Elastic (NYSE:ESTC) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD cut its stake in Elastic (NYSE:ESTC) by 33.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,694 shares of the company’s stock after selling 75,744 shares during the period. Price T Rowe Associates Inc. MD owned 0.14% of Elastic worth $14,733,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Elastic during the fourth quarter worth approximately $102,485,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Elastic by 5,972.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company’s stock worth $73,751,000 after buying an additional 732,100 shares during the period. Marshall Wace LLP grew its position in Elastic by 554.9% during the 4th quarter. Marshall Wace LLP now owns 641,041 shares of the company’s stock worth $63,514,000 after purchasing an additional 543,155 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Elastic by 15.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company’s stock valued at $339,820,000 after buying an additional 462,974 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Elastic by 592.1% during the fourth quarter. American Century Companies Inc. now owns 366,103 shares of the company’s stock valued at $36,274,000 after buying an additional 313,207 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insider Activity

In related news, CTO Shay Banon sold 25,668 shares of Elastic stock in a transaction dated Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total value of $2,888,420.04. Following the completion of the transaction, the chief technology officer now directly owns 2,408,541 shares of the company’s stock, valued at $271,033,118.73. The trade was a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Mark Eugene Dodds sold 2,755 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $250,071.35. Following the sale, the executive now directly owns 96,484 shares in the company, valued at approximately $8,757,852.68. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 198,304 shares of company stock worth $20,847,452. Insiders own 15.90% of the company’s stock.

Elastic Price Performance

Elastic stock opened at $83.07 on Friday. 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 business has a 50 day simple moving average of $89.39 and a 200 day simple moving average of $96.55. Elastic has a one year low of $69.00 and a one year high of $123.96. The company has a market capitalization of $8.67 billion, a PE ratio of 151.04 and a beta of 1.19.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The firm had revenue of $382.08 million for the quarter, compared to analyst estimates of $368.85 million. On average, sell-side analysts forecast that Elastic will post -0.77 EPS for the current fiscal year.

Analysts Set New Price Targets

ESTC has been the topic of several research analyst reports. Cantor Fitzgerald began coverage on Elastic in a research note on Friday, January 17th. They set a “neutral” rating and a $108.00 target price on the stock. DA Davidson cut their target price on shares of Elastic from $115.00 to $75.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. UBS Group boosted their price target on shares of Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, February 28th. Scotiabank cut their price target on Elastic from $140.00 to $137.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 27th. Finally, Guggenheim lifted their price objective on shares of Elastic from $130.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Elastic currently has an average rating of “Moderate Buy” and an average price target 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.