Zurcher Kantonalbank Zurich Cantonalbank Has $3.86 Million Stake in Elastic (NYSE:ESTC)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Elastic (NYSE:ESTC) by 8.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,955 shares of the company’s stock after buying an additional 2,977 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Elastic were worth $3,860,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Slow Capital Inc. acquired a new position in Elastic in the fourth quarter valued at $5,039,000. Wealth Effects LLC lifted its holdings in Elastic by 25.4% in the fourth quarter. Wealth Effects LLC now owns 28,800 shares of the company’s stock valued at $2,854,000 after buying an additional 5,830 shares during the period. Blueshift Asset Management LLC acquired a new position in Elastic in the third quarter valued at $585,000. Charles Schwab Investment Management Inc. lifted its holdings in Elastic by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock valued at $41,901,000 after buying an additional 14,590 shares during the period. Finally, Bangor Savings Bank acquired a new position in shares of Elastic during the fourth quarter valued at about $1,657,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ESTC. UBS Group upped their price objective on shares of Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, February 28th. Jefferies Financial Group upped their price objective on shares of Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Citigroup upped their price objective on shares of Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 25th. Bank of America upped their price objective on shares of Elastic from $94.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Wedbush lowered shares of Elastic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Seven 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $131.52.

Elastic Stock Up 3.6 %

Elastic stock opened at $95.00 on Friday. Elastic has a twelve month low of $69.00 and a twelve month high of $123.96. The firm has a 50 day moving average price of $105.68 and a 200-day moving average price of $94.91. The company has a market capitalization of $9.92 billion, a P/E ratio of 172.73 and a beta of 1.20. 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 released its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The company had revenue of $382.08 million for the quarter, compared to the consensus estimate of $368.85 million. As a group, equities analysts predict that Elastic will post -0.77 EPS for the current year.

Insider Activity at Elastic

In related news, CTO Shay Banon sold 2,683 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.78, for a total transaction of $243,562.74. Following the sale, the chief technology officer now directly owns 4,535,456 shares in the company, valued at approximately $411,728,695.68. This represents a 0.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total transaction of $758,678.04. Following the sale, the chief executive officer now owns 395,326 shares in the company, valued at $42,742,647.12. The trade was a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 200,321 shares of company stock worth $21,092,930. 15.90% of the stock is owned by corporate 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.