Planned Solutions Inc. Buys New Stake in Elastic (NYSE:ESTC)

Planned Solutions Inc. purchased a new position in Elastic (NYSE:ESTC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 54,740 shares of the company’s stock, valued at approximately $6,169,000. Elastic makes up about 2.9% of Planned Solutions Inc.’s portfolio, making the stock its 10th largest holding. Planned Solutions Inc. owned about 0.05% of Elastic as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the business. Quarry LP lifted its position in shares of Elastic by 79.6% during the 1st quarter. Quarry LP now owns 591 shares of the company’s stock worth $34,000 after purchasing an additional 262 shares during the last quarter. Covestor Ltd lifted its position in Elastic by 168.3% in the third quarter. Covestor Ltd now owns 448 shares of the company’s stock valued at $36,000 after acquiring an additional 281 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Elastic by 50.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 707 shares of the company’s stock valued at $36,000 after acquiring an additional 238 shares during the last quarter. Activest Wealth Management purchased a new stake in Elastic in the third quarter valued at $50,000. Finally, Amundi lifted its position in Elastic by 2,063.8% in the fourth quarter. Amundi now owns 1,017 shares of the company’s stock valued at $53,000 after acquiring an additional 970 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Trading Down 0.3 %

Shares of NYSE:ESTC opened at $100.12 on Thursday. The company has a market cap of $10.09 billion, a PE ratio of 217.65 and a beta of 0.97. The company’s 50-day moving average price is $117.15 and its 200 day moving average price is $99.70. Elastic has a fifty-two week low of $52.30 and a fifty-two week high of $136.06. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.80.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.01. The firm had revenue of $327.96 million for the quarter, compared to the consensus estimate of $320.48 million. Elastic had a net margin of 4.63% and a negative return on equity of 23.94%. Sell-side analysts anticipate that Elastic will post -1.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ESTC has been the subject of a number of research reports. Rosenblatt Securities upped their target price on shares of Elastic from $105.00 to $136.00 and gave the company a “buy” rating in a report on Friday, March 1st. The Goldman Sachs Group increased their price target on shares of Elastic from $93.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Barclays cut their price target on shares of Elastic from $130.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. Wells Fargo & Company raised shares of Elastic from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $90.00 to $108.00 in a research report on Friday, December 1st. Finally, Truist Financial increased their price objective on shares of Elastic from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $111.26.

Insiders Place Their Bets

In other news, CTO Shay Banon sold 1,322 shares of Elastic stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $106.23, for a total value of $140,436.06. Following the transaction, the chief technology officer now owns 4,518,714 shares of the company’s stock, valued at approximately $480,022,988.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CTO Shay Banon sold 1,322 shares of Elastic stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $106.23, for a total value of $140,436.06. Following the transaction, the chief technology officer now owns 4,518,714 shares of the company’s stock, valued at approximately $480,022,988.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Mark Eugene Dodds sold 2,042 shares of Elastic stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $103.28, for a total transaction of $210,897.76. Following the completion of the transaction, the executive now directly owns 85,955 shares in the company, valued at approximately $8,877,432.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,248 shares of company stock worth $15,021,473. 18.10% of the stock is owned by corporate insiders.

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.