Elastic (NYSE:ESTC) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. cut its holdings in shares of Elastic (NYSE:ESTC) by 17.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,233 shares of the company’s stock after selling 485 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Elastic were worth $252,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Covestor Ltd grew its stake in Elastic by 168.3% during the 3rd quarter. Covestor Ltd now owns 448 shares of the company’s stock worth $36,000 after buying an additional 281 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of Elastic during the third quarter valued at about $151,000. PNC Financial Services Group Inc. increased its holdings in shares of Elastic by 6.6% during the third quarter. PNC Financial Services Group Inc. now owns 2,284 shares of the company’s stock valued at $186,000 after acquiring an additional 142 shares in the last quarter. Ardsley Advisory Partners LP purchased a new position in shares of Elastic in the 3rd quarter valued at approximately $203,000. Finally, Catalyst Private Wealth LLC acquired a new stake in Elastic in the 4th quarter worth approximately $208,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Stock Up 4.2 %

ESTC opened at $102.54 on Wednesday. The company has a fifty day moving average of $108.34 and a two-hundred day moving average of $102.24. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 222.91 and a beta of 0.94. Elastic has a fifty-two week low of $54.06 and a fifty-two week high of $136.06. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.87 and a current ratio of 1.87.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, February 29th. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.01. The firm had revenue of $327.96 million for the quarter, compared to analysts’ expectations of $320.48 million. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. On average, research analysts expect that Elastic will post -1.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Scotiabank cut their price target on shares of Elastic from $185.00 to $154.00 and set a “sector outperform” rating on the stock in a research note on Friday, March 1st. Citigroup reduced their target price on Elastic from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, March 4th. TheStreet upgraded Elastic from a “d+” rating to a “c-” rating in a research note on Wednesday, February 7th. Truist Financial increased their price objective on Elastic from $130.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Finally, Oppenheimer lifted their target price on Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.26.

Insider Transactions at Elastic

In related news, Director Steven Schuurman sold 815,000 shares of Elastic stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total value of $79,495,100.00. Following the sale, the director now owns 8,382,000 shares of the company’s stock, valued at approximately $817,580,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Steven Schuurman sold 815,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the completion of the transaction, the director now owns 8,382,000 shares in the company, valued at approximately $817,580,280. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Shay Banon sold 1,322 shares of Elastic stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $106.23, for a total value of $140,436.06. Following the completion of the sale, the chief technology officer now owns 4,518,714 shares in the company, valued at $480,022,988.22. The disclosure for this sale can be found here. Insiders sold a total of 962,440 shares of company stock valued at $94,535,764 in the last three months. 18.10% of the stock is currently owned by company insiders.

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.