Mariner LLC Buys 889 Shares of Elastic (NYSE:ESTC)

Mariner LLC lifted its stake in Elastic (NYSE:ESTC) by 16.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 6,249 shares of the company’s stock after purchasing an additional 889 shares during the quarter. Mariner LLC’s holdings in Elastic were worth $619,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. SBI Securities Co. Ltd. bought a new stake in shares of Elastic in the fourth quarter worth about $25,000. Geneos Wealth Management Inc. bought a new position in shares of Elastic during the 4th quarter valued at approximately $25,000. Venturi Wealth Management LLC grew 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 valued at $27,000 after purchasing an additional 238 shares in the last quarter. Smartleaf Asset Management LLC increased 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 purchasing an additional 158 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in Elastic by 1,065.2% during the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock valued at $53,000 after purchasing an additional 490 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Elastic Stock Performance

Shares of NYSE:ESTC opened at $86.05 on Thursday. 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 has a market capitalization of $8.98 billion, a price-to-earnings ratio of 156.45 and a beta of 1.19. The firm has a 50 day moving average of $90.17 and a 200 day moving average of $96.52. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share (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 firm had revenue of $382.08 million during the quarter, compared to analysts’ expectations of $368.85 million. On average, sell-side analysts predict that Elastic will post -0.77 earnings per share for the current fiscal year.

Insider Activity

In other news, CRO Mark Eugene Dodds sold 2,755 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 $250,071.35. Following the sale, the executive now owns 96,484 shares in the company, valued at approximately $8,757,852.68. The trade was a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Shay Banon sold 2,683 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.78, for a total transaction of $243,562.74. Following the transaction, the chief technology officer now owns 4,535,456 shares in the company, valued at approximately $411,728,695.68. This trade represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 198,304 shares of company stock worth $20,847,452. Insiders own 15.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ESTC. Truist Financial reduced their target price on shares of Elastic from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Guggenheim lifted their target price on Elastic from $130.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Robert W. Baird boosted their target price on Elastic from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Canaccord Genuity Group raised their price target on Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company boosted their price objective on shares of Elastic from $135.00 to $150.00 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.48.

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.