Bayesian Capital Management LP Takes Position in Elastic (NYSE:ESTC)

Bayesian Capital Management LP bought a new position in shares of Elastic (NYSE:ESTC) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 42,818 shares of the company’s stock, valued at approximately $4,242,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Elastic in the 4th quarter valued at about $102,485,000. Arrowstreet Capital Limited Partnership grew its holdings in Elastic by 5,972.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company’s stock worth $73,751,000 after purchasing an additional 732,100 shares during the period. Marshall Wace LLP grew its holdings in Elastic by 554.9% during the fourth 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 during the period. Fuller & Thaler Asset Management Inc. acquired a new position in Elastic during the fourth quarter worth approximately $46,031,000. Finally, Pictet Asset Management Holding SA raised its stake in Elastic by 15.6% in 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 during the period. 97.03% of the stock is owned by institutional investors.

Insider Transactions at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was 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 owns 371,591 shares of the company’s stock, valued at $38,140,100.24. This represents a 1.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Shay Banon sold 25,668 shares of the stock in a transaction dated Sunday, March 2nd. The shares were 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 owns 2,408,541 shares of the company’s stock, valued at $271,033,118.73. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 198,304 shares of company stock valued at $20,847,452. 15.90% of the stock is currently owned by insiders.

Elastic Stock Down 3.7 %

Shares of ESTC opened at $83.07 on Friday. The firm has a 50 day simple moving average of $89.39 and a two-hundred day simple moving average of $96.65. The company has a market cap of $8.67 billion, a P/E ratio of 151.04 and a beta of 1.20. Elastic has a one year low of $69.00 and a one year high of $123.96. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99.

Elastic (NYSE:ESTC) last posted its quarterly 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). The business had revenue of $382.08 million for the quarter, compared to analyst estimates of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. Research analysts forecast that Elastic will post -0.77 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ESTC shares. Truist Financial decreased their target price on Elastic from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Wells Fargo & Company upped their price objective on shares of Elastic from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Jefferies Financial Group cut their target price on shares of Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Piper Sandler upped their price target on shares of Elastic from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Finally, DA Davidson decreased their target price on Elastic from $115.00 to $75.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Elastic currently has an average rating of “Moderate Buy” and an average price target of $127.48.

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.