Aigen Investment Management LP Makes New $204,000 Investment in Elastic (NYSE:ESTC)

Aigen Investment Management LP acquired a new stake in Elastic (NYSE:ESTC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,061 shares of the company’s stock, valued at approximately $204,000.

Several other large investors have also modified their holdings of ESTC. Van ECK Associates Corp purchased a new stake in Elastic in the 3rd quarter valued at $2,540,000. QRG Capital Management Inc. raised its holdings in shares of Elastic by 7.0% in the third quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock valued at $235,000 after buying an additional 201 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Elastic by 28,132.1% during the third quarter. Assetmark Inc. now owns 7,905 shares of the company’s stock worth $607,000 after buying an additional 7,877 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Elastic by 39.3% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 365,000 shares of the company’s stock worth $28,017,000 after buying an additional 103,000 shares during the period. Finally, River Global Investors LLP grew its holdings in shares of Elastic by 121.1% during the third quarter. River Global Investors LLP now owns 19,884 shares of the company’s stock worth $1,526,000 after buying an additional 10,891 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CTO Shay Banon sold 140,129 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total value of $14,948,961.72. Following the transaction, the chief technology officer now directly owns 2,254,978 shares of the company’s stock, valued at approximately $240,561,053.04. This represents a 5.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total value of $758,678.04. Following the completion of the transaction, the chief executive officer now owns 395,326 shares in the company, valued at $42,742,647.12. This trade represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 172,814 shares of company stock worth $18,596,060 over the last ninety days. 15.90% of the stock is currently owned by company insiders.

Elastic Price Performance

Shares of NYSE:ESTC opened at $94.94 on Monday. The stock has a market cap of $9.84 billion, a price-to-earnings ratio of 172.61 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96. The stock’s 50 day moving average price is $106.19 and its 200 day moving average price is $95.24.

Elastic (NYSE:ESTC) last posted its quarterly earnings data 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 business 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%. Equities research analysts anticipate that Elastic will post -0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ESTC shares. Oppenheimer increased their price objective on Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Scotiabank increased their price target on Elastic from $127.00 to $140.00 and gave the stock a “sector outperform” rating in a report on Friday, February 28th. Wedbush lowered shares of Elastic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Morgan Stanley upped their price objective on shares of Elastic from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, Barclays lifted their target price on shares of Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.52.

About Elastic

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.