Raymond James & Associates Sells 4,584 Shares of Elastic (NYSE:ESTC)

Raymond James & Associates trimmed its position in shares of Elastic (NYSE:ESTCGet Rating) by 9.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 43,236 shares of the company’s stock after selling 4,584 shares during the period. Raymond James & Associates’ holdings in Elastic were worth $3,102,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Allworth Financial LP boosted its position in shares of Elastic by 94.4% in the 3rd quarter. Allworth Financial LP now owns 383 shares of the company’s stock worth $27,000 after purchasing an additional 186 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Elastic by 79.8% in the 2nd quarter. Quadrant Capital Group LLC now owns 446 shares of the company’s stock worth $30,000 after purchasing an additional 198 shares in the last quarter. CWM LLC boosted its position in shares of Elastic by 88.0% in the 2nd quarter. CWM LLC now owns 1,130 shares of the company’s stock worth $76,000 after purchasing an additional 529 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Elastic by 10.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,669 shares of the company’s stock worth $113,000 after purchasing an additional 152 shares in the last quarter. Finally, Garde Capital Inc. bought a new stake in shares of Elastic in the 2nd quarter worth approximately $119,000. 78.40% of the stock is owned by institutional investors.

Insider Transactions at Elastic

In other news, Director Jonathan Chadwick sold 6,250 shares of the company’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $65.26, for a total value of $407,875.00. Following the completion of the sale, the director now directly owns 7,729 shares in the company, valued at approximately $504,394.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Elastic news, insider Carolyn Herzog sold 1,324 shares of the stock in a transaction on Friday, December 9th. The stock was sold at an average price of $53.60, for a total value of $70,966.40. Following the completion of the sale, the insider now owns 90,148 shares in the company, valued at approximately $4,831,932.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan Chadwick sold 6,250 shares of the stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $65.26, for a total value of $407,875.00. Following the completion of the sale, the director now owns 7,729 shares of the company’s stock, valued at approximately $504,394.54. The disclosure for this sale can be found here. Insiders sold 17,194 shares of company stock worth $994,473 in the last three months. Corporate insiders own 18.80% of the company’s stock.

Elastic Price Performance

Shares of ESTC opened at $55.12 on Friday. The firm has a market cap of $5.27 billion, a PE ratio of -21.62 and a beta of 1.07. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.45. The firm has a fifty day simple moving average of $54.58 and a two-hundred day simple moving average of $67.72. Elastic has a 1-year low of $46.18 and a 1-year high of $98.75.

Elastic (NYSE:ESTCGet Rating) last posted its quarterly earnings data on Wednesday, November 30th. The company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.10. The firm had revenue of $264.40 million during the quarter, compared to analyst estimates of $261.25 million. Elastic had a negative return on equity of 53.77% and a negative net margin of 24.46%. On average, equities analysts anticipate that Elastic will post -1.91 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Piper Sandler dropped their price target on Elastic from $70.00 to $62.00 in a research report on Thursday, January 5th. Truist Financial lowered their price objective on Elastic from $85.00 to $75.00 in a research report on Monday, January 9th. Oppenheimer lowered their price objective on Elastic from $90.00 to $80.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 3rd. Citigroup lowered their price objective on Elastic from $136.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, December 6th. Finally, Canaccord Genuity Group lowered their price objective on Elastic from $82.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.73.

Elastic Company Profile

(Get Rating)

Elastic NV engages in the provision of open-source search and analytics engine services. It offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as perform search, analysis, and visualization. The firms Elastic Stack product comprises Elasticsearch, a distributed, real-time search and analytics engine, and data store for various types of data, including textual, numerical, geospatial, structured, and unstructured, Kibana, a user interface, management, and configuration interface for the Elastic Stack, Beats, a single-purpose data shippers for sending data from edge machines to Elasticsearch or Logstash, and Logstash, a data processing pipeline for ingesting data into Elasticsearch or other storage systems.

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Want to see what other hedge funds are holding ESTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elastic (NYSE:ESTCGet Rating).

Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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