Royal Bank of Canada Buys 133,911 Shares of Elastic (NYSE:ESTC)

Royal Bank of Canada increased its stake in shares of Elastic (NYSE:ESTC) by 187.6% in the 4th quarter, Holdings Channel reports. The firm owned 205,302 shares of the company’s stock after buying an additional 133,911 shares during the period. Royal Bank of Canada’s holdings in Elastic were worth $20,341,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Elastic during the 4th quarter valued at $102,485,000. Arrowstreet Capital Limited Partnership lifted its holdings in Elastic by 5,972.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company’s stock valued at $73,751,000 after acquiring an additional 732,100 shares during the period. Marshall Wace LLP boosted its position in Elastic by 554.9% in 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 last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Elastic during the 4th quarter valued at about $46,031,000. Finally, Pictet Asset Management Holding SA increased its position in shares of Elastic by 15.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company’s stock valued at $339,820,000 after purchasing an additional 462,974 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Guggenheim raised their price objective on shares of Elastic from $130.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, February 28th. TD Securities decreased their price target on shares of Elastic from $125.00 to $105.00 and set a “hold” rating on the stock in a research report on Wednesday. Rosenblatt Securities reissued a “buy” rating and set a $130.00 price objective on shares of Elastic in a research report on Tuesday, February 25th. Jefferies Financial Group reduced their price objective on Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Finally, DA Davidson lowered 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. Nine research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $125.96.

Insider Activity at Elastic

In other news, CEO Ashutosh Kulkarni sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total transaction 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 represents a 1.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 owns 2,408,541 shares of the company’s stock, valued at approximately $271,033,118.73. This represents a 1.05% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 198,304 shares of company stock valued at $20,847,452. Insiders own 15.90% of the company’s stock.

Elastic Price Performance

Shares of NYSE:ESTC opened at $92.38 on Friday. The firm has a market cap of $9.65 billion, a price-to-earnings ratio of 167.96 and a beta of 1.20. The firm has a fifty day moving average price of $86.32 and a 200 day moving average price of $97.62. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) EPS 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 analysts’ expectations of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. As a group, sell-side analysts expect that Elastic will post -0.77 earnings per share for the current fiscal year.

About Elastic

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.