Panagora Asset Management Inc. Takes Position in Elastic (NYSE:ESTC)

Panagora Asset Management Inc. acquired a new stake in Elastic (NYSE:ESTCFree Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 83,810 shares of the company’s stock, valued at approximately $6,809,000.

Several other hedge funds and other institutional investors have also modified their holdings of ESTC. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Elastic by 17.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,780 shares of the company’s stock valued at $514,000 after purchasing an additional 848 shares in the last quarter. HighTower Advisors LLC lifted its position in Elastic by 9.5% during the 1st quarter. HighTower Advisors LLC now owns 6,472 shares of the company’s stock worth $576,000 after acquiring an additional 564 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Elastic during the 1st quarter worth approximately $295,000. Rhumbline Advisers lifted its position in Elastic by 3.2% during the 1st quarter. Rhumbline Advisers now owns 72,555 shares of the company’s stock worth $6,454,000 after acquiring an additional 2,274 shares in the last quarter. Finally, BlackRock Inc. lifted its position in Elastic by 4.8% during the 1st quarter. BlackRock Inc. now owns 5,616,149 shares of the company’s stock worth $499,557,000 after acquiring an additional 259,742 shares in the last quarter. 74.66% of the stock is owned by institutional investors and hedge funds.

Elastic Price Performance

Shares of ESTC opened at $116.18 on Thursday. The stock has a fifty day moving average price of $100.79 and a 200 day moving average price of $81.46. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.89 and a current ratio of 1.89. Elastic has a 12 month low of $49.02 and a 12 month high of $118.24.

Elastic (NYSE:ESTCGet Free Report) last announced its quarterly earnings results on Thursday, November 30th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.13. Elastic had a negative return on equity of 30.65% and a negative net margin of 16.62%. The company had revenue of $311.00 million during the quarter, compared to analyst estimates of $304.44 million. During the same quarter in the previous year, the firm posted ($0.50) EPS. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Elastic will post -1.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on ESTC. Robert W. Baird boosted their price target on Elastic from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, September 29th. Oppenheimer lifted their price objective on Elastic from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, December 1st. Needham & Company LLC initiated coverage on Elastic in a report on Thursday, October 12th. They set a “hold” rating on the stock. Royal Bank of Canada lifted their price objective on Elastic from $87.00 to $107.00 and gave the stock an “outperform” rating in a report on Friday, December 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Elastic from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, December 1st. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Elastic presently has an average rating of “Moderate Buy” and an average price target of $94.61.

Get Our Latest Stock Report on Elastic

Insiders Place Their Bets

In other Elastic news, CFO Janesh Moorjani sold 6,930 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $114.97, for a total transaction of $796,742.10. Following the completion of the transaction, the chief financial officer now owns 162,312 shares in the company, valued at approximately $18,661,010.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Carolyn Herzog sold 20,234 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $115.49, for a total value of $2,336,824.66. Following the completion of the sale, the insider now owns 90,390 shares in the company, valued at $10,439,141.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Janesh Moorjani sold 6,930 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $114.97, for a total value of $796,742.10. Following the completion of the sale, the chief financial officer now owns 162,312 shares of the company’s stock, valued at approximately $18,661,010.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,867 shares of company stock worth $14,928,615. 18.10% of the stock is owned by company insiders.

About Elastic

(Free Report)

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.

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Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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