Strategic Vision Investment Ltd Purchases New Position in Elastic (NYSE:ESTC)

Strategic Vision Investment Ltd bought a new position in shares of Elastic (NYSE:ESTC) during the fourth quarter, Holdings Channel.com reports. The firm bought 22,756 shares of the company’s stock, valued at approximately $2,565,000. Elastic comprises 2.3% of Strategic Vision Investment Ltd’s investment portfolio, making the stock its 7th largest position.

Several other institutional investors have also recently made changes to their positions in the company. Quarry LP grew its holdings in Elastic by 79.6% in the first quarter. Quarry LP now owns 591 shares of the company’s stock worth $34,000 after purchasing an additional 262 shares during the period. Covestor Ltd increased its holdings in shares of Elastic by 168.3% during the third quarter. Covestor Ltd now owns 448 shares of the company’s stock valued at $36,000 after acquiring an additional 281 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Elastic by 50.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 707 shares of the company’s stock worth $36,000 after purchasing an additional 238 shares during the last quarter. Amundi boosted its stake in Elastic by 2,063.8% in the 4th quarter. Amundi now owns 1,017 shares of the company’s stock worth $53,000 after purchasing an additional 970 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in Elastic by 19.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 928 shares of the company’s stock valued at $75,000 after purchasing an additional 152 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Insiders Place Their Bets

In other news, Director Steven Schuurman sold 815,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the sale, the director now directly owns 8,382,000 shares in the company, valued at approximately $817,580,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO Shay Banon sold 1,322 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $106.23, for a total transaction of $140,436.06. Following the completion of the transaction, the chief technology officer now owns 4,518,714 shares in the company, valued at $480,022,988.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven Schuurman sold 815,000 shares of Elastic stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the completion of the sale, the director now owns 8,382,000 shares in the company, valued at $817,580,280. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 962,440 shares of company stock worth $94,535,764. Company insiders own 18.10% of the company’s stock.

Elastic Stock Performance

Shares of NYSE:ESTC traded up $0.33 during midday trading on Wednesday, hitting $95.18. The company had a trading volume of 1,195,660 shares, compared to its average volume of 1,000,316. The company has a market cap of $9.59 billion, a price-to-earnings ratio of 206.93 and a beta of 0.94. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.87 and a quick ratio of 1.87. The company has a fifty day moving average of $110.85 and a two-hundred day moving average of $101.74. Elastic has a 12-month low of $54.06 and a 12-month high of $136.06.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.01. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. The business had revenue of $327.96 million during the quarter, compared to analysts’ expectations of $320.48 million. On average, equities research analysts expect that Elastic will post -1.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ESTC shares. Royal Bank of Canada lifted their target price on shares of Elastic from $134.00 to $147.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. TheStreet raised Elastic from a “d+” rating to a “c-” rating in a research report on Wednesday, February 7th. Oppenheimer increased their target price on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Citigroup decreased their price target on Elastic from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Finally, Rosenblatt Securities increased their price objective on Elastic from $105.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.26.

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.