Lisanti Capital Growth LLC Takes Position in Elastic (NYSE:ESTC)

Lisanti Capital Growth LLC purchased a new stake in Elastic (NYSE:ESTC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,505 shares of the company’s stock, valued at approximately $645,000.

A number of other hedge funds have also made changes to their positions in the company. FMR LLC increased its position in shares of Elastic by 25.6% in the third quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after buying an additional 1,115,750 shares in the last quarter. Atreides Management LP increased its position in Elastic by 57.2% during the 3rd quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock worth $129,555,000 after purchasing an additional 614,309 shares in the last quarter. State Street Corp increased 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 purchasing an additional 31,663 shares in the last quarter. Geode Capital Management LLC increased its position 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 purchasing an additional 50,355 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Elastic by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 563,085 shares of the company’s stock worth $55,790,000 after purchasing an additional 17,215 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Stock Performance

Shares of ESTC opened at $94.94 on Friday. The business’s 50 day moving average is $106.32 and its two-hundred day moving average is $95.56. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96. The firm has a market cap of $9.84 billion, a price-to-earnings ratio of 172.61 and a beta of 1.20. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.

Elastic (NYSE:ESTC) last issued its quarterly earnings results 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). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The firm had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. Analysts forecast that Elastic will post -0.77 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on ESTC. Wells Fargo & Company lifted their price objective on Elastic from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. lifted their price objective on Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Truist Financial lifted their price objective on Elastic from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Scotiabank lifted their price objective on Elastic from $127.00 to $140.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 28th. Finally, Citigroup lifted their price target on Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 25th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.52.

Insider Activity

In other Elastic news, CEO Ashutosh Kulkarni sold 7,017 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value of $758,678.04. Following the transaction, the chief executive officer now directly owns 395,326 shares of the company’s stock, valued at $42,742,647.12. This represents a 1.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Shay Banon sold 25,668 shares of the company’s stock in a transaction dated Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total value of $2,888,420.04. Following the completion of the transaction, the chief technology officer now directly owns 2,408,541 shares in the company, valued at approximately $271,033,118.73. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 172,814 shares of company stock worth $18,596,060 over the last 90 days. 15.90% of the stock is currently owned by company insiders.

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.