Cypress Capital Management LLC WY Invests $45,000 in Elastic (NYSE:ESTC)

Cypress Capital Management LLC WY acquired a new position in shares of Elastic (NYSE:ESTC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 400 shares of the company’s stock, valued at approximately $45,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ESTC. Headlands Technologies LLC bought a new stake in Elastic in the 4th quarter valued at $143,000. Semanteon Capital Management LP bought a new stake in Elastic in the 4th quarter valued at $636,000. Jackson Hole Capital Partners LLC raised its stake in Elastic by 15.3% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 15,803 shares of the company’s stock valued at $1,781,000 after acquiring an additional 2,092 shares during the period. State of New Jersey Common Pension Fund D raised its stake in Elastic by 4.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 51,282 shares of the company’s stock valued at $5,779,000 after acquiring an additional 2,357 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new stake in Elastic in the 4th quarter valued at $97,000. Institutional investors own 97.03% of the company’s stock.

Insider Activity at Elastic

In other Elastic news, Director Steven Schuurman sold 815,000 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total value of $79,495,100.00. Following the completion of the transaction, the director now directly owns 8,382,000 shares in the company, valued at $817,580,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Elastic news, CEO Ashutosh Kulkarni sold 15,778 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $103.28, for a total value of $1,629,551.84. Following the completion of the transaction, the chief executive officer now directly owns 364,235 shares in the company, valued at $37,618,190.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven Schuurman sold 815,000 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total value of $79,495,100.00. Following the completion of the transaction, the director now owns 8,382,000 shares of the company’s stock, valued at $817,580,280. The disclosure for this sale can be found here. Insiders have sold 962,440 shares of company stock valued at $94,535,764 over the last ninety days. 18.10% of the stock is owned by corporate insiders.

Elastic Price Performance

NYSE:ESTC traded down $3.42 during trading hours on Monday, hitting $104.01. The company’s stock had a trading volume of 731,508 shares, compared to its average volume of 1,363,853. The stock has a fifty day simple moving average of $106.47 and a 200-day simple moving average of $102.90. The company has a market capitalization of $10.48 billion, a P/E ratio of 227.48 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. Elastic has a twelve month low of $54.06 and a twelve month high of $136.06.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.01. The business had revenue of $327.96 million for the quarter, compared to analyst estimates of $320.48 million. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. On average, analysts anticipate that Elastic will post -1.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ESTC has been the topic of a number of research analyst reports. Citigroup dropped their price target on Elastic from $165.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Truist Financial increased their price objective on Elastic from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group increased their price objective on Elastic from $93.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. TheStreet upgraded Elastic from a “d+” rating to a “c-” rating in a research report on Wednesday, February 7th. Finally, Scotiabank lowered their price objective on Elastic from $185.00 to $154.00 and set a “sector outperform” rating on the stock in a research report on Friday, March 1st. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $111.26.

Elastic Company 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.