Elastic (NYSE:ESTC) is Thematics Asset Management’s 10th Largest Position

Thematics Asset Management lessened its holdings in Elastic (NYSE:ESTC) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 401,012 shares of the company’s stock after selling 43,000 shares during the quarter. Elastic accounts for about 1.7% of Thematics Asset Management’s holdings, making the stock its 10th biggest position. Thematics Asset Management’s holdings in Elastic were worth $39,732,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in shares of Elastic in the fourth quarter valued at about $25,000. Geneos Wealth Management Inc. purchased a new position in Elastic in the fourth quarter valued at about $25,000. Venturi Wealth Management LLC increased its holdings in Elastic by 793.3% in the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after buying an additional 238 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Elastic by 126.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after acquiring an additional 158 shares during the period. Finally, Global Retirement Partners LLC boosted its stake in shares of Elastic by 1,065.2% during the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock worth $53,000 after acquiring an additional 490 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Trading Down 1.3 %

NYSE ESTC opened at $77.79 on Friday. The company has a market cap of $8.12 billion, a P/E ratio of 141.44 and a beta of 1.19. 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 company has a 50-day moving average of $95.22 and a 200-day moving average of $96.51.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 4.39% and a negative return on equity of 13.20%. As a group, equities analysts predict that Elastic will post -0.77 earnings per share for the current year.

Insider Transactions at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 5,000 shares of Elastic stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total transaction of $513,200.00. Following the transaction, the chief executive officer now directly owns 371,591 shares of the company’s stock, valued at $38,140,100.24. The trade was a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Shay Banon sold 140,129 shares of the stock in a transaction 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 completion of the sale, the chief technology officer now directly owns 2,254,978 shares of the company’s stock, valued at $240,561,053.04. The trade was a 5.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 198,304 shares of company stock worth $20,847,452 in the last ninety days. Insiders own 15.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ESTC shares. UBS Group raised their price objective on Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, February 28th. DA Davidson cut their price target on Elastic from $115.00 to $75.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Morgan Stanley decreased their price objective on shares of Elastic from $140.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday. Guggenheim raised their target price on shares of Elastic from $130.00 to $136.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, Scotiabank reduced their price target on shares of Elastic from $140.00 to $137.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 27th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Elastic presently has an average rating of “Moderate Buy” and a consensus price target of $127.48.

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.