AXQ Capital LP Has $886,000 Stock Position in Elastic (NYSE:ESTC)

AXQ Capital LP increased its stake in Elastic (NYSE:ESTC) by 194.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,947 shares of the company’s stock after buying an additional 5,913 shares during the period. AXQ Capital LP’s holdings in Elastic were worth $886,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. bought a new stake in shares of Elastic during the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. purchased a new position in shares of Elastic in the fourth quarter valued at about $25,000. Venturi Wealth Management LLC increased its position in shares of Elastic by 793.3% during the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after buying an additional 238 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after purchasing an additional 158 shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in shares of 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 owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ESTC shares. Scotiabank restated an “outperform” rating on shares of Elastic in a report on Friday, February 28th. Barclays upped their target price on Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Oppenheimer upped their target price on Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 target price on shares of Elastic in a research note on Tuesday, February 25th. Finally, Needham & Company LLC restated a “hold” rating on shares of Elastic in a report on Friday, November 22nd. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.52.

Elastic Trading Up 2.3 %

NYSE ESTC opened at $96.96 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. Elastic has a one year low of $69.00 and a one year high of $123.96. The business has a 50 day simple moving average of $105.33 and a 200 day simple moving average of $95.07. The stock has a market capitalization of $10.12 billion, a P/E ratio of 176.29 and a beta of 1.20.

Elastic (NYSE:ESTC) last announced its 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 net margin of 4.39% and a negative return on equity of 13.20%. The firm had revenue of $382.08 million during the quarter, compared to analysts’ expectations of $368.85 million. Research analysts expect that Elastic will post -0.77 earnings per share for the current year.

Insider Buying and Selling at Elastic

In other news, CEO Ashutosh Kulkarni sold 18,735 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $1,700,575.95. Following the completion of the sale, the chief executive officer now directly owns 376,591 shares in the company, valued at $34,183,165.07. This represents a 4.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Shay Banon sold 25,668 shares of the firm’s stock in a transaction that occurred on Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total value of $2,888,420.04. Following the transaction, the chief technology officer now owns 2,408,541 shares of the company’s stock, valued at $271,033,118.73. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 193,304 shares of company stock worth $20,334,252 over the last three months. 15.90% of the stock is owned by insiders.

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.