Trexquant Investment LP Has $25.01 Million Stake in Elastic (NYSE:ESTC)

Trexquant Investment LP boosted its holdings in Elastic (NYSE:ESTC) by 461.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 252,434 shares of the company’s stock after purchasing an additional 207,452 shares during the quarter. Trexquant Investment LP’s holdings in Elastic were worth $25,011,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Geneos Wealth Management Inc. bought a new position in shares of Elastic in the fourth quarter valued at $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Elastic in the 4th quarter worth about $25,000. Venturi Wealth Management LLC lifted its position in Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after acquiring an additional 238 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Elastic by 126.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after purchasing an additional 158 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its stake in Elastic by 1,065.2% during the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock valued at $53,000 after purchasing an additional 490 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ESTC. Canaccord Genuity Group increased their price objective on Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Morgan Stanley increased their price target on Elastic from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Scotiabank cut their price objective on shares of Elastic from $140.00 to $137.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 27th. Truist Financial lowered their target price on shares of Elastic from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday. Finally, Wedbush cut shares of Elastic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $130.74.

Insider Buying and Selling

In related news, CTO Shay Banon sold 25,668 shares of the business’s stock in a transaction that occurred on Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total value of $2,888,420.04. Following the completion of the sale, the chief technology officer now owns 2,408,541 shares in the company, valued at $271,033,118.73. The trade was a 1.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $34,183,165.07. This represents a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 198,304 shares of company stock worth $20,847,452 over the last ninety days. 15.90% of the stock is owned by corporate insiders.

Elastic Price Performance

ESTC stock opened at $89.12 on Tuesday. The firm has a 50 day moving average of $105.03 and a 200-day moving average of $96.39. The firm has a market capitalization of $9.31 billion, a P/E ratio of 162.04 and a beta of 1.20. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70.

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). The firm had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. As a group, sell-side analysts predict that Elastic will post -0.77 earnings per share for the current fiscal 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.