Strategic Vision Investment Ltd Buys New Holdings in Elastic (NYSE:ESTC)

Strategic Vision Investment Ltd purchased a new position in shares of Elastic (NYSE:ESTC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,756 shares of the company’s stock, valued at approximately $2,565,000. Elastic comprises 2.3% of Strategic Vision Investment Ltd’s holdings, making the stock its 7th biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Elastic by 7.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,817 shares of the company’s stock valued at $4,375,000 after buying an additional 2,630 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Elastic by 11.4% in the fourth quarter. Mackenzie Financial Corp now owns 6,843 shares of the company’s stock valued at $771,000 after purchasing an additional 699 shares during the last quarter. Strs Ohio bought a new position in shares of Elastic during the fourth quarter worth approximately $640,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Elastic during the 4th quarter worth approximately $237,000. Finally, Aquila Investment Management LLC boosted its stake in Elastic by 18.8% in the 4th quarter. Aquila Investment Management LLC now owns 19,000 shares of the company’s stock valued at $2,141,000 after purchasing an additional 3,000 shares during the period. Institutional investors own 97.03% of the company’s stock.

Elastic Price Performance

ESTC traded up $0.33 on Wednesday, reaching $95.18. The stock had a trading volume of 1,195,660 shares, compared to its average volume of 1,000,316. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $9.59 billion, a price-to-earnings ratio of 206.93 and a beta of 0.94. Elastic has a fifty-two week low of $54.06 and a fifty-two week high of $136.06. The firm has a 50-day moving average of $110.85 and a 200-day moving average of $101.74.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.01. The company had revenue of $327.96 million during the quarter, compared to the consensus estimate of $320.48 million. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. As a group, sell-side analysts anticipate that Elastic will post -1.13 EPS for the current year.

Wall Street Analyst Weigh In

ESTC has been the topic of several recent research reports. Oppenheimer increased their price objective on Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Citigroup dropped their price objective on shares of Elastic from $165.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Barclays decreased their target price on shares of Elastic from $130.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Friday, March 1st. The Goldman Sachs Group raised their price target on Elastic from $93.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Finally, Royal Bank of Canada upped their price objective on shares of Elastic from $134.00 to $147.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Elastic has an average rating of “Moderate Buy” and an average target price of $111.26.

Insider Buying and Selling at Elastic

In related news, CEO Ashutosh Kulkarni sold 15,778 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $103.28, for a total value of $1,629,551.84. Following the sale, the chief executive officer now owns 364,235 shares of the company’s stock, valued at $37,618,190.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Elastic news, insider Carolyn Herzog sold 2,591 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $103.28, for a total transaction of $267,598.48. Following the completion of the transaction, the insider now owns 87,799 shares in the company, valued at approximately $9,067,880.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ashutosh Kulkarni sold 15,778 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $103.28, for a total transaction of $1,629,551.84. Following the completion of the sale, the chief executive officer now directly owns 364,235 shares in the company, valued at $37,618,190.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 962,440 shares of company stock worth $94,535,764. 18.10% of the stock is currently owned by company insiders.

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.