Krane Funds Advisors LLC Invests $450,000 in Elastic (NYSE:ESTC)

Krane Funds Advisors LLC purchased a new stake in Elastic (NYSE:ESTC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,542 shares of the company’s stock, valued at approximately $450,000.

A number of other institutional investors have also added to or reduced their stakes in ESTC. The Manufacturers Life Insurance Company grew its position in shares of Elastic by 12.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 16,431 shares of the company’s stock valued at $1,261,000 after purchasing an additional 1,757 shares in the last quarter. Quantinno Capital Management LP grew its holdings in shares of Elastic by 25.7% during the third quarter. Quantinno Capital Management LP now owns 15,066 shares of the company’s stock worth $1,156,000 after purchasing an additional 3,082 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Elastic by 10.7% during the third quarter. Stifel Financial Corp now owns 19,564 shares of the company’s stock worth $1,502,000 after purchasing an additional 1,898 shares in the last quarter. State Street Corp raised its stake in Elastic by 2.3% in the third quarter. State Street Corp now owns 1,437,243 shares of the company’s stock valued at $110,323,000 after purchasing an additional 31,663 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Elastic by 138.5% in the 3rd quarter. Wellington Management Group LLP now owns 9,134 shares of the company’s stock worth $701,000 after buying an additional 5,305 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ESTC shares. Cantor Fitzgerald assumed coverage on shares of Elastic in a research report on Friday, January 17th. They issued a “neutral” rating and a $108.00 target price for the company. UBS Group increased their price target on shares of Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Guggenheim boosted their price objective on shares of Elastic from $130.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Morgan Stanley boosted their price target on shares of Elastic from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, Truist Financial reduced their price objective on Elastic from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $130.74.

Insider Transactions at Elastic

In related news, CEO Ashutosh Kulkarni sold 18,735 shares of the business’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 $1,700,575.95. Following the completion of the sale, the chief executive officer now directly owns 376,591 shares in the company, valued at approximately $34,183,165.07. The trade was a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Shay Banon sold 2,683 shares of Elastic stock in a transaction 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 in the company, valued at $411,728,695.68. This represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,304 shares of company stock worth $20,847,452 over the last three months. 15.90% of the stock is currently owned by company insiders.

Elastic Price Performance

Shares of ESTC opened at $76.20 on Monday. The company has a market capitalization of $7.96 billion, a P/E ratio of 138.55 and a beta of 1.19. Elastic has a twelve month low of $69.00 and a twelve month 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 has a 50 day moving average of $103.65 and a 200 day moving average of $96.68.

Elastic (NYSE:ESTC) last posted its quarterly 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 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. As a group, equities research analysts anticipate that Elastic will post -0.77 earnings per share for the current fiscal 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.