Los Angeles Capital Management LLC Has $703,000 Stake in Elastic (NYSE:ESTC)

Los Angeles Capital Management LLC reduced its stake in shares of Elastic (NYSE:ESTC) by 8.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,095 shares of the company’s stock after selling 657 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Elastic were worth $703,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geneos Wealth Management Inc. acquired a new position in Elastic during the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC boosted 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 worth $27,000 after purchasing an additional 238 shares in the last quarter. Global Retirement Partners LLC boosted its position 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 worth $53,000 after purchasing an additional 490 shares in the last quarter. FNY Investment Advisers LLC grew its holdings in shares of Elastic by 87.3% in the 4th quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock valued at $74,000 after buying an additional 349 shares during the period. Finally, Stephens Consulting LLC bought a new stake in shares of Elastic in the 4th quarter valued at $198,000. 97.03% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total transaction of $758,678.04. Following the transaction, the chief executive officer now directly owns 395,326 shares of the company’s stock, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on ESTC. Baird R W raised Elastic from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Jefferies Financial Group increased their target price on Elastic from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. raised their target price on shares of Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Canaccord Genuity Group upped their price target on shares of Elastic from $130.00 to $135.00 and gave the company a “buy” rating in a report on Friday. Finally, Rosenblatt Securities reissued a “buy” rating and set a $130.00 price objective on shares of Elastic in a research report on Tuesday, February 25th. Seven research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.09.

Elastic Stock Performance

NYSE ESTC opened at $116.38 on Monday. The firm has a market capitalization of $12.06 billion, a P/E ratio of 211.61 and a beta of 1.07. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm’s fifty day moving average price is $106.11 and its two-hundred day moving average price is $95.45. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $368.85 million. As a group, research analysts anticipate that Elastic will post -0.77 EPS for the current year.

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.