Elastic (NYSE:ESTC) Shares Acquired by Guggenheim Capital LLC

Guggenheim Capital LLC lifted its holdings in Elastic (NYSE:ESTC) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,278 shares of the company’s stock after acquiring an additional 230 shares during the quarter. Guggenheim Capital LLC’s holdings in Elastic were worth $721,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in Elastic in the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. acquired a new position in shares of Elastic in the 4th quarter valued at $25,000. Venturi Wealth Management LLC boosted its holdings in Elastic by 793.3% during the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after buying an additional 238 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after buying an additional 158 shares during the period. Finally, Global Retirement Partners LLC grew its position in Elastic by 1,065.2% during the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock valued at $53,000 after buying an additional 490 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Piper Sandler upped their price objective on shares of Elastic from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and set a $130.00 price target on shares of Elastic in a research report on Tuesday, February 25th. Scotiabank cut their price objective on Elastic from $140.00 to $137.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 27th. Truist Financial decreased their target price on Elastic from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Finally, Guggenheim boosted 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. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $127.48.

Elastic Trading Up 5.6 %

Shares of ESTC stock opened at $81.89 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a twelve month low of $69.00 and a twelve month high of $123.96. The company’s 50-day moving average price is $92.21 and its 200-day moving average price is $96.39. The stock has a market cap of $8.55 billion, a price-to-earnings ratio of 148.89 and a beta of 1.19.

Elastic (NYSE:ESTC) last posted 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). The firm had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. As a group, equities analysts predict that Elastic will post -0.77 earnings per share for the current year.

Insider Buying and Selling at Elastic

In related news, CEO Ashutosh Kulkarni sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total value of $513,200.00. Following the sale, the chief executive officer now directly owns 371,591 shares in the company, valued at approximately $38,140,100.24. The trade was a 1.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Shay Banon sold 25,668 shares of the stock in a transaction dated 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 transaction, the chief technology officer now directly owns 2,408,541 shares of the company’s stock, valued at approximately $271,033,118.73. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 198,304 shares of company stock worth $20,847,452 over the last quarter. 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.