Panagora Asset Management Inc. Has $28.52 Million Holdings in Elastic (NYSE:ESTC)

Panagora Asset Management Inc. raised its holdings in shares of Elastic (NYSE:ESTCFree Report) by 202.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 253,070 shares of the company’s stock after buying an additional 169,260 shares during the quarter. Panagora Asset Management Inc. owned about 0.25% of Elastic worth $28,521,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC raised its stake in shares of Elastic by 10.7% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 5,403 shares of the company’s stock valued at $609,000 after purchasing an additional 523 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Elastic by 226.3% in the fourth quarter. Principal Financial Group Inc. now owns 31,405 shares of the company’s stock valued at $3,539,000 after purchasing an additional 21,781 shares in the last quarter. QRG Capital Management Inc. acquired a new position in shares of Elastic in the fourth quarter valued at $342,000. Jump Financial LLC raised its stake in shares of Elastic by 206.9% in the fourth quarter. Jump Financial LLC now owns 24,211 shares of the company’s stock valued at $2,729,000 after purchasing an additional 16,323 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new position in shares of Elastic in the fourth quarter valued at $606,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Price Performance

NYSE ESTC opened at $110.08 on Friday. The firm’s 50 day moving average is $102.20 and its 200-day moving average is $105.48. Elastic has a 12-month low of $57.38 and a 12-month high of $136.06. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $11.10 billion, a PE ratio of 239.30 and a beta of 0.92.

Elastic (NYSE:ESTCGet Free Report) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.01. The company had revenue of $327.96 million during the quarter, compared to the consensus estimate of $320.48 million. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. Equities research analysts anticipate that Elastic will post -1.13 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Steven Schuurman sold 815,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the completion of the transaction, the director now owns 8,382,000 shares of the company’s stock, valued at approximately $817,580,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Steven Schuurman sold 815,000 shares of Elastic stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total value of $79,495,100.00. Following the completion of the transaction, the director now directly owns 8,382,000 shares of the company’s stock, valued at approximately $817,580,280. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Shay Banon sold 100,000 shares of Elastic stock in a transaction on Monday, March 18th. The shares were sold at an average price of $101.73, for a total transaction of $10,173,000.00. Following the completion of the sale, the chief technology officer now owns 3,254,978 shares of the company’s stock, valued at approximately $331,128,911.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 962,440 shares of company stock worth $94,535,764. Corporate insiders own 18.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. TheStreet upgraded Elastic from a “d+” rating to a “c-” rating in a research report on Wednesday, February 7th. Stifel Nicolaus increased their target price on Elastic from $99.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Oppenheimer increased their target price on Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Royal Bank of Canada raised their price target on Elastic from $134.00 to $147.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Finally, Rosenblatt Securities raised their price target on Elastic from $105.00 to $136.00 and gave the company a “buy” rating in a report on Friday, March 1st. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $111.26.

Read Our Latest Research Report on ESTC

About Elastic

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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