Victory Capital Management Inc. Sells 4,662 Shares of Elastic (NYSE:ESTC)

Victory Capital Management Inc. cut its holdings in shares of Elastic (NYSE:ESTC) by 30.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,637 shares of the company’s stock after selling 4,662 shares during the period. Victory Capital Management Inc.’s holdings in Elastic were worth $1,054,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. bought a new position in shares of Elastic during the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. bought a new position in shares of Elastic during the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC boosted its stake in shares of Elastic by 793.3% during 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 boosted its stake in Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after acquiring an additional 158 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its stake in Elastic by 1,065.2% in the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock valued at $53,000 after acquiring an additional 490 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Elastic

In other Elastic news, insider Carolyn Herzog sold 3,334 shares of Elastic stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.78, for a total value of $302,660.52. Following the completion of the transaction, the insider now owns 84,152 shares of the company’s stock, valued at approximately $7,639,318.56. The trade was a 3.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Shay Banon sold 140,129 shares of Elastic stock in a transaction on Tuesday, March 4th. The shares were 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 of the company’s stock, valued at $240,561,053.04. The trade was a 5.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 193,304 shares of company stock valued at $20,334,252. Corporate insiders own 15.90% of the company’s stock.

Analyst Ratings Changes

ESTC has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on shares of Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Piper Sandler raised their target price on shares of Elastic from $130.00 to $135.00 and gave the company an “overweight” 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. Rosenblatt Securities restated a “buy” rating and issued a $130.00 target price on shares of Elastic in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. raised their target price on shares of Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Seven 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $131.52.

Elastic Trading Down 0.6 %

Shares of Elastic stock opened at $94.78 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a fifty day moving average price of $105.34 and a 200 day moving average price of $94.92. Elastic has a 1 year low of $69.00 and a 1 year high of $123.96. The stock has a market cap of $9.90 billion, a PE ratio of 172.32 and a beta of 1.20.

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