Elastic (NYSE:ESTC) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its position in shares of Elastic (NYSE:ESTC) by 15.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,429,756 shares of the company’s stock after acquiring an additional 462,974 shares during the period. Pictet Asset Management Holding SA owned about 3.31% of Elastic worth $339,820,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Elastic by 25.6% in the third quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after acquiring an additional 1,115,750 shares during the period. Norges Bank bought a new stake in shares of Elastic in the 4th quarter worth approximately $102,485,000. Atreides Management LP boosted its position in Elastic by 57.2% during the 3rd quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock valued at $129,555,000 after purchasing an additional 614,309 shares during the period. JAT Capital Mgmt LP grew its stake in Elastic by 601.4% during the 3rd quarter. JAT Capital Mgmt LP now owns 465,549 shares of the company’s stock worth $35,736,000 after buying an additional 399,175 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Elastic by 592.1% during the 4th quarter. American Century Companies Inc. now owns 366,103 shares of the company’s stock worth $36,274,000 after buying an additional 313,207 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ESTC shares. Truist Financial boosted their price target on shares of Elastic from $135.00 to $145.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Cantor Fitzgerald assumed coverage on shares of Elastic in a research note on Friday, January 17th. They set a “neutral” rating and a $108.00 target price for the company. Scotiabank dropped their price target on shares of Elastic from $140.00 to $137.00 and set a “sector outperform” rating on the stock in a research note on Thursday. Robert W. Baird boosted their price objective on Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Finally, Canaccord Genuity Group raised their target price on Elastic from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Elastic has an average rating of “Moderate Buy” and an average target price of $131.39.

Elastic Stock Down 4.4 %

ESTC stock opened at $94.96 on Friday. The firm has a market cap of $9.91 billion, a PE ratio of 172.65 and a beta of 1.20. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a 50 day simple moving average of $105.43 and a 200 day simple moving average of $95.83.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). The company had revenue of $382.08 million for 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%. Equities research analysts forecast that Elastic will post -0.77 earnings per share for the current fiscal year.

Insider Activity at Elastic

In related news, CEO Ashutosh Kulkarni sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total value of $513,200.00. Following the completion of the sale, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Shay Banon sold 140,129 shares of Elastic stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the transaction, the chief technology officer now owns 2,254,978 shares in the company, valued at approximately $240,561,053.04. The trade was a 5.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 198,304 shares of company stock worth $20,847,452 in the last quarter. 15.90% of the stock is 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.