance Inc. increased its holdings in Elastic by 2.0% in the first quarter. Xponance Inc. now owns 6,949 shares of the company’s stock worth $773,000 after purchasing an additional 137 shares in the last quarter. Icon Wealth Partners LLC lifted its stake in Elastic by 7.4% in the first quarter. Icon Wealth Partners LLC now owns 2,278 shares of the company’s stock valued at $253,000 after buying an additional 156 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Elastic by 4.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 4,149 shares of the company’s stock worth $606,000 after buying an additional 158 shares in the last quarter. Institutional investors own 76.70% of the company’s stock.
In other news, CFO Janesh Moorjani sold 14,733 shares of the company’s stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $114.89, for a total transaction of $1,692,674.37. Following the transaction, the chief financial officer now owns 47,676 shares of the company’s stock, valued at approximately $5,477,495.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan Chadwick sold 6,250 shares of the stock in a transaction on Monday, April 26th. The stock was sold at an average price of $127.83, for a total value of $798,937.50. Following the transaction, the director now owns 10,029 shares of the company’s stock, valued at approximately $1,282,007.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,880 shares of company stock valued at $4,762,219. 25.20% of the stock is currently owned by company insiders.
Elastic (NYSE:ESTC) last posted its quarterly earnings results on Tuesday, June 1st. The company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.08. The company had revenue of $177.60 million during the quarter, compared to analyst estimates of $158.87 million. Elastic had a negative net margin of 21.27% and a negative return on equity of 23.24%. The firm’s revenue for the quarter was up 43.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.12) earnings per share. On average, sell-side analysts predict that Elastic will post -1.67 earnings per share for the current fiscal year.
A number of equities research analysts have commented on ESTC shares. Bank of America began coverage on shares of Elastic in a report on Thursday, May 27th. They issued a “buy” rating and a $145.00 price target for the company. Zacks Investment Research lowered Elastic from a “hold” rating to a “sell” rating in a research report on Tuesday. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price objective on Elastic from $161.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, June 3rd. Monness Crespi & Hardt upped their target price on Elastic from $200.00 to $212.00 and gave the stock a “buy” rating in a research report on Thursday, June 3rd. Finally, Citigroup lifted their price target on shares of Elastic from $190.00 to $200.00 in a research report on Friday, February 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $169.26.
Elastic N.V., a search company, delivers technology that enables users to search through structured and unstructured data for a range of consumer and enterprise applications. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as perform search, analysis, and visualization.
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