By otakuyassine3@gmail.com 
M&T Bank Corp lowered its stake in Elastic (NYSE:ESTC – Free Report) by 23.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,545 shares of the company’s stock after selling 1,107 shares during the quarter. M&T Bank Corp’s holdings in Elastic were worth $352,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in the stock. Assetmark Inc. boosted its stake in Elastic by 4.2% in the 4th quarter. Assetmark Inc. now owns 8,234 shares of the company’s stock worth $816,000 after purchasing an additional 329 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Elastic by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 563,085 shares of the company’s stock worth $55,790,000 after purchasing an additional 17,215 shares during the period. SBI Securities Co. Ltd. bought a new position in Elastic in the 4th quarter worth about $25,000. Jones Financial Companies Lllp boosted its stake in Elastic by 759.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,049 shares of the company’s stock worth $104,000 after purchasing an additional 927 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after purchasing an additional 158 shares during the period. Institutional investors own 97.03% of the company’s stock.
Elastic Price Performance
Shares of Elastic stock opened at $95.00 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The business’s 50 day simple moving average is $105.80 and its two-hundred day simple moving average is $95.07. The stock has a market capitalization of $9.92 billion, a P/E ratio of 172.73 and a beta of 1.20. Elastic has a one year low of $69.00 and a one year high of $123.96.
Elastic (NYSE:ESTC – Get Free Report) last posted 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). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The business had revenue of $382.08 million for the quarter, compared to analysts’ expectations of $368.85 million. Analysts forecast that Elastic will post -0.77 EPS for the current year.
Insider Activity at Elastic
In other Elastic news, CRO Mark Eugene Dodds sold 2,755 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $250,071.35. Following the sale, the executive now directly owns 96,484 shares of the company’s stock, valued at approximately $8,757,852.68. The trade was a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Shay Banon sold 25,668 shares of the business’s stock in a transaction on Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total value of $2,888,420.04. Following the completion of the sale, the chief technology officer now directly owns 2,408,541 shares in the company, valued at $271,033,118.73. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 200,321 shares of company stock worth $21,092,930 over the last ninety days. 15.90% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of analysts have recently issued reports on ESTC shares. Stifel Nicolaus lifted their price target on Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Robert W. Baird lifted their price target on Elastic from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. DA Davidson lifted their price target on Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Truist Financial lifted their price target on Elastic from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Finally, Morgan Stanley lifted their price target on Elastic from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Elastic currently has an average rating of “Moderate Buy” and an average price target of $131.52.
Check Out Our Latest Analysis on Elastic
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.
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