Elastic (NYSE:ESTC) Position Boosted by Amalgamated Bank

Amalgamated Bank lifted its stake in shares of Elastic (NYSE:ESTC) by 10.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,031 shares of the company’s stock after purchasing an additional 582 shares during the period. Amalgamated Bank’s holdings in Elastic were worth $598,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Geneos Wealth Management Inc. bought a new position in shares of Elastic during the fourth quarter worth about $25,000. Venturi Wealth Management LLC lifted 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 during the last quarter. Global Retirement Partners LLC raised its stake in 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 acquiring an additional 490 shares during the period. FNY Investment Advisers LLC raised its stake in Elastic by 87.3% during the fourth quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock worth $74,000 after acquiring an additional 349 shares during the period. Finally, Stephens Consulting LLC acquired a new stake in Elastic during the fourth quarter worth about $198,000. Institutional investors own 97.03% of the company’s stock.

Insider Buying and Selling

In other news, CEO Ashutosh Kulkarni sold 7,017 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value of $758,678.04. Following the completion of the sale, the chief executive officer now owns 395,326 shares of the company’s stock, valued at $42,742,647.12. This trade represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 15.90% of the stock is currently owned by insiders.

Elastic Trading Up 0.6 %

Shares of NYSE:ESTC opened at $107.77 on Wednesday. The stock has a market capitalization of $11.17 billion, a price-to-earnings ratio of 195.95 and a beta of 1.07. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The company has a 50 day moving average price of $106.20 and a 200 day moving average price of $95.44.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on ESTC. UBS Group increased 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. Wells Fargo & Company increased their price objective on shares of Elastic from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Stifel Nicolaus increased their price objective on shares of Elastic from $98.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. The Goldman Sachs Group increased their price objective on shares of Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Baird R W upgraded shares of Elastic from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $131.52.

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.