Xponance Inc. Raises Holdings in Elastic (NYSE:ESTC)

Xponance Inc. increased its position in Elastic (NYSE:ESTC) by 11.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,980 shares of the company’s stock after acquiring an additional 1,231 shares during the quarter. Xponance Inc.’s holdings in Elastic were worth $1,187,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ESTC. FMR LLC increased its stake in shares of Elastic by 25.6% in the third quarter. FMR LLC now owns 5,475,297 shares of the company’s stock worth $420,284,000 after purchasing an additional 1,115,750 shares in the last quarter. Atreides Management LP boosted its holdings in Elastic by 57.2% in the 3rd quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock worth $129,555,000 after buying an additional 614,309 shares during the period. State Street Corp grew its stake in Elastic by 2.3% in the 3rd quarter. State Street Corp now owns 1,437,243 shares of the company’s stock valued at $110,323,000 after buying an additional 31,663 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Elastic by 3.7% during the third quarter. Geode Capital Management LLC now owns 1,394,336 shares of the company’s stock worth $107,058,000 after acquiring an additional 50,355 shares in the last quarter. Finally, Amundi boosted its holdings in shares of Elastic by 27.4% in the fourth quarter. Amundi now owns 832,470 shares of the company’s stock worth $81,615,000 after acquiring an additional 179,054 shares during the period. 97.03% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CTO Shay Banon sold 25,668 shares of the company’s stock in a transaction that occurred 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 owns 2,408,541 shares in the company, valued at $271,033,118.73. This represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $1,700,575.95. Following the completion of the sale, the chief executive officer now directly owns 376,591 shares of the company’s stock, valued at $34,183,165.07. The trade was a 4.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 193,304 shares of company stock valued at $20,334,252. Insiders own 15.90% of the company’s stock.

Elastic Trading Up 2.3 %

Shares of ESTC stock opened at $96.96 on Monday. The business has a 50-day moving average of $105.33 and a 200 day moving average of $95.38. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96. The stock has a market capitalization of $10.12 billion, a PE ratio of 176.29 and a beta of 1.20.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) 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 firm had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. As a group, sell-side analysts anticipate that Elastic will post -0.77 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on ESTC shares. Scotiabank reissued an “outperform” rating on shares of Elastic in a report on Friday, February 28th. Guggenheim increased their price target on shares of Elastic from $130.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Cantor Fitzgerald began coverage on shares of Elastic in a research note on Friday, January 17th. They set a “neutral” rating and a $108.00 price objective for the company. Citigroup increased their target price on shares of Elastic from $136.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Morgan Stanley boosted their price target on shares of Elastic from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.52.

Elastic Company 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.