M&T Bank Corp Sells 1,107 Shares of Elastic (NYSE:ESTC)

M&T Bank Corp reduced its holdings in shares of Elastic (NYSE:ESTC) by 23.8% during the fourth quarter, HoldingsChannel reports. The firm owned 3,545 shares of the company’s stock after selling 1,107 shares during the period. M&T Bank Corp’s holdings in Elastic were worth $352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. purchased a new stake in shares of Elastic during the 4th quarter valued at about $25,000. SBI Securities Co. Ltd. purchased a new position in shares of Elastic in the fourth quarter worth approximately $25,000. Venturi Wealth Management LLC boosted its holdings in shares of Elastic by 793.3% in the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after buying an additional 238 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after acquiring an additional 158 shares during the period. Finally, Global Retirement Partners LLC boosted its stake 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 worth $53,000 after acquiring an additional 490 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ESTC has been the subject of several analyst reports. The Goldman Sachs Group upped their price objective on Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Barclays upped their price objective on Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Cantor Fitzgerald initiated coverage on Elastic in a research note on Friday, January 17th. They issued a “neutral” rating and a $108.00 price objective for the company. UBS Group upped their price objective on Elastic from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Guggenheim upped their price objective on Elastic from $130.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.52.

Insider Transactions at Elastic

In other news, CTO Shay Banon sold 2,683 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.78, for a total value of $243,562.74. Following the sale, the chief technology officer now directly owns 4,535,456 shares in the company, valued at $411,728,695.68. The trade was a 0.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the completion of the sale, the chief executive officer now owns 376,591 shares in the company, valued at approximately $34,183,165.07. This trade represents a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 200,321 shares of company stock worth $21,092,930 in the last three months. Insiders own 15.90% of the company’s stock.

Elastic Stock Up 3.6 %

Shares of ESTC stock opened at $95.00 on Friday. The stock has a market cap of $9.92 billion, a P/E ratio of 172.73 and a beta of 1.20. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The company’s fifty day simple moving average is $105.80 and its two-hundred day simple moving average is $95.07.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.47 by ($0.48). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The company had revenue of $382.08 million during the quarter, compared to analysts’ expectations of $368.85 million. Analysts predict that Elastic will post -0.77 EPS for the current fiscal year.

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.