Elastic (NYSE:ESTC) Shares Bought by Jackson Hole Capital Partners LLC

Jackson Hole Capital Partners LLC raised its position in Elastic (NYSE:ESTC) by 15.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,803 shares of the company’s stock after acquiring an additional 2,092 shares during the quarter. Jackson Hole Capital Partners LLC’s holdings in Elastic were worth $1,781,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ESTC. State of New Jersey Common Pension Fund D grew its position in shares of Elastic by 4.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 51,282 shares of the company’s stock worth $5,779,000 after buying an additional 2,357 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Elastic during the fourth quarter worth approximately $97,000. GAMMA Investing LLC acquired a new stake in shares of Elastic during the fourth quarter worth approximately $39,000. California Public Employees Retirement System grew its position in shares of Elastic by 15.4% during the fourth quarter. California Public Employees Retirement System now owns 131,731 shares of the company’s stock worth $14,846,000 after buying an additional 17,588 shares in the last quarter. Finally, Duality Advisers LP grew its position in shares of Elastic by 26.3% during the fourth quarter. Duality Advisers LP now owns 30,839 shares of the company’s stock worth $3,476,000 after buying an additional 6,421 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ESTC. Scotiabank decreased their price target on shares of Elastic from $185.00 to $154.00 and set a “sector outperform” rating for the company in a research report on Friday, March 1st. Rosenblatt Securities raised their price objective on Elastic from $105.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. The Goldman Sachs Group raised their price objective on Elastic from $93.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Citigroup reduced their price objective on Elastic from $165.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Finally, Truist Financial raised their price objective on Elastic from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $111.26.

Elastic Stock Performance

Shares of NYSE ESTC traded up $1.08 during midday trading on Thursday, reaching $104.79. 944,804 shares of the company traded hands, compared to its average volume of 1,377,015. Elastic has a 52 week low of $54.06 and a 52 week high of $136.06. The stock has a 50-day moving average price of $107.48 and a 200 day moving average price of $102.40. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.87 and a quick ratio of 1.87. The company has a market cap of $10.56 billion, a price-to-earnings ratio of 221.74 and a beta of 0.94.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.01. The firm had revenue of $327.96 million for the quarter, compared to analysts’ expectations of $320.48 million. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. Sell-side analysts anticipate that Elastic will post -1.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Elastic

In other Elastic news, CTO Shay Banon sold 1,322 shares of Elastic stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $106.23, for a total transaction of $140,436.06. Following the transaction, the chief technology officer now owns 4,518,714 shares of the company’s stock, valued at approximately $480,022,988.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Elastic news, CTO Shay Banon sold 1,322 shares of Elastic stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $106.23, for a total transaction of $140,436.06. Following the transaction, the chief technology officer now owns 4,518,714 shares of the company’s stock, valued at approximately $480,022,988.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ashutosh Kulkarni sold 15,778 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 value of $1,629,551.84. Following the transaction, the chief executive officer now directly owns 364,235 shares in the company, valued at approximately $37,618,190.80. The disclosure for this sale can be found here. Insiders have sold a total of 962,440 shares of company stock valued at $94,535,764 in the last 90 days. 18.10% of the stock is currently 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.