Semanteon Capital Management LP Purchases New Holdings in Elastic (NYSE:ESTC)

Semanteon Capital Management LP purchased a new stake in Elastic (NYSE:ESTC) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 5,639 shares of the company’s stock, valued at approximately $636,000.

Other institutional investors have also made changes to their positions in the company. CWM LLC lifted its stake in shares of Elastic by 9.8% in the 3rd quarter. CWM LLC now owns 4,648 shares of the company’s stock valued at $378,000 after acquiring an additional 415 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Elastic by 38.0% in the 3rd quarter. SG Americas Securities LLC now owns 8,222 shares of the company’s stock valued at $668,000 after acquiring an additional 2,266 shares during the last quarter. Xponance Inc. lifted its stake in shares of Elastic by 3.3% in the 3rd quarter. Xponance Inc. now owns 11,116 shares of the company’s stock valued at $903,000 after acquiring an additional 356 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Elastic in the 3rd quarter valued at $221,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Elastic by 53.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,187 shares of the company’s stock valued at $2,940,000 after acquiring an additional 12,628 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

Elastic Stock Performance

Shares of NYSE ESTC traded up $2.61 during midday trading on Friday, reaching $107.40. The company’s stock had a trading volume of 1,066,830 shares, compared to its average volume of 1,373,210. Elastic has a 12-month low of $54.06 and a 12-month high of $136.06. The firm has a 50 day moving average price of $106.93 and a 200-day moving average price of $102.42. The stock has a market capitalization of $10.83 billion, a P/E ratio of 233.35 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 posted 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. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. The business had revenue of $327.96 million for the quarter, compared to the consensus estimate of $320.48 million. As a group, equities analysts predict that Elastic will post -1.13 earnings per share for the current year.

Insider Activity at Elastic

In related news, insider Carolyn Herzog sold 2,591 shares of the company’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 $267,598.48. Following the transaction, the insider now owns 87,799 shares in the company, valued at $9,067,880.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Elastic news, insider Carolyn Herzog sold 2,591 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $103.28, for a total transaction of $267,598.48. Following the sale, the insider now owns 87,799 shares of the company’s stock, valued at approximately $9,067,880.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven Schuurman sold 815,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the sale, the director now directly owns 8,382,000 shares in the company, valued at approximately $817,580,280. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 962,440 shares of company stock worth $94,535,764. Insiders own 18.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ESTC has been the subject of a number of research reports. Barclays dropped 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. TheStreet upgraded Elastic from a “d+” rating to a “c-” rating in a report on Wednesday, February 7th. Stifel Nicolaus increased their price objective on Elastic from $99.00 to $130.00 and gave the company a “buy” rating in a report on Friday, March 1st. Royal Bank of Canada increased their price objective on Elastic from $134.00 to $147.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Finally, Scotiabank decreased their price objective on Elastic from $185.00 to $154.00 and set a “sector outperform” rating for the company in a report on Friday, March 1st. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.