Raymond James Financial Inc. Acquires Shares of 30,467 Elastic (NYSE:ESTC)

Raymond James Financial Inc. bought a new position in shares of Elastic (NYSE:ESTC) during the 4th quarter, HoldingsChannel reports. The fund bought 30,467 shares of the company’s stock, valued at approximately $3,019,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. M&T Bank Corp boosted its holdings in shares of Elastic by 3.1% in the 3rd quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock valued at $357,000 after purchasing an additional 139 shares in the last quarter. Sigma Planning Corp boosted its stake in Elastic by 3.7% in the fourth quarter. Sigma Planning Corp now owns 3,929 shares of the company’s stock valued at $389,000 after buying an additional 139 shares in the last quarter. CIBC Asset Management Inc grew its position in Elastic by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,053 shares of the company’s stock valued at $302,000 after acquiring an additional 151 shares during the last quarter. Smartleaf Asset Management LLC grew its position 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 during the last quarter. Finally, Van ECK Associates Corp raised its stake in Elastic by 0.7% during the fourth quarter. Van ECK Associates Corp now owns 32,954 shares of the company’s stock worth $3,265,000 after acquiring an additional 220 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Price Performance

Shares of NYSE:ESTC opened at $91.55 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 stock has a market cap of $9.56 billion, a PE ratio of 166.46 and a beta of 1.20. The stock’s fifty day simple moving average is $105.25 and its two-hundred day simple moving average is $95.97. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96.

Elastic (NYSE:ESTC) last released 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 net margin of 4.39% and a negative return on equity of 13.20%. The business had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. As a group, analysts forecast that Elastic will post -0.77 EPS for the current fiscal year.

Insider Buying and Selling at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 18,735 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 transaction of $1,700,575.95. Following the completion of the transaction, the chief executive officer now owns 376,591 shares of the company’s stock, valued at $34,183,165.07. The trade was a 4.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 completion of the transaction, the executive now directly owns 96,484 shares in the company, valued at approximately $8,757,852.68. The trade was a 2.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,304 shares of company stock valued at $20,847,452. Company insiders own 15.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. UBS Group raised 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. Canaccord Genuity Group boosted their price objective on Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 target price on shares of Elastic in a research report on Tuesday, February 25th. Wells Fargo & Company raised their price objective on shares of Elastic from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, Truist Financial boosted their target price on shares of Elastic from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Seven investment 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, Elastic has a consensus rating of “Moderate Buy” and an average price target of $131.39.

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.