Planned Solutions Inc. Purchases Shares of 54,740 Elastic (NYSE:ESTC)

Planned Solutions Inc. purchased a new stake in shares of Elastic (NYSE:ESTC) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 54,740 shares of the company’s stock, valued at approximately $6,169,000. Elastic comprises about 2.9% of Planned Solutions Inc.’s investment portfolio, making the stock its 10th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Comerica Bank acquired a new stake in shares of Elastic during the second quarter worth $230,000. Covestor Ltd lifted its holdings in shares of Elastic by 168.3% during the third quarter. Covestor Ltd now owns 448 shares of the company’s stock worth $36,000 after buying an additional 281 shares in the last quarter. Quarry LP lifted its holdings in shares of Elastic by 79.6% during the first quarter. Quarry LP now owns 591 shares of the company’s stock worth $34,000 after buying an additional 262 shares in the last quarter. Activest Wealth Management bought a new position in shares of Elastic in the third quarter worth $50,000. Finally, Steward Partners Investment Advisory LLC raised its stake in Elastic by 50.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 707 shares of the company’s stock valued at $36,000 after purchasing an additional 238 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 $100.12 on Thursday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.80. Elastic has a twelve month low of $52.30 and a twelve month high of $136.06. The stock’s 50 day moving average is $117.15 and its 200-day moving average is $99.70. The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of 217.65 and a beta of 0.97.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.01. The business had revenue of $327.96 million during the quarter, compared to analyst estimates of $320.48 million. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. Sell-side analysts forecast that Elastic will post -1.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Piper Sandler boosted their price target on Elastic from $84.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, December 1st. Rosenblatt Securities boosted their target price on Elastic from $105.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Royal Bank of Canada boosted their target price on Elastic from $134.00 to $147.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Barclays lowered their target price on Elastic from $130.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, March 1st. Finally, Citigroup lowered their target price on Elastic from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $111.26.

Insider Activity at Elastic

In other news, CTO Shay Banon sold 1,322 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $106.23, for a total transaction of $140,436.06. Following the completion of the sale, the chief technology officer now directly owns 4,518,714 shares of the company’s stock, valued at approximately $480,022,988.22. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Ashutosh Kulkarni sold 15,778 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $103.28, for a total transaction of $1,629,551.84. Following the completion of the transaction, the chief executive officer now owns 364,235 shares in the company, valued at approximately $37,618,190.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 1,322 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $106.23, for a total value of $140,436.06. Following the transaction, the chief technology officer now owns 4,518,714 shares of the company’s stock, valued at approximately $480,022,988.22. The disclosure for this sale can be found here. In the last three months, insiders sold 147,248 shares of company stock valued at $15,021,473. 18.10% of the stock is owned by insiders.

Elastic Company 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.