Semanteon Capital Management LP Makes New Investment in Elastic (NYSE:ESTC)

Semanteon Capital Management LP acquired a new position in shares of Elastic (NYSE:ESTC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,639 shares of the company’s stock, valued at approximately $636,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in shares of Elastic by 6.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,284 shares of the company’s stock valued at $186,000 after purchasing an additional 142 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Elastic by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 34,154 shares of the company’s stock valued at $2,775,000 after buying an additional 170 shares during the period. Rakuten Securities Inc. purchased a new stake in shares of Elastic in the 4th quarter valued at $25,000. CWM LLC raised its holdings in shares of Elastic by 5.9% in the 4th quarter. CWM LLC now owns 4,924 shares of the company’s stock valued at $555,000 after buying an additional 276 shares during the period. Finally, Covestor Ltd raised its holdings in shares of Elastic by 168.3% in the 3rd quarter. Covestor Ltd now owns 448 shares of the company’s stock valued at $36,000 after buying an additional 281 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insider Transactions at Elastic

In related news, CFO Janesh Moorjani sold 5,515 shares of the business’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 transaction of $569,589.20. Following the transaction, the chief financial officer now directly owns 156,797 shares of the company’s stock, valued at approximately $16,193,994.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Elastic news, Director Steven Schuurman sold 815,000 shares of the company’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 value of $79,495,100.00. Following the transaction, the director now directly owns 8,382,000 shares of the company’s stock, valued at approximately $817,580,280. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Janesh Moorjani sold 5,515 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $103.28, for a total value of $569,589.20. Following the completion of the sale, the chief financial officer now owns 156,797 shares of the company’s stock, valued at $16,193,994.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 962,440 shares of company stock worth $94,535,764. 18.10% of the stock is currently owned by company insiders.

Elastic Price Performance

Elastic stock traded up $2.61 during midday trading on Friday, reaching $107.40. 1,066,830 shares of the company were exchanged, compared to its average volume of 1,373,210. The company has a market capitalization of $10.83 billion, a price-to-earnings ratio of 233.35 and a beta of 0.94. The firm’s 50-day simple moving average is $106.93 and its 200-day simple moving average is $102.42. Elastic has a 1 year low of $54.06 and a 1 year high of $136.06. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.87 and a current 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, topping analysts’ consensus estimates of ($0.28) by $0.01. The firm had revenue of $327.96 million during the quarter, compared to analysts’ expectations of $320.48 million. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. On average, analysts anticipate that Elastic will post -1.13 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on ESTC. Scotiabank cut their price objective on Elastic from $185.00 to $154.00 and set a “sector outperform” rating on the stock in a report on Friday, March 1st. Citigroup cut their price target on Elastic from $165.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Truist Financial upped their price target on Elastic from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Rosenblatt Securities upped their price target on Elastic from $105.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, Royal Bank of Canada upped their price target on Elastic from $134.00 to $147.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.26.

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.