Fox Run Management L.L.C. Boosts Holdings in Elastic (NYSE:ESTC)

Fox Run Management L.L.C. boosted its holdings in Elastic (NYSE:ESTC) by 68.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,688 shares of the company’s stock after purchasing an additional 6,362 shares during the quarter. Fox Run Management L.L.C.’s holdings in Elastic were worth $1,554,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Slow Capital Inc. purchased a new position in shares of Elastic in the fourth quarter worth $5,039,000. Wealth Effects LLC increased its holdings in Elastic by 25.4% in the 4th quarter. Wealth Effects LLC now owns 28,800 shares of the company’s stock valued at $2,854,000 after acquiring an additional 5,830 shares during the last quarter. Blueshift Asset Management LLC bought a new position in shares of Elastic during the 3rd quarter valued at about $585,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Elastic by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock valued at $41,901,000 after purchasing an additional 14,590 shares during the last quarter. Finally, Bangor Savings Bank bought a new position in shares of Elastic during the 4th quarter valued at about $1,657,000. 97.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ESTC shares. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 target price on shares of Elastic in a research report on Tuesday, February 25th. Robert W. Baird boosted their price target on shares of Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Guggenheim lifted their price objective on shares of Elastic from $130.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. The Goldman Sachs Group boosted their target price on shares of Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Elastic from $100.00 to $130.00 and gave the company an “overweight” rating 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.52.

Insider Activity

In related news, CTO Shay Banon sold 140,129 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the completion of the sale, the chief technology officer now directly owns 2,254,978 shares in the company, valued at $240,561,053.04. This represents a 5.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Carolyn Herzog sold 3,334 shares of the firm’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 $302,660.52. Following the sale, the insider now directly owns 84,152 shares in the company, valued at approximately $7,639,318.56. The trade was a 3.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 193,304 shares of company stock worth $20,334,252. Corporate insiders own 15.90% of the company’s stock.

Elastic Stock Up 2.3 %

Shares of NYSE ESTC opened at $96.96 on Friday. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96. The firm has a market capitalization of $10.12 billion, a price-to-earnings ratio of 176.29 and a beta of 1.20. The stock has a 50 day moving average price of $105.33 and a 200 day moving average price of $95.07. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99.

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

About Elastic

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.