Cota Capital Management LLC grew its holdings in Elastic (NYSE:ESTC – Get Rating) by 18.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 335,884 shares of the company’s stock after buying an additional 52,513 shares during the quarter. Elastic makes up 9.3% of Cota Capital Management LLC’s portfolio, making the stock its 4th largest position. Cota Capital Management LLC owned 0.35% of Elastic worth $17,298,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ESTC. Citigroup Inc. increased its position in Elastic by 44.1% in the fourth quarter. Citigroup Inc. now owns 34,778 shares of the company’s stock worth $1,791,000 after purchasing an additional 10,644 shares during the period. Utah Retirement Systems increased its position in Elastic by 3.0% in the third quarter. Utah Retirement Systems now owns 13,800 shares of the company’s stock worth $990,000 after purchasing an additional 400 shares during the period. Ensign Peak Advisors Inc increased its position in Elastic by 7.4% in the third quarter. Ensign Peak Advisors Inc now owns 18,230 shares of the company’s stock worth $1,308,000 after purchasing an additional 1,250 shares during the period. Swiss National Bank increased its position in Elastic by 3.5% in the fourth quarter. Swiss National Bank now owns 183,500 shares of the company’s stock worth $9,450,000 after purchasing an additional 6,200 shares during the period. Finally, CWM LLC boosted its holdings in Elastic by 134.1% during the fourth quarter. CWM LLC now owns 3,350 shares of the company’s stock worth $173,000 after buying an additional 1,919 shares during the last quarter. 78.40% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have issued reports on ESTC shares. Robert W. Baird reduced their target price on Elastic from $76.00 to $60.00 in a report on Monday, June 5th. Barclays raised their target price on Elastic from $70.00 to $83.00 in a report on Friday, June 2nd. Rosenblatt Securities restated a “buy” rating and set a $96.00 target price on shares of Elastic in a report on Wednesday, March 1st. Wells Fargo & Company upgraded Elastic from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $55.00 to $67.00 in a report on Friday, June 2nd. Finally, Stifel Nicolaus raised their target price on Elastic from $60.00 to $70.00 in a report on Friday, June 2nd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.56.
Elastic Trading Up 0.7 %
NYSE:ESTC opened at $71.55 on Tuesday. Elastic has a twelve month low of $46.18 and a twelve month high of $91.30. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 1.47. The business has a 50 day moving average price of $62.03 and a two-hundred day moving average price of $58.26.
Elastic (NYSE:ESTC – Get Rating) last released its quarterly earnings results on Thursday, June 1st. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.13. Elastic had a negative return on equity of 46.75% and a negative net margin of 22.09%. The firm had revenue of $279.94 million during the quarter, compared to the consensus estimate of $277.63 million. During the same quarter in the prior year, the firm posted ($0.64) EPS. The business’s revenue was up 17.0% on a year-over-year basis. Equities analysts predict that Elastic will post -1.16 earnings per share for the current year.
Elastic Company Profile
Elastic NV engages in the provision of open-source search and analytics engine services. It offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as perform search, analysis, and visualization. The firms Elastic Stack product comprises Elasticsearch, a distributed, real-time search and analytics engine, and data store for various types of data, including textual, numerical, geospatial, structured, and unstructured, Kibana, a user interface, management, and configuration interface for the Elastic Stack, Beats, a single-purpose data shippers for sending data from edge machines to Elasticsearch or Logstash, and Logstash, a data processing pipeline for ingesting data into Elasticsearch or other storage systems.