Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in Elastic (NYSE:ESTC)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Elastic (NYSE:ESTC) by 8.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 38,955 shares of the company’s stock after buying an additional 2,977 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Elastic were worth $3,860,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Elastic during the 4th quarter valued at $25,000. Geneos Wealth Management Inc. bought a new position in shares of Elastic during the 4th quarter valued at $25,000. Venturi Wealth Management LLC grew its holdings in shares of Elastic by 793.3% during the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Elastic by 126.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after purchasing an additional 158 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of Elastic by 1,065.2% during the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock valued at $53,000 after purchasing an additional 490 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Trading Up 3.6 %

Shares of NYSE ESTC opened at $95.00 on Friday. Elastic has a 1 year low of $69.00 and a 1 year high of $123.96. The stock has a market cap of $9.92 billion, a P/E ratio of 172.73 and a beta of 1.20. The firm has a 50-day moving average of $105.68 and a 200 day moving average of $94.91. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99.

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). The firm had revenue of $382.08 million during the quarter, compared to analysts’ expectations of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. As a group, sell-side analysts expect that Elastic will post -0.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on ESTC. DA Davidson increased their target price on shares of Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Guggenheim raised their price target on shares of Elastic from $130.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Piper Sandler raised their price target on shares of Elastic from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Jefferies Financial Group raised their price target on shares of Elastic from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Bank of America raised their price target on shares of Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Elastic has an average rating of “Moderate Buy” and a consensus target price of $131.52.

Insiders Place Their Bets

In other news, CEO Ashutosh Kulkarni sold 7,017 shares of Elastic stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total value of $758,678.04. Following the completion of the sale, the chief executive officer now directly owns 395,326 shares in the company, valued at $42,742,647.12. The trade was a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Mark Eugene Dodds sold 2,755 shares of Elastic stock in a transaction that occurred 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 sale, the executive now owns 96,484 shares of the company’s stock, valued at $8,757,852.68. This represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 200,321 shares of company stock valued at $21,092,930. Insiders own 15.90% of the company’s stock.

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.