PNC Financial Services Group Inc. Buys 437 Shares of Elastic (NYSE:ESTC)

PNC Financial Services Group Inc. lifted its position in Elastic (NYSE:ESTC) by 16.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,111 shares of the company’s stock after buying an additional 437 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Elastic were worth $308,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Slow Capital Inc. purchased a new stake in shares of Elastic in the fourth quarter worth about $5,039,000. Wealth Effects LLC lifted its holdings in shares of Elastic by 25.4% in the fourth quarter. Wealth Effects LLC now owns 28,800 shares of the company’s stock worth $2,854,000 after buying an additional 5,830 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of Elastic in the third quarter worth about $585,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Elastic by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock worth $41,901,000 after buying an additional 14,590 shares in the last quarter. Finally, Bangor Savings Bank purchased a new stake in shares of Elastic in the fourth quarter worth about $1,657,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ESTC. Morgan Stanley increased their price target on shares of Elastic from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Canaccord Genuity Group raised their target price on shares of Elastic from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 28th. The Goldman Sachs Group raised their target price on shares of Elastic from $99.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Wedbush downgraded shares of Elastic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada raised their target price on shares of Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Seven investment 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.52.

Insider Transactions at Elastic

In related news, CRO Mark Eugene Dodds sold 2,755 shares of Elastic stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.77, for a total value of $250,071.35. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ashutosh Kulkarni sold 18,735 shares of Elastic stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the completion of the sale, the chief executive officer now owns 376,591 shares in the company, valued at approximately $34,183,165.07. This trade represents a 4.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 193,304 shares of company stock worth $20,334,252. Insiders own 15.90% of the company’s stock.

Elastic Stock Up 2.3 %

Shares of Elastic stock opened at $96.96 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96. The stock has a market capitalization of $10.12 billion, a price-to-earnings ratio of 176.29 and a beta of 1.20. The company’s 50 day moving average price is $105.33 and its 200-day moving average price is $95.07.

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 the consensus estimate of $0.47 by ($0.48). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The firm had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. Equities research analysts forecast that Elastic will post -0.77 EPS for the current year.

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.