J. Safra Sarasin Holding AG Increases Stock Holdings in Elastic (NYSE:ESTC)

J. Safra Sarasin Holding AG raised its holdings in shares of Elastic (NYSE:ESTC) by 19.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 127,874 shares of the company’s stock after purchasing an additional 20,973 shares during the period. J. Safra Sarasin Holding AG’s holdings in Elastic were worth $12,670,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Elastic during the 4th quarter worth approximately $102,485,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Elastic by 5,972.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company’s stock worth $73,751,000 after acquiring an additional 732,100 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Elastic by 554.9% during the fourth quarter. Marshall Wace LLP now owns 641,041 shares of the company’s stock valued at $63,514,000 after acquiring an additional 543,155 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of Elastic by 15.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company’s stock valued at $339,820,000 after acquiring an additional 462,974 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Elastic by 592.1% in the 4th quarter. American Century Companies Inc. now owns 366,103 shares of the company’s stock valued at $36,274,000 after purchasing an additional 313,207 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ESTC shares. Guggenheim lifted their price target on shares of Elastic from $130.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Canaccord Genuity Group boosted their price target on Elastic from $130.00 to $135.00 and gave the company a “buy” rating in a report on Friday, February 28th. DA Davidson lowered their price objective on Elastic from $115.00 to $75.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Wells Fargo & Company upped their target price on Elastic from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Finally, Truist Financial decreased their price target on Elastic from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $127.48.

Elastic Trading Down 1.3 %

Shares of Elastic stock opened at $77.79 on Monday. The business has a fifty day simple moving average of $95.22 and a 200-day simple moving average of $96.65. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96. The firm has a market cap of $8.12 billion, a price-to-earnings ratio of 141.44 and a beta of 1.19. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.

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%. On average, equities analysts forecast that Elastic will post -0.77 EPS for the current fiscal year.

Insider Activity

In related news, CRO Mark Eugene Dodds sold 2,755 shares of Elastic stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $250,071.35. Following the completion of the transaction, the executive now directly owns 96,484 shares of the company’s stock, valued at $8,757,852.68. The trade was a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Shay Banon sold 140,129 shares of the stock in a transaction dated 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 sale, the chief technology officer now directly owns 2,254,978 shares in the company, valued at approximately $240,561,053.04. This represents a 5.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 198,304 shares of company stock worth $20,847,452. Company insiders own 15.90% of the company’s stock.

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.