Elastic (NYSE:ESTC) Stock Holdings Lessened by IVY Lane Capital Management LLC

IVY Lane Capital Management LLC decreased its stake in shares of Elastic (NYSE:ESTC) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 125,000 shares of the company’s stock after selling 5,000 shares during the period. Elastic comprises about 9.0% of IVY Lane Capital Management LLC’s holdings, making the stock its 4th largest position. IVY Lane Capital Management LLC’s holdings in Elastic were worth $14,088,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Sylebra Capital LLC bought a new position in Elastic in the 3rd quarter valued at $318,822,000. Alkeon Capital Management LLC grew its stake in Elastic by 82.1% in the 3rd quarter. Alkeon Capital Management LLC now owns 1,995,985 shares of the company’s stock valued at $162,154,000 after purchasing an additional 900,000 shares during the period. FMR LLC grew its stake in Elastic by 4.7% in the 3rd quarter. FMR LLC now owns 9,051,434 shares of the company’s stock valued at $735,338,000 after purchasing an additional 409,717 shares during the period. Vanguard Group Inc. grew its stake in Elastic by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 8,573,534 shares of the company’s stock valued at $696,514,000 after purchasing an additional 380,694 shares during the period. Finally, Baillie Gifford & Co. grew its stake in Elastic by 2.8% in the 4th quarter. Baillie Gifford & Co. now owns 7,764,370 shares of the company’s stock valued at $875,044,000 after purchasing an additional 211,896 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Price Performance

Shares of NYSE:ESTC traded up $2.64 on Friday, hitting $107.43. The company’s stock had a trading volume of 1,066,990 shares, compared to its average volume of 1,008,053. The company has a 50-day simple moving average of $106.47 and a 200 day simple moving average of $102.60. Elastic has a 1 year low of $54.06 and a 1 year high of $136.06. The company has a market capitalization of $10.83 billion, a PE ratio of 233.54 and a beta of 0.94. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.87 and a quick ratio of 1.87.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.01. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. The firm had revenue of $327.96 million for the quarter, compared to analysts’ expectations of $320.48 million. Sell-side analysts forecast that Elastic will post -1.13 EPS for the current fiscal year.

Insider Activity at Elastic

In related news, CEO Ashutosh Kulkarni sold 15,778 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $103.28, for a total transaction of $1,629,551.84. Following the transaction, the chief executive officer now directly owns 364,235 shares of the company’s stock, valued at approximately $37,618,190.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Steven Schuurman sold 815,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 8,382,000 shares in the company, valued at approximately $817,580,280. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 15,778 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $103.28, for a total value of $1,629,551.84. Following the transaction, the chief executive officer now owns 364,235 shares in the company, valued at $37,618,190.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 962,440 shares of company stock valued at $94,535,764. Corporate insiders own 18.10% of the company’s stock.

Analysts Set New Price Targets

ESTC has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on Elastic from $93.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. TheStreet upgraded Elastic from a “d+” rating to a “c-” rating in a research note on Wednesday, February 7th. Barclays cut their price target on Elastic from $130.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, March 1st. Oppenheimer increased their price target on Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Finally, Royal Bank of Canada increased their price target on Elastic from $134.00 to $147.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $111.26.

Elastic 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.