Sumitomo Mitsui Trust Holdings Inc. Acquires Shares of 2,103 Elastic (NYSE:ESTC)

Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Elastic (NYSE:ESTC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,103 shares of the company’s stock, valued at approximately $237,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its stake in Elastic by 6.6% in 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 during the last quarter. Treasurer of the State of North Carolina boosted its position in shares of Elastic by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 34,154 shares of the company’s stock worth $2,775,000 after purchasing an additional 170 shares in the last quarter. Covestor Ltd boosted its position in shares of Elastic by 168.3% during the third quarter. Covestor Ltd now owns 448 shares of the company’s stock worth $36,000 after purchasing an additional 281 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Elastic by 3.6% during the third quarter. Principal Financial Group Inc. now owns 9,624 shares of the company’s stock worth $782,000 after purchasing an additional 334 shares in the last quarter. Finally, Xponance Inc. boosted its position in shares of Elastic by 3.3% during the third quarter. Xponance Inc. now owns 11,116 shares of the company’s stock worth $903,000 after purchasing an additional 356 shares in the last quarter. 97.03% of the stock is owned by institutional investors.

Elastic Stock Performance

Shares of ESTC stock opened at $107.40 on Friday. The company has a market capitalization of $10.83 billion, a price-to-earnings ratio of 233.48 and a beta of 0.94. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.87 and a current ratio of 1.87. The company has a 50-day simple moving average of $106.93 and a 200 day simple moving average of $102.42. Elastic has a 52 week low of $54.06 and a 52 week high of $136.06.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, February 29th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.01. The business had revenue of $327.96 million during the quarter, compared to the consensus estimate of $320.48 million. Elastic had a net margin of 4.63% and a negative return on equity of 23.94%. On average, sell-side analysts predict that Elastic will post -1.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ESTC shares. Oppenheimer lifted their price target on shares of Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Royal Bank of Canada lifted their price target on shares of Elastic from $134.00 to $147.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Truist Financial lifted their price target on shares of Elastic from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. The Goldman Sachs Group lifted their price target on shares of Elastic from $93.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Finally, Rosenblatt Securities lifted their price target on shares of Elastic from $105.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $111.26.

Insider Buying and Selling

In related news, CFO Janesh Moorjani sold 5,515 shares of Elastic stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $103.28, for a total transaction of $569,589.20. Following the completion of the sale, the chief financial officer now owns 156,797 shares of the company’s stock, valued at approximately $16,193,994.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Elastic news, CEO Ashutosh Kulkarni sold 15,778 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $103.28, for a total value of $1,629,551.84. Following the completion of the sale, the chief executive officer now owns 364,235 shares of the company’s stock, valued at approximately $37,618,190.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Janesh Moorjani sold 5,515 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $103.28, for a total transaction of $569,589.20. Following the completion of the sale, the chief financial officer now directly owns 156,797 shares of the company’s stock, valued at approximately $16,193,994.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 962,440 shares of company stock valued at $94,535,764. Company insiders own 18.10% of the company’s stock.

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.