159,953 Shares in Elastic (NYSE:ESTC) Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC bought a new stake in shares of Elastic (NYSE:ESTC) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 159,953 shares of the company’s stock, valued at approximately $18,027,000. Los Angeles Capital Management LLC owned 0.16% of Elastic as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC grew its position in Elastic by 4.7% in the third quarter. FMR LLC now owns 9,051,434 shares of the company’s stock worth $735,338,000 after buying an additional 409,717 shares during the last quarter. Vanguard Group Inc. grew its position in Elastic by 4.6% during the third quarter. Vanguard Group Inc. now owns 8,573,534 shares of the company’s stock valued at $696,514,000 after purchasing an additional 380,694 shares in the last quarter. Baillie Gifford & Co. increased its stake in shares of Elastic by 2.8% in the fourth quarter. Baillie Gifford & Co. now owns 7,764,370 shares of the company’s stock worth $875,044,000 after acquiring an additional 211,896 shares during the last quarter. Sylebra Capital LLC purchased a new stake in shares of Elastic during the third quarter worth $318,822,000. Finally, JPMorgan Chase & Co. boosted its position in Elastic by 5.5% during the third quarter. JPMorgan Chase & Co. now owns 2,969,585 shares of the company’s stock valued at $241,249,000 after purchasing an additional 155,612 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Elastic Price Performance

Shares of Elastic stock traded down $0.44 during trading on Friday, hitting $105.66. 690,290 shares of the company’s stock traded hands, compared to its average volume of 1,102,194. The company has a market cap of $10.65 billion, a PE ratio of 229.70 and a beta of 0.92. The firm’s fifty day moving average price is $104.26 and its 200 day moving average price is $103.45. Elastic has a twelve month low of $54.54 and a twelve month high of $136.06. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.87 and a quick ratio of 1.87.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ESTC shares. The Goldman Sachs Group raised their price target on Elastic from $93.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. TheStreet raised shares of Elastic from a “d+” rating to a “c-” rating in a research report on Wednesday, February 7th. Scotiabank cut their price target on shares of Elastic from $185.00 to $154.00 and set a “sector outperform” rating on the stock in a report on Friday, March 1st. Rosenblatt Securities lifted their price objective on shares of Elastic from $105.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Oppenheimer increased their target price on shares of Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Elastic currently has an average rating of “Moderate Buy” and an average target price of $111.26.

Insiders Place Their Bets

In related news, insider Carolyn Herzog sold 2,591 shares of Elastic stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $103.28, for a total transaction of $267,598.48. Following the completion of the transaction, the insider now directly owns 87,799 shares of the company’s stock, valued at approximately $9,067,880.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Carolyn Herzog sold 2,591 shares of Elastic stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $103.28, for a total value of $267,598.48. Following the completion of the transaction, the insider now directly owns 87,799 shares of the company’s stock, valued at $9,067,880.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ashutosh Kulkarni sold 15,778 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $103.28, for a total transaction of $1,629,551.84. Following the sale, the chief executive officer now directly owns 364,235 shares in the company, valued at $37,618,190.80. The disclosure for this sale can be found here. Insiders sold 962,440 shares of company stock worth $94,535,764 over the last three months. 18.10% of the stock is currently 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.