Fortress Investment Group LLC Invests $1.98 Million in Elastic (NYSE:ESTC)

Fortress Investment Group LLC bought a new position in shares of Elastic (NYSE:ESTC) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 20,000 shares of the company’s stock, valued at approximately $1,982,000. Elastic makes up approximately 0.3% of Fortress Investment Group LLC’s portfolio, making the stock its 9th largest position.

Several other institutional investors have also recently added to or reduced their stakes in ESTC. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic during the fourth quarter worth about $25,000. SBI Securities Co. Ltd. purchased a new stake in Elastic in the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC boosted its holdings in shares of Elastic by 793.3% in the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after acquiring an additional 238 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after acquiring an additional 158 shares during the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of Elastic by 1,065.2% in the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock valued at $53,000 after acquiring an additional 490 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. UBS Group raised their price objective on shares of Elastic from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Jefferies Financial Group lowered their price target on Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Canaccord Genuity Group upped their price objective on Elastic from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Wells Fargo & Company lifted their target price on Elastic from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Finally, Robert W. Baird upped their price target on Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Elastic has an average rating of “Moderate Buy” and a consensus target price of $127.48.

Elastic Stock Down 0.8 %

Shares of NYSE:ESTC opened at $85.55 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm has a market cap of $8.93 billion, a price-to-earnings ratio of 155.55 and a beta of 1.20. The stock’s 50-day moving average price is $87.13 and its two-hundred day moving average price is $96.66. Elastic has a 12-month low of $69.00 and a 12-month high of $123.96.

Elastic (NYSE:ESTC) last released 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). The company had revenue of $382.08 million during the quarter, compared to analysts’ expectations of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. On average, research analysts forecast that Elastic will post -0.77 EPS for the current year.

Insider Transactions at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total value of $513,200.00. Following the sale, the chief executive officer now directly owns 371,591 shares in the company, valued at approximately $38,140,100.24. This trade represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Carolyn Herzog sold 3,334 shares of Elastic stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.78, for a total transaction of $302,660.52. Following the sale, the insider now owns 84,152 shares in the company, valued at approximately $7,639,318.56. This represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 198,304 shares of company stock worth $20,847,452 in the last three months. 15.90% of the stock is currently owned by company insiders.

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.