Goldman Sachs Group Inc. Raises Position in Elastic (NYSE:ESTC)

Goldman Sachs Group Inc. increased its holdings in Elastic (NYSE:ESTCGet Rating) by 48.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,072,786 shares of the company’s stock after acquiring an additional 348,165 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Elastic were worth $132,048,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new position in Elastic in the fourth quarter valued at $96,794,000. Point72 Asset Management L.P. increased its stake in Elastic by 88.1% in the fourth quarter. Point72 Asset Management L.P. now owns 622,095 shares of the company’s stock valued at $76,574,000 after acquiring an additional 291,295 shares during the last quarter. Suvretta Capital Management LLC bought a new position in Elastic in the third quarter valued at $40,376,000. Mawer Investment Management Ltd. increased its stake in Elastic by 25.7% in the fourth quarter. Mawer Investment Management Ltd. now owns 1,005,419 shares of the company’s stock valued at $123,757,000 after acquiring an additional 205,411 shares during the last quarter. Finally, Thornburg Investment Management Inc. increased its stake in Elastic by 74.1% in the fourth quarter. Thornburg Investment Management Inc. now owns 433,924 shares of the company’s stock valued at $53,412,000 after acquiring an additional 184,708 shares during the last quarter. Institutional investors own 77.44% of the company’s stock.

A number of research analysts have recently issued reports on the company. Monness Crespi & Hardt reduced their price objective on Elastic from $230.00 to $124.00 and set a “buy” rating on the stock in a research note on Wednesday, March 2nd. Jefferies Financial Group reduced their price objective on Elastic from $90.00 to $60.00 in a research note on Monday, May 23rd. Barclays reduced their price objective on Elastic from $135.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday, May 20th. William Blair assumed coverage on Elastic in a research note on Monday, April 25th. They set an “outperform” rating on the stock. Finally, Stifel Nicolaus reduced their price objective on Elastic from $148.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, March 21st. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $139.88.

Shares of ESTC stock traded up $4.64 during trading hours on Friday, hitting $64.65. 1,299,361 shares of the company’s stock traded hands, compared to its average volume of 1,493,297. The stock’s fifty day simple moving average is $77.68 and its two-hundred day simple moving average is $98.44. Elastic has a 12-month low of $50.74 and a 12-month high of $189.84. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of -32.65 and a beta of 1.28. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 1.31.

Elastic (NYSE:ESTCGet Rating) last released its earnings results on Thursday, March 3rd. The company reported ($0.53) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.53). Elastic had a negative net margin of 22.67% and a negative return on equity of 34.20%. The firm had revenue of $223.94 million during the quarter, compared to analyst estimates of $209.71 million. During the same period last year, the business earned ($0.33) earnings per share. The business’s revenue was up 42.5% on a year-over-year basis. On average, equities analysts forecast that Elastic will post -1.79 earnings per share for the current fiscal year.

In related news, CEO Ashutosh Kulkarni sold 5,822 shares of the firm’s stock in a transaction that occurred on Friday, March 11th. The shares were sold at an average price of $75.30, for a total transaction of $438,396.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan Chadwick sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, April 25th. The shares were sold at an average price of $82.29, for a total transaction of $514,312.50. Following the sale, the director now directly owns 5,102 shares of the company’s stock, valued at approximately $419,843.58. The disclosure for this sale can be found here. Insiders have sold 12,415 shares of company stock valued at $978,537 over the last quarter. Company insiders own 18.90% of the company’s stock.

Elastic Company Profile (Get Rating)

Elastic N.V., a search company, delivers technology that enables users to search through structured and unstructured data for a range of consumer and enterprise applications. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as perform search, analysis, and visualization.

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Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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