Two Sigma Investments LP Purchases 273,134 Shares of Elastic (NYSE:ESTC)

Two Sigma Investments LP boosted its holdings in shares of Elastic (NYSE:ESTC) by 745.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 309,766 shares of the company’s stock after acquiring an additional 273,134 shares during the period. Two Sigma Investments LP owned approximately 0.30% of Elastic worth $30,692,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. bought a new stake in shares of Elastic during the fourth quarter worth $25,000. SBI Securities Co. Ltd. acquired a new position in Elastic in the 4th quarter worth $25,000. Venturi Wealth Management LLC increased its holdings in Elastic by 793.3% during the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after purchasing an additional 238 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after purchasing an additional 158 shares during the period. Finally, Global Retirement Partners LLC raised its stake in shares of Elastic by 1,065.2% in the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock valued at $53,000 after purchasing an additional 490 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Elastic Price Performance

NYSE:ESTC opened at $94.30 on Wednesday. Elastic has a 12-month low of $69.00 and a 12-month high of $123.96. The firm has a market capitalization of $9.85 billion, a price-to-earnings ratio of 171.45 and a beta of 1.20. The stock’s 50 day moving average price is $86.48 and its two-hundred day moving average price is $97.42. 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 posted 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 business had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. On average, analysts anticipate that Elastic will post -0.77 earnings per share for the current year.

Insider Transactions at Elastic

In other Elastic news, CTO Shay Banon sold 140,129 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $106.68, for a total value of $14,948,961.72. Following the transaction, the chief technology officer now directly owns 2,254,978 shares of the company’s stock, valued at $240,561,053.04. This represents a 5.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total value of $513,200.00. Following the transaction, the chief executive officer now owns 371,591 shares in the company, valued at $38,140,100.24. The trade was a 1.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 198,304 shares of company stock worth $20,847,452. 15.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wells Fargo & Company upped 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. UBS Group upped their price target on Elastic from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Canaccord Genuity Group lifted their price objective on shares of Elastic from $130.00 to $135.00 and gave the company a “buy” rating in a report on Friday, February 28th. Jefferies Financial Group cut their price objective on shares of Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Finally, Truist Financial decreased their target price on shares of Elastic from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Seven investment 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, Elastic presently has a consensus rating of “Moderate Buy” and an average target price of $126.87.

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.