ExodusPoint Capital Management LP Raises Position in Elastic (NYSE:ESTC)

ExodusPoint Capital Management LP lifted its stake in shares of Elastic (NYSE:ESTC) by 125.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 110,387 shares of the company’s stock after acquiring an additional 61,389 shares during the quarter. ExodusPoint Capital Management LP owned 0.11% of Elastic worth $10,937,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. acquired a new position in Elastic during the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. purchased a new position in Elastic in the fourth quarter valued at $25,000. Venturi Wealth Management LLC raised its stake in Elastic by 793.3% in the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after buying an additional 238 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Elastic by 126.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after buying an additional 158 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of Elastic by 1,065.2% during the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock worth $53,000 after acquiring an additional 490 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Elastic

In related news, CTO Shay Banon sold 25,668 shares of Elastic stock in a transaction on Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the completion of the transaction, the chief technology officer now directly owns 2,408,541 shares of the company’s stock, valued at approximately $271,033,118.73. The trade was a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total value of $513,200.00. Following the sale, the chief executive officer now owns 371,591 shares in the company, valued at approximately $38,140,100.24. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 198,304 shares of company stock valued at $20,847,452. 15.90% of the stock is owned by company insiders.

Elastic Stock Down 7.3 %

Shares of NYSE:ESTC opened at $76.20 on Friday. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm’s 50-day simple moving average is $103.65 and its 200-day simple moving average is $96.38. The company has a market cap of $7.96 billion, a price-to-earnings ratio of 138.55 and a beta of 1.19.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ESTC shares. Cantor Fitzgerald began coverage on Elastic in a research report on Friday, January 17th. They set a “neutral” rating and a $108.00 target price on the stock. Jefferies Financial Group cut their price objective on shares of Elastic from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Wedbush cut shares of Elastic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Rosenblatt Securities reiterated a “buy” rating and set a $130.00 price target on shares of Elastic in a research note on Tuesday, February 25th. Finally, Guggenheim upped their price objective on shares of Elastic from $130.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Seven 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. According to data from MarketBeat.com, Elastic has an average rating of “Moderate Buy” and a consensus target price of $130.74.

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.