Graham Capital Management L.P. Buys 14,600 Shares of Elastic (NYSE:ESTC)

Graham Capital Management L.P. grew its stake in shares of Elastic (NYSE:ESTC) by 435.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,955 shares of the company’s stock after purchasing an additional 14,600 shares during the period. Graham Capital Management L.P.’s holdings in Elastic were worth $1,779,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Slow Capital Inc. bought a new stake in shares of Elastic during the 4th quarter valued at about $5,039,000. Wealth Effects LLC boosted its stake in shares of Elastic by 25.4% during the 4th quarter. Wealth Effects LLC now owns 28,800 shares of the company’s stock valued at $2,854,000 after purchasing an additional 5,830 shares in the last quarter. Smith Group Asset Management LLC bought a new stake in Elastic during the fourth quarter worth about $3,408,000. Nisa Investment Advisors LLC boosted its stake in Elastic by 3,442.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 14,525 shares of the company’s stock worth $1,439,000 after acquiring an additional 14,115 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Elastic by 187.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 9,073 shares of the company’s stock worth $899,000 after acquiring an additional 5,919 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

ESTC has been the topic of several research reports. 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. Morgan Stanley dropped their price objective on shares of Elastic from $140.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Jefferies Financial Group dropped their price objective on shares of Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Robert W. Baird boosted their price objective on shares of Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Finally, Canaccord Genuity Group upped their target price on shares of Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $127.48.

Insider Buying and Selling at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 5,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 371,591 shares in the company, valued at $38,140,100.24. This represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 of the company’s stock, 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. Over the last ninety days, insiders sold 198,304 shares of company stock valued at $20,847,452. Insiders own 15.90% of the company’s stock.

Elastic Stock Down 0.8%

ESTC opened at $85.55 on Monday. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average price of $87.13 and a 200-day moving average price of $96.93. Elastic has a twelve month low of $69.00 and a twelve month high of $123.96. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of 155.55 and a beta of 1.20.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, February 27th. The company reported ($0.01) EPS 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 for the quarter, compared to analysts’ expectations of $368.85 million. Equities research analysts forecast that Elastic will post -0.77 earnings per share for the current year.

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.