Quantbot Technologies LP Grows Stake in Elastic (NYSE:ESTC)

Quantbot Technologies LP lifted its holdings in shares of Elastic (NYSE:ESTC) by 82.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,510 shares of the company’s stock after acquiring an additional 19,238 shares during the quarter. Quantbot Technologies LP’s holdings in Elastic were worth $4,212,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ESTC. SBI Securities Co. Ltd. bought a new position in Elastic in the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. purchased a new stake in shares of Elastic in the fourth quarter valued at $25,000. Venturi Wealth Management LLC lifted its holdings in shares of 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 purchasing an additional 238 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after acquiring an additional 158 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of Elastic by 1,065.2% during the fourth 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. 97.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ESTC shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 price target on shares of Elastic in a research report on Tuesday, February 25th. Guggenheim increased their target price on shares of Elastic from $130.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Canaccord Genuity Group increased their target price on shares of Elastic from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Scotiabank restated an “outperform” rating on shares of Elastic in a research note on Friday, February 28th. Finally, Morgan Stanley raised their price target on shares of Elastic from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Seven 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 company. According to MarketBeat, Elastic currently has an average rating of “Moderate Buy” and an average price target of $131.52.

Insiders Place Their Bets

In other Elastic news, CTO Shay Banon sold 25,668 shares of the company’s stock in a transaction on Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the completion of the transaction, the chief technology officer now owns 2,408,541 shares in the company, valued at approximately $271,033,118.73. This represents a 1.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Mark Eugene Dodds sold 2,755 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $250,071.35. Following the transaction, the executive now directly owns 96,484 shares in the company, valued at approximately $8,757,852.68. This trade represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 193,304 shares of company stock valued at $20,334,252 over the last ninety days. Company insiders own 15.90% of the company’s stock.

Elastic Stock Performance

Shares of NYSE:ESTC opened at $96.96 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $10.12 billion, a price-to-earnings ratio of 176.29 and a beta of 1.20. The firm’s 50-day moving average is $105.33 and its 200 day moving average is $95.07. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96.

Elastic (NYSE:ESTC) last posted its quarterly 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 negative return on equity of 13.20% and a net margin of 4.39%. Research analysts predict that Elastic will post -0.77 EPS for the current year.

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.