Avantax Advisory Services Inc. Takes $1 Million Position in Elastic (NYSE:ESTC)

Avantax Advisory Services Inc. bought a new position in Elastic (NYSE:ESTC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,131 shares of the company’s stock, valued at approximately $1,004,000.

Other large investors have also bought and sold shares of the company. FMR LLC boosted its stake in Elastic by 25.6% in the third quarter. FMR LLC now owns 5,475,297 shares of the company’s stock worth $420,284,000 after purchasing an additional 1,115,750 shares in the last quarter. Atreides Management LP raised its holdings in shares of Elastic by 57.2% in the third quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock valued at $129,555,000 after buying an additional 614,309 shares during the last quarter. State Street Corp lifted its position in Elastic by 2.3% during the 3rd quarter. State Street Corp now owns 1,437,243 shares of the company’s stock worth $110,323,000 after buying an additional 31,663 shares in the last quarter. Geode Capital Management LLC grew its holdings in Elastic by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,394,336 shares of the company’s stock worth $107,058,000 after acquiring an additional 50,355 shares during the last quarter. Finally, Amundi increased its position in Elastic by 27.4% in the 4th quarter. Amundi now owns 832,470 shares of the company’s stock valued at $81,615,000 after acquiring an additional 179,054 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Elastic Stock Up 1.8 %

NYSE:ESTC opened at $95.47 on Thursday. The company has a market cap of $9.97 billion, a PE ratio of 173.58 and a beta of 1.20. The stock has a 50-day simple moving average of $105.40 and a 200 day simple moving average of $94.93. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96.

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

Insider Transactions at Elastic

In other Elastic news, CTO Shay Banon sold 2,683 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $90.78, for a total transaction of $243,562.74. Following the transaction, the chief technology officer now owns 4,535,456 shares of the company’s stock, valued at $411,728,695.68. The trade was a 0.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Carolyn Herzog sold 3,334 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.78, for a total value of $302,660.52. Following the completion of the sale, the insider now directly owns 84,152 shares of the company’s stock, valued at approximately $7,639,318.56. The trade was a 3.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 193,304 shares of company stock worth $20,334,252 in the last three months. Insiders own 15.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ESTC. JPMorgan Chase & Co. increased their price target on shares of Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Guggenheim increased their price objective on Elastic from $130.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Piper Sandler boosted their target price on Elastic from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Barclays raised their price target on Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, Citigroup boosted their price objective on Elastic from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Seven 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’s stock. According to data from MarketBeat, Elastic has an average rating of “Moderate Buy” and an average target price 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.