Oak Thistle LLC Makes New Investment in Elastic (NYSE:ESTC)

Oak Thistle LLC purchased a new position in shares of Elastic (NYSE:ESTCFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,052 shares of the company’s stock, valued at approximately $795,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Elastic by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 8,573,534 shares of the company’s stock worth $696,514,000 after purchasing an additional 380,694 shares in the last quarter. UBS Group AG raised its holdings in shares of Elastic by 28.0% in the 3rd quarter. UBS Group AG now owns 56,805 shares of the company’s stock worth $4,615,000 after purchasing an additional 12,430 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Elastic by 3.8% in the 3rd quarter. Northern Trust Corp now owns 372,712 shares of the company’s stock worth $30,279,000 after purchasing an additional 13,587 shares in the last quarter. M&T Bank Corp bought a new stake in shares of Elastic in the 3rd quarter worth approximately $230,000. Finally, Rhumbline Advisers raised its holdings in shares of Elastic by 4.5% in the 3rd quarter. Rhumbline Advisers now owns 101,866 shares of the company’s stock worth $8,276,000 after purchasing an additional 4,412 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ESTC. Rosenblatt Securities boosted their target price on shares of Elastic from $105.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Oppenheimer boosted their price target on shares of Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, March 1st. 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. 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 report on Friday, March 1st. Finally, Royal Bank of Canada boosted their price target on shares of Elastic from $134.00 to $147.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Elastic presently has a consensus rating of “Moderate Buy” and an average target price of $111.26.

Read Our Latest Analysis on Elastic

Insider Buying and Selling

In related news, Director Steven Schuurman sold 815,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the completion of the sale, the director now directly owns 8,382,000 shares of the company’s stock, valued at approximately $817,580,280. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Steven Schuurman sold 815,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the completion of the sale, the director now directly owns 8,382,000 shares of the company’s stock, valued at approximately $817,580,280. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ashutosh Kulkarni sold 15,778 shares of the company’s stock in a transaction on Monday, March 11th. The stock was 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 of the company’s stock, valued at $37,618,190.80. The disclosure for this sale can be found here. In the last three months, insiders sold 962,440 shares of company stock valued at $94,535,764. Company insiders own 18.10% of the company’s stock.

Elastic Stock Performance

ESTC stock opened at $97.95 on Wednesday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 212.93 and a beta of 0.94. Elastic has a 12 month low of $52.30 and a 12 month high of $136.06. The firm has a 50 day moving average of $115.45 and a two-hundred day moving average of $100.43.

Elastic (NYSE:ESTCGet Free Report) last posted its earnings results on Thursday, February 29th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.01. The company had revenue of $327.96 million during 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%. As a group, equities analysts anticipate that Elastic will post -1.13 EPS for the current fiscal 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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Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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