Elastic (NYSE:ESTC) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its position in Elastic (NYSE:ESTC) by 187.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,073 shares of the company’s stock after purchasing an additional 5,919 shares during the period. Thrivent Financial for Lutherans’ holdings in Elastic were worth $899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. acquired a new position in Elastic in the 4th quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Elastic during the 4th quarter worth approximately $25,000. Venturi Wealth Management LLC lifted its position in shares of Elastic by 793.3% during the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after buying an additional 238 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Elastic by 126.4% in the 4th 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 period. Finally, Global Retirement Partners LLC increased its holdings in Elastic by 1,065.2% in the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock worth $53,000 after acquiring an additional 490 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Elastic Price Performance

Shares of NYSE:ESTC opened at $91.31 on Wednesday. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96. The firm has a market capitalization of $9.53 billion, a P/E ratio of 166.02 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. The company’s fifty day moving average price is $104.84 and its 200 day moving average price is $96.51.

Elastic (NYSE:ESTC) last issued its quarterly 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). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The business had revenue of $382.08 million for the quarter, compared to analyst estimates of $368.85 million. As a group, sell-side analysts predict that Elastic will post -0.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Elastic news, CTO Shay Banon sold 140,129 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the sale, the chief technology officer now directly owns 2,254,978 shares in the company, valued at approximately $240,561,053.04. The trade was a 5.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Carolyn Herzog sold 3,334 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.78, for a total transaction of $302,660.52. Following the completion of the transaction, the insider now owns 84,152 shares of the company’s stock, valued at $7,639,318.56. This represents a 3.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 198,304 shares of company stock valued at $20,847,452. 15.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ESTC shares. Jefferies Financial Group lowered their price target on Elastic from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday. Piper Sandler lifted their target price on shares of Elastic from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Robert W. Baird increased their target price on shares of Elastic from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Scotiabank lowered their price target on shares of Elastic from $140.00 to $137.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 27th. Finally, Wells Fargo & Company upped their price objective on shares of Elastic from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $130.74.

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.