Amundi Acquires 179,054 Shares of Elastic (NYSE:ESTC)

Amundi grew its holdings in Elastic (NYSE:ESTC) by 27.4% during the 4th quarter, Holdings Channel reports. The fund owned 832,470 shares of the company’s stock after buying an additional 179,054 shares during the period. Amundi’s holdings in Elastic were worth $81,615,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. M&T Bank Corp raised its position in Elastic by 3.1% in the third quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock worth $357,000 after acquiring an additional 139 shares during the period. Sigma Planning Corp raised its position in Elastic by 3.7% in the fourth quarter. Sigma Planning Corp now owns 3,929 shares of the company’s stock worth $389,000 after acquiring an additional 139 shares during the period. CIBC Asset Management Inc raised its position in Elastic by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,053 shares of the company’s stock worth $302,000 after acquiring an additional 151 shares during the period. Smartleaf Asset Management LLC raised its position in Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after acquiring an additional 158 shares during the period. Finally, QRG Capital Management Inc. increased its stake 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 worth $235,000 after purchasing an additional 201 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Elastic in a research note on Friday, January 17th. They issued a “neutral” rating and a $108.00 price objective for the company. Piper Sandler increased their price objective on shares of Elastic from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Bank of America increased their price objective on shares of Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Royal Bank of Canada increased their price objective on shares of Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Finally, Scotiabank reissued an “outperform” rating on shares of Elastic in a research note on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.52.

Elastic Stock Performance

Shares of NYSE:ESTC opened at $97.27 on Wednesday. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. The stock has a market capitalization of $10.16 billion, a P/E ratio of 176.85 and a beta of 1.20. The firm has a fifty day simple moving average of $106.00 and a two-hundred day simple moving average of $95.13. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The business had revenue of $382.08 million during the quarter, compared to analysts’ expectations of $368.85 million. On average, analysts expect that Elastic will post -0.77 earnings per share for the current fiscal year.

Insider Transactions at Elastic

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

Elastic Company 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.