ArrowMark Colorado Holdings LLC Trims Holdings in Elastic (NYSE:ESTC)

ArrowMark Colorado Holdings LLC cut its position in shares of Elastic (NYSE:ESTC) by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 319,684 shares of the company’s stock after selling 9,542 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 0.31% of Elastic worth $24,539,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ESTC. Cetera Advisors LLC acquired a new position in Elastic during the first quarter worth approximately $435,000. DekaBank Deutsche Girozentrale acquired a new stake in Elastic during the first quarter worth about $1,823,000. Lynx Investment Advisory purchased a new position in shares of Elastic in the 2nd quarter worth about $43,000. CWM LLC lifted its stake in shares of Elastic by 16.5% in the 2nd quarter. CWM LLC now owns 25,929 shares of the company’s stock valued at $2,954,000 after purchasing an additional 3,671 shares in the last quarter. Finally, Blue Zone Wealth Advisors LLC increased its position in Elastic by 3.8% during the 2nd quarter. Blue Zone Wealth Advisors LLC now owns 28,542 shares of the company’s stock worth $3,251,000 after purchasing an additional 1,054 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Insider Activity

In related news, CTO Shay Banon sold 2,666 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $187,286.50. Following the transaction, the chief technology officer now directly owns 4,543,190 shares of the company’s stock, valued at approximately $319,159,097.50. The trade was a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Carolyn Herzog sold 11,145 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total value of $1,240,884.30. Following the sale, the insider now owns 92,011 shares of the company’s stock, valued at $10,244,504.74. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 198,551 shares of company stock worth $20,506,656. Insiders own 15.90% of the company’s stock.

Elastic Trading Down 0.6 %

Elastic stock opened at $109.46 on Monday. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The stock has a market capitalization of $11.34 billion, a PE ratio of 199.02 and a beta of 0.94. The firm has a 50 day simple moving average of $85.26 and a 200-day simple moving average of $97.01. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.91.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.25 by $0.10. The firm had revenue of $347.42 million for the quarter, compared to analysts’ expectations of $344.67 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. Elastic’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.35) earnings per share. As a group, equities research analysts expect that Elastic will post -0.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Oppenheimer upped their price target on Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Robert W. Baird raised shares of Elastic from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $95.00 to $135.00 in a research report on Friday, November 22nd. Canaccord Genuity Group raised their price target on shares of Elastic from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Elastic presently has a consensus rating of “Moderate Buy” and an average price target of $126.33.

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.