Swiss National Bank Has $17.02 Million Stock Holdings in Elastic (NYSE:ESTC)

Swiss National Bank raised its holdings in Elastic (NYSE:ESTC) by 1.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 171,800 shares of the company’s stock after acquiring an additional 3,000 shares during the quarter. Swiss National Bank’s holdings in Elastic were worth $17,022,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ESTC. Geneos Wealth Management Inc. acquired a new stake in Elastic in the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new stake in Elastic in the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC lifted its stake in Elastic by 793.3% in the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after acquiring an additional 238 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after acquiring an additional 158 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its stake in Elastic by 1,065.2% in the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock valued at $53,000 after acquiring an additional 490 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Trading Down 1.6 %

Shares of Elastic stock opened at $93.81 on Wednesday. The company’s fifty day moving average price is $105.45 and its two-hundred day moving average price is $94.92. 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 52-week low of $69.00 and a 52-week high of $123.96. The firm has a market capitalization of $9.79 billion, a PE ratio of 170.56 and a beta of 1.20.

Elastic (NYSE:ESTC) last announced 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). The firm had revenue of $382.08 million for the quarter, compared to analyst estimates of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. On average, analysts expect that Elastic will post -0.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ESTC shares. Oppenheimer boosted their price objective on shares of Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Wedbush cut shares of Elastic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. DA Davidson boosted their price objective on shares of Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Truist Financial boosted their price objective on shares of Elastic from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Finally, UBS Group boosted their price objective on shares of Elastic from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Elastic presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.52.

Insider Buying and Selling

In other Elastic news, CRO Mark Eugene Dodds sold 2,755 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.77, for a total value of $250,071.35. Following the completion of the sale, the executive now owns 96,484 shares in the company, valued at approximately $8,757,852.68. This trade represents a 2.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 25,668 shares of the firm’s stock in a transaction dated Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the completion of the sale, the chief technology officer now owns 2,408,541 shares of the company’s stock, valued at $271,033,118.73. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 193,304 shares of company stock worth $20,334,252 in the last quarter. 15.90% of the stock is owned by corporate insiders.

Elastic Company 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.