Thematics Asset Management Sells 43,000 Shares of Elastic (NYSE:ESTC)

Thematics Asset Management lowered its position in shares of Elastic (NYSE:ESTC) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 401,012 shares of the company’s stock after selling 43,000 shares during the quarter. Elastic makes up about 1.7% of Thematics Asset Management’s holdings, making the stock its 10th largest holding. Thematics Asset Management owned 0.39% of Elastic worth $39,732,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ESTC. Geneos Wealth Management Inc. acquired a new stake in Elastic in the 4th quarter valued at about $25,000. SBI Securities Co. Ltd. purchased a new position in Elastic during the fourth quarter worth approximately $25,000. Venturi Wealth Management LLC boosted its stake in Elastic by 793.3% during the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after buying an additional 238 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in 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 buying an additional 158 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in Elastic by 1,065.2% in the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock valued at $53,000 after buying an additional 490 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Insider Activity

In other news, CTO Shay Banon sold 2,683 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.78, for a total value of $243,562.74. Following the completion of the sale, the chief technology officer now directly owns 4,535,456 shares of the company’s stock, valued at approximately $411,728,695.68. This represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total transaction of $513,200.00. Following the sale, the chief executive officer now owns 371,591 shares of the company’s stock, valued at $38,140,100.24. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 198,304 shares of company stock valued at $20,847,452. Insiders own 15.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. DA Davidson lowered their price target on shares of Elastic from $115.00 to $75.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. UBS Group increased their price target on shares of Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Cantor Fitzgerald initiated coverage on shares of Elastic in a research report on Friday, January 17th. They set a “neutral” rating and a $108.00 price target on the stock. Jefferies Financial Group decreased their price objective on Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Finally, Wells Fargo & Company raised their target price on Elastic from $135.00 to $150.00 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 assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $127.48.

Elastic Stock Down 1.3 %

Shares of NYSE ESTC opened at $77.79 on Friday. The business has a 50-day moving average of $95.22 and a two-hundred day moving average of $96.51. The company has a market capitalization of $8.12 billion, a price-to-earnings ratio of 141.44 and a beta of 1.19. Elastic has a 1 year low of $69.00 and a 1 year 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.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.48). The business 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%. On average, analysts forecast that Elastic will post -0.77 earnings per share for the current fiscal 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.