Two Sigma Investments LP Acquires 273,134 Shares of Elastic (NYSE:ESTC)

Two Sigma Investments LP lifted its stake in Elastic (NYSE:ESTC) by 745.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 309,766 shares of the company’s stock after buying an additional 273,134 shares during the period. Two Sigma Investments LP’s holdings in Elastic were worth $30,692,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ESTC. Sigma Planning Corp increased its stake in Elastic by 3.7% during the 4th quarter. Sigma Planning Corp now owns 3,929 shares of the company’s stock worth $389,000 after acquiring an additional 139 shares during the period. CIBC Asset Management Inc raised its stake in Elastic by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,053 shares of the company’s stock valued at $302,000 after purchasing an additional 151 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in 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 purchasing an additional 158 shares during the period. Resolute Advisors LLC increased its holdings in Elastic by 7.1% in the 4th quarter. Resolute Advisors LLC now owns 3,255 shares of the company’s stock valued at $323,000 after buying an additional 217 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of Elastic by 0.7% during the 4th quarter. Van ECK Associates Corp now owns 32,954 shares of the company’s stock worth $3,265,000 after acquiring an additional 220 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insider Buying and Selling at Elastic

In related news, insider Carolyn Herzog sold 3,334 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was 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 $7,639,318.56. This represents a 3.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $38,140,100.24. This represents a 1.33% decrease in their position. The disclosure for this sale can be found here. In 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 company insiders.

Elastic Stock Up 2.2%

Shares of NYSE:ESTC opened at $94.30 on Wednesday. The firm has a market cap of $9.85 billion, a P/E ratio of 171.45 and a beta of 1.20. Elastic has a 12-month low of $69.00 and a 12-month high of $123.96. The business has a fifty day simple moving average of $86.48 and a 200 day simple moving average of $97.42. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.48). The company had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. Analysts predict that Elastic will post -0.77 earnings per share for the current year.

Analysts Set New Price Targets

ESTC has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective on shares of Elastic from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Scotiabank lowered their price target on Elastic from $140.00 to $137.00 and set a “sector outperform” rating for the company in a report on Thursday, March 27th. Morgan Stanley reduced their price objective on Elastic from $140.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Truist Financial decreased their target price on Elastic from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Finally, DA Davidson lowered their target price on Elastic from $115.00 to $75.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $126.87.

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.