Victory Capital Management Inc. Sells 4,662 Shares of Elastic (NYSE:ESTC)

Victory Capital Management Inc. decreased its holdings in shares of Elastic (NYSE:ESTC) by 30.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,637 shares of the company’s stock after selling 4,662 shares during the period. Victory Capital Management Inc.’s holdings in Elastic were worth $1,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of ESTC. Oppenheimer & Co. Inc. boosted its holdings in Elastic by 3.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company’s stock worth $523,000 after buying an additional 219 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Elastic by 2.7% in the 3rd 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 during the period. Penserra Capital Management LLC boosted its holdings in Elastic by 7.4% in the 3rd quarter. Penserra Capital Management LLC now owns 51,880 shares of the company’s stock worth $3,981,000 after buying an additional 3,561 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Elastic by 12.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 16,431 shares of the company’s stock worth $1,261,000 after buying an additional 1,757 shares during the period. Finally, FMR LLC boosted its holdings in Elastic by 25.6% in the 3rd 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 period. Institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on ESTC shares. Robert W. Baird increased their price objective on shares of Elastic from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Cantor Fitzgerald started coverage on shares of Elastic in a report on Friday, January 17th. They set a “neutral” rating and a $108.00 price objective for the company. Stifel Nicolaus increased their price objective on shares of Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Wedbush downgraded shares of Elastic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, UBS Group increased their price objective on shares of Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, February 28th. Seven investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.52.

Insider Transactions at Elastic

In other news, CTO Shay Banon sold 2,683 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.78, for a total transaction of $243,562.74. Following the transaction, the chief technology officer now directly owns 4,535,456 shares of the company’s stock, valued at approximately $411,728,695.68. This trade represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Mark Eugene Dodds sold 2,755 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $250,071.35. Following the transaction, the executive now directly owns 96,484 shares in the company, valued at approximately $8,757,852.68. This trade represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 193,304 shares of company stock valued at $20,334,252. 15.90% of the stock is currently owned by company insiders.

Elastic Stock Performance

Elastic stock opened at $94.78 on Friday. 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 1-year low of $69.00 and a 1-year high of $123.96. The firm has a market capitalization of $9.90 billion, a P/E ratio of 172.32 and a beta of 1.20. The company’s 50-day moving average is $105.34 and its 200 day moving average is $94.92.

Elastic (NYSE:ESTC) last posted its quarterly earnings data 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 firm had revenue of $382.08 million during the quarter, compared to analysts’ expectations of $368.85 million. 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.