Landscape Capital Management L.L.C. Takes $330,000 Position in Elastic (NYSE:ESTC)

Landscape Capital Management L.L.C. bought a new position in Elastic (NYSE:ESTC) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 3,329 shares of the company’s stock, valued at approximately $330,000.

Several other large investors also recently bought and sold shares of ESTC. Resolute Advisors LLC boosted its position in Elastic by 7.1% in the fourth quarter. Resolute Advisors LLC now owns 3,255 shares of the company’s stock valued at $323,000 after buying an additional 217 shares during the last quarter. ExodusPoint Capital Management LP boosted its holdings in shares of Elastic by 125.3% in the 4th quarter. ExodusPoint Capital Management LP now owns 110,387 shares of the company’s stock valued at $10,937,000 after acquiring an additional 61,389 shares during the last quarter. Cinctive Capital Management LP increased its stake in shares of Elastic by 1,876.3% in the fourth quarter. Cinctive Capital Management LP now owns 79,051 shares of the company’s stock worth $7,832,000 after acquiring an additional 75,051 shares during the period. Trexquant Investment LP increased its stake in shares of Elastic by 461.2% in the fourth quarter. Trexquant Investment LP now owns 252,434 shares of the company’s stock worth $25,011,000 after acquiring an additional 207,452 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Elastic by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company’s stock worth $142,663,000 after purchasing an additional 45,076 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Stock Down 2.4 %

ESTC stock opened at $74.28 on Tuesday. The company has a market cap of $7.76 billion, a price-to-earnings ratio of 135.05 and a beta of 1.19. The firm has a 50-day moving average of $103.04 and a two-hundred day moving average of $96.66. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). The firm had revenue of $382.08 million for the quarter, compared to analysts’ expectations of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. As a group, analysts forecast that Elastic will post -0.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on ESTC. Wedbush downgraded Elastic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group lifted their price target on Elastic from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Guggenheim upped their price objective on Elastic from $130.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Robert W. Baird lifted their target price on shares of Elastic from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Finally, Scotiabank decreased their target price on shares of Elastic from $140.00 to $137.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 27th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.09.

Insider Transactions at Elastic

In other news, CTO Shay Banon sold 140,129 shares of the firm’s 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 transaction, the chief technology officer now directly owns 2,254,978 shares in the company, valued at $240,561,053.04. This trade represents a 5.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the business’s stock in a transaction 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 $38,140,100.24. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 198,304 shares of company stock worth $20,847,452. 15.90% of the stock is currently owned by company insiders.

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.