Elastic (NYSE:ESTC) Holdings Raised by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its stake in shares of Elastic (NYSE:ESTC) by 15.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,429,756 shares of the company’s stock after acquiring an additional 462,974 shares during the period. Pictet Asset Management Holding SA’s holdings in Elastic were worth $339,820,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Slow Capital Inc. purchased a new position in Elastic in the fourth quarter valued at about $5,039,000. Wealth Effects LLC lifted its holdings in shares of Elastic by 25.4% during the 4th quarter. Wealth Effects LLC now owns 28,800 shares of the company’s stock valued at $2,854,000 after buying an additional 5,830 shares during the last quarter. Blueshift Asset Management LLC bought a new stake in shares of Elastic in the 3rd quarter valued at approximately $585,000. Charles Schwab Investment Management Inc. increased its holdings in Elastic by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock worth $41,901,000 after buying an additional 14,590 shares during the last quarter. Finally, Bangor Savings Bank bought a new position in Elastic during the fourth quarter valued at approximately $1,657,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Elastic Stock Down 4.4 %

Shares of ESTC opened at $94.96 on Friday. The company has a market capitalization of $9.91 billion, a P/E ratio of 172.65 and a beta of 1.20. Elastic has a one year low of $69.00 and a one year high of $123.96. The business’s 50 day simple moving average is $105.43 and its 200-day simple moving average is $95.83. 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 posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The business had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. As a group, sell-side analysts predict that Elastic will post -0.77 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on ESTC shares. Morgan Stanley increased their price target on shares of Elastic from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Wedbush downgraded shares of Elastic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Cantor Fitzgerald initiated coverage on Elastic in a report on Friday, January 17th. They set a “neutral” rating and a $108.00 target price on the stock. UBS Group upped their price target on Elastic from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Canaccord Genuity Group raised their price objective on Elastic from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Seven investment 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 company. According to data from MarketBeat, Elastic has a consensus rating of “Moderate Buy” and an average price target of $131.39.

Insiders Place Their Bets

In related news, CTO Shay Banon sold 2,683 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.78, for a total value of $243,562.74. Following the transaction, the chief technology officer now owns 4,535,456 shares in the company, valued at $411,728,695.68. This trade represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total transaction of $513,200.00. Following the completion of the transaction, the chief executive officer now owns 371,591 shares in the company, valued at $38,140,100.24. This represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 198,304 shares of company stock valued at $20,847,452 in the last 90 days. 15.90% of the stock is currently 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.