Northwest & Ethical Investments L.P. Invests $119,000 in Elastic (NYSE:ESTC)

Northwest & Ethical Investments L.P. acquired a new stake in shares of Elastic (NYSE:ESTC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,200 shares of the company’s stock, valued at approximately $119,000.

A number of other institutional investors have also recently bought and sold shares of ESTC. Slow Capital Inc. bought a new stake in Elastic in the fourth quarter worth approximately $5,039,000. Wealth Effects LLC boosted its holdings in Elastic by 25.4% in the fourth quarter. Wealth Effects LLC now owns 28,800 shares of the company’s stock worth $2,854,000 after purchasing an additional 5,830 shares in the last quarter. Blueshift Asset Management LLC bought a new stake in Elastic in the third quarter worth $585,000. Charles Schwab Investment Management Inc. increased its position in Elastic by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock worth $41,901,000 after buying an additional 14,590 shares during the last quarter. Finally, Bangor Savings Bank bought a new position in Elastic during the fourth quarter valued at about $1,657,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insider Activity

In other news, CRO Mark Eugene Dodds sold 2,755 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.77, for a total transaction of $250,071.35. Following the completion of the sale, the executive now owns 96,484 shares of the company’s stock, valued at approximately $8,757,852.68. This trade represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Shay Banon sold 140,129 shares of Elastic stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the completion of the transaction, 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 ninety days, insiders have sold 193,304 shares of company stock worth $20,334,252. Company insiders own 15.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ESTC. 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. Scotiabank reaffirmed an “outperform” rating on shares of Elastic in a research report on Friday, February 28th. Wells Fargo & Company lifted their price target on shares of Elastic from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Canaccord Genuity Group boosted their price objective on shares of Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Piper Sandler raised their target price on shares of Elastic from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Seven equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.52.

Elastic Stock Up 2.3 %

ESTC opened at $96.96 on Friday. The company has a market capitalization of $10.12 billion, a P/E ratio of 176.29 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. The firm’s fifty day moving average price is $105.33 and its two-hundred day moving average price is $95.22. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96.

Elastic (NYSE:ESTC) last issued its earnings results 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). 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 for the quarter, compared to analyst estimates of $368.85 million. On average, analysts anticipate that Elastic will post -0.77 EPS for the current year.

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.