Sei Investments Co. Sells 6,750 Shares of Elastic (NYSE:ESTC)

Sei Investments Co. reduced its holdings in shares of Elastic (NYSE:ESTC) by 10.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,127 shares of the company’s stock after selling 6,750 shares during the period. Sei Investments Co. owned about 0.06% of Elastic worth $5,858,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. M&T Bank Corp lifted its stake in Elastic by 3.1% in the third quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock worth $357,000 after purchasing an additional 139 shares during the last quarter. Sigma Planning Corp boosted its holdings in Elastic by 3.7% during the 4th quarter. Sigma Planning Corp now owns 3,929 shares of the company’s stock valued at $389,000 after acquiring an additional 139 shares during the period. CIBC Asset Management Inc grew its position in Elastic by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,053 shares of the company’s stock worth $302,000 after acquiring an additional 151 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after purchasing an additional 158 shares during the period. Finally, Van ECK Associates Corp lifted its position in Elastic by 0.7% in the fourth quarter. Van ECK Associates Corp now owns 32,954 shares of the company’s stock valued at $3,265,000 after purchasing an additional 220 shares during 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. The firm has a market cap of $9.53 billion, a P/E ratio of 166.02 and a beta of 1.20. Elastic has a twelve month low of $69.00 and a twelve month high of $123.96. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The company has a 50 day moving average of $104.84 and a 200 day moving average of $96.51.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share 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 business had revenue of $382.08 million during the quarter, compared to analysts’ expectations of $368.85 million. As a group, research analysts expect that Elastic will post -0.77 EPS for the current fiscal year.

Insider Activity

In other Elastic news, CEO Ashutosh Kulkarni sold 18,735 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.77, for a total value of $1,700,575.95. Following the transaction, the chief executive officer now directly owns 376,591 shares in the company, valued at approximately $34,183,165.07. This trade represents a 4.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Shay Banon sold 140,129 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total value of $14,948,961.72. Following the sale, the chief technology officer now directly owns 2,254,978 shares of the company’s stock, valued at $240,561,053.04. This represents a 5.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 198,304 shares of company stock valued at $20,847,452 in the last 90 days. 15.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Elastic in a research report on Friday, January 17th. They set a “neutral” rating and a $108.00 price target for the company. Robert W. Baird increased their target price on shares of Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Guggenheim boosted their price target on Elastic from $130.00 to $136.00 and gave the company a “buy” rating in a report on Friday, February 28th. Scotiabank cut their price objective on 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, Wedbush downgraded Elastic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Seven 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.