Los Angeles Capital Management LLC Makes New $18.03 Million Investment in Elastic (NYSE:ESTC)

Los Angeles Capital Management LLC bought a new stake in Elastic (NYSE:ESTC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 159,953 shares of the company’s stock, valued at approximately $18,027,000.

Other large investors have also bought and sold shares of the company. New York Life Investment Management LLC lifted its position in shares of Elastic by 8.0% during the 4th quarter. New York Life Investment Management LLC now owns 8,956 shares of the company’s stock worth $1,009,000 after buying an additional 661 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Elastic by 24.1% during the fourth quarter. Victory Capital Management Inc. now owns 10,875 shares of the company’s stock worth $1,226,000 after acquiring an additional 2,114 shares during the period. Cypress Capital Management LLC WY purchased a new position in Elastic in the fourth quarter worth $45,000. Headlands Technologies LLC bought a new position in Elastic in the 4th quarter valued at $143,000. Finally, Semanteon Capital Management LP purchased a new stake in shares of Elastic during the 4th quarter valued at $636,000. 97.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Steven Schuurman sold 815,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the sale, the director now owns 8,382,000 shares in the company, valued at approximately $817,580,280. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Steven Schuurman sold 815,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total value of $79,495,100.00. Following the completion of the transaction, the director now directly owns 8,382,000 shares in the company, valued at approximately $817,580,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Shay Banon sold 1,322 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $106.23, for a total value of $140,436.06. Following the transaction, the chief technology officer now directly owns 4,518,714 shares in the company, valued at $480,022,988.22. The disclosure for this sale can be found here. Insiders sold a total of 962,440 shares of company stock valued at $94,535,764 in the last quarter. Corporate insiders own 18.10% of the company’s stock.

Analyst Ratings Changes

ESTC has been the topic of a number of research analyst reports. Citigroup cut their price target on shares of Elastic from $165.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Truist Financial lifted their price target on shares of Elastic from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Barclays reduced their price objective on Elastic from $130.00 to $128.00 and set an “equal weight” rating for the company in a report on Friday, March 1st. Royal Bank of Canada boosted their target price on Elastic from $134.00 to $147.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Finally, TheStreet upgraded Elastic from a “d+” rating to a “c-” rating in a research note on Wednesday, February 7th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $111.26.

Elastic Price Performance

NYSE:ESTC traded down $0.44 during trading hours on Friday, hitting $105.66. 690,290 shares of the company’s stock traded hands, compared to its average volume of 1,102,194. Elastic has a 52 week low of $54.54 and a 52 week high of $136.06. The business’s fifty day simple moving average is $104.26 and its two-hundred day simple moving average is $103.45. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.80. The firm has a market cap of $10.65 billion, a P/E ratio of 229.70 and a beta of 0.92.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.01. The firm had revenue of $327.96 million during the quarter, compared to the consensus estimate of $320.48 million. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. On average, research analysts anticipate that Elastic will post -1.13 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.