HBK Investments L P Purchases New Shares in Elastic (NYSE:ESTC)

HBK Investments L P acquired a new position in Elastic (NYSE:ESTC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $991,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Barclays PLC raised its stake in Elastic by 56.2% in the third quarter. Barclays PLC now owns 153,155 shares of the company’s stock worth $11,757,000 after buying an additional 55,084 shares in the last quarter. Virtu Financial LLC grew its holdings in shares of Elastic by 131.9% during the 3rd quarter. Virtu Financial LLC now owns 4,338 shares of the company’s stock worth $333,000 after acquiring an additional 2,467 shares during the period. Tidal Investments LLC raised its position in shares of Elastic by 239.1% in the 3rd quarter. Tidal Investments LLC now owns 9,807 shares of the company’s stock worth $753,000 after acquiring an additional 6,915 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Elastic by 256.3% in the 3rd quarter. Franklin Resources Inc. now owns 341,524 shares of the company’s stock valued at $28,387,000 after purchasing an additional 245,680 shares during the period. Finally, Oddo BHF Asset Management Sas bought a new stake in shares of Elastic during the third quarter valued at approximately $14,324,000. 97.03% of the stock is currently owned by institutional investors.

Elastic Trading Up 5.6 %

Shares of Elastic stock opened at $81.89 on Friday. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96. The company’s fifty day simple moving average is $92.21 and its 200-day simple moving average is $96.39. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The stock has a market capitalization of $8.55 billion, a PE ratio of 148.89 and a beta of 1.19.

Elastic (NYSE:ESTC) last released its quarterly 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 net margin of 4.39% and a negative return on equity of 13.20%. The company had revenue of $382.08 million for the quarter, compared to the consensus estimate of $368.85 million. As a group, equities analysts anticipate that Elastic will post -0.77 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total value of $513,200.00. Following the completion of the sale, the chief executive officer now directly owns 371,591 shares of the company’s stock, valued at $38,140,100.24. This represents a 1.33 % decrease in their ownership of the stock. 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 firm’s stock in a transaction on Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the sale, the chief technology officer now owns 2,408,541 shares in the company, valued at $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. In the last ninety days, insiders sold 198,304 shares of company stock valued at $20,847,452. 15.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price objective on shares of Elastic in a report on Tuesday, February 25th. Jefferies Financial Group decreased their price target on shares of Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Wells Fargo & Company boosted their price objective on shares of Elastic from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Canaccord Genuity Group boosted their price target on Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Morgan Stanley reduced their price objective on Elastic from $140.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Elastic has a consensus rating of “Moderate Buy” and an average target price of $127.48.

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.