Charles Schwab Investment Management Inc. Purchases 17,215 Shares of Elastic (NYSE:ESTC)

Charles Schwab Investment Management Inc. boosted its stake in shares of Elastic (NYSE:ESTC) by 3.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 563,085 shares of the company’s stock after buying an additional 17,215 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.54% of Elastic worth $55,790,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC increased its holdings in Elastic by 25.6% during the third quarter. FMR LLC now owns 5,475,297 shares of the company’s stock worth $420,284,000 after buying an additional 1,115,750 shares during the last quarter. Atreides Management LP raised its stake in Elastic by 57.2% in the third quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock valued at $129,555,000 after purchasing an additional 614,309 shares in the last quarter. JAT Capital Mgmt LP raised its stake in Elastic by 601.4% in the third quarter. JAT Capital Mgmt LP now owns 465,549 shares of the company’s stock valued at $35,736,000 after purchasing an additional 399,175 shares in the last quarter. Thematics Asset Management raised its stake in Elastic by 463.3% in the third quarter. Thematics Asset Management now owns 444,012 shares of the company’s stock valued at $34,082,000 after purchasing an additional 365,192 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in Elastic by 256.3% in the third quarter. Franklin Resources Inc. now owns 341,524 shares of the company’s stock valued at $28,387,000 after purchasing an additional 245,680 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 7,017 shares of the 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 in the company, valued at approximately $42,742,647.12. This represents a 1.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Mark Eugene Dodds sold 2,755 shares of the 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 $250,071.35. Following the transaction, the executive now owns 96,484 shares in the company, valued at $8,757,852.68. The trade was a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 200,321 shares of company stock worth $21,092,930 over the last ninety days. Insiders own 15.90% of the company’s stock.

Elastic Stock Performance

Shares of ESTC stock opened at $91.49 on Friday. The business’s 50 day simple moving average is $105.96 and its 200 day simple moving average is $95.10. Elastic has a one year low of $69.00 and a one year high of $123.96. The stock has a market capitalization of $9.55 billion, a PE ratio of 166.35 and a beta of 1.20. 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 (NYSE:ESTC) last announced its 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). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The company had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. As a group, research analysts forecast that Elastic will post -0.77 earnings per share for the current year.

Wall Street Analyst Weigh In

ESTC has been the subject of a number of analyst reports. Piper Sandler boosted their price target on Elastic from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Truist Financial boosted their price target on Elastic from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Robert W. Baird boosted their target price on Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Wells Fargo & Company boosted their target price on Elastic from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, Morgan Stanley boosted their target price on Elastic from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Seven investment 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. Based on data from MarketBeat.com, Elastic has an average rating of “Moderate Buy” and an average price target of $131.52.

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.