US Bancorp DE Purchases 418 Shares of Elastic (NYSE:ESTC)

US Bancorp DE lifted its position in shares of Elastic (NYSE:ESTCGet Rating) by 4.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,677 shares of the company’s stock after acquiring an additional 418 shares during the period. US Bancorp DE’s holdings in Elastic were worth $693,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP increased its position in shares of Elastic by 94.4% during the third quarter. Allworth Financial LP now owns 383 shares of the company’s stock valued at $27,000 after acquiring an additional 186 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Elastic by 79.8% during the second quarter. Quadrant Capital Group LLC now owns 446 shares of the company’s stock valued at $30,000 after acquiring an additional 198 shares in the last quarter. Wipfli Financial Advisors LLC bought a new stake in shares of Elastic during the third quarter valued at approximately $47,000. CWM LLC boosted its holdings in Elastic by 88.0% in the second quarter. CWM LLC now owns 1,130 shares of the company’s stock worth $76,000 after purchasing an additional 529 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in Elastic by 51.1% in the first quarter. Advisors Asset Management Inc. now owns 1,517 shares of the company’s stock worth $135,000 after purchasing an additional 513 shares during the last quarter. Institutional investors own 78.40% of the company’s stock.

Elastic Stock Up 8.4 %

ESTC opened at $55.12 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.91 and a current ratio of 1.91. Elastic has a fifty-two week low of $46.18 and a fifty-two week high of $98.75. The firm’s fifty day moving average is $54.58 and its 200 day moving average is $67.72. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of -21.62 and a beta of 1.07.

Elastic (NYSE:ESTCGet Rating) last released its earnings results on Wednesday, November 30th. The company reported ($0.50) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.10. Elastic had a negative net margin of 24.46% and a negative return on equity of 53.77%. The company had revenue of $264.40 million for the quarter, compared to analysts’ expectations of $261.25 million. On average, sell-side analysts forecast that Elastic will post -1.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ESTC shares. Oppenheimer dropped their target price on shares of Elastic from $90.00 to $80.00 and set an “outperform” rating on the stock in a report on Tuesday, January 3rd. Barclays dropped their target price on shares of Elastic from $77.00 to $62.00 and set an “overweight” rating on the stock in a report on Tuesday, January 10th. Truist Financial dropped their target price on shares of Elastic from $85.00 to $75.00 in a report on Monday, January 9th. Rosenblatt Securities dropped their target price on shares of Elastic to $96.00 in a report on Friday, December 2nd. Finally, Wedbush started coverage on shares of Elastic in a report on Wednesday, December 14th. They issued a “neutral” rating and a $67.00 target price on the stock. One investment 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.73.

Insider Activity at Elastic

In related news, Director Jonathan Chadwick sold 6,250 shares of Elastic stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $65.26, for a total transaction of $407,875.00. Following the transaction, the director now owns 7,729 shares in the company, valued at approximately $504,394.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Elastic news, Director Jonathan Chadwick sold 6,250 shares of Elastic stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $65.26, for a total value of $407,875.00. Following the sale, the director now directly owns 7,729 shares in the company, valued at approximately $504,394.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Janesh Moorjani sold 3,975 shares of Elastic stock in a transaction on Friday, December 9th. The shares were sold at an average price of $53.60, for a total transaction of $213,060.00. Following the completion of the sale, the chief financial officer now owns 182,191 shares in the company, valued at $9,765,437.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,194 shares of company stock worth $994,473. 18.80% of the stock is owned by corporate insiders.

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.

Further Reading

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Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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