TimesSquare Capital Management LLC Sells 76,680 Shares of Elastic (NYSE:ESTC)

TimesSquare Capital Management LLC trimmed its position in shares of Elastic (NYSE:ESTC) by 11.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 569,620 shares of the company’s stock after selling 76,680 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.57% of Elastic worth $64,196,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ESTC. Xponance Inc. grew its stake in Elastic by 3.3% during the third quarter. Xponance Inc. now owns 11,116 shares of the company’s stock worth $903,000 after buying an additional 356 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Elastic during the third quarter valued at approximately $221,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Elastic by 53.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,187 shares of the company’s stock valued at $2,940,000 after purchasing an additional 12,628 shares during the last quarter. Washington Capital Management Inc. bought a new stake in shares of Elastic during the third quarter valued at approximately $496,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Elastic by 10.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,373 shares of the company’s stock valued at $355,000 after purchasing an additional 418 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ESTC has been the topic of several research analyst reports. Truist Financial increased their price target on shares of Elastic from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Oppenheimer increased their price target on shares of Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Barclays decreased their price target on shares of Elastic from $130.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. Royal Bank of Canada increased their price objective on shares of Elastic from $134.00 to $147.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Finally, Rosenblatt Securities increased their price objective on shares of Elastic from $105.00 to $136.00 and gave the company a “buy” rating in a report on Friday, March 1st. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Elastic has a consensus rating of “Moderate Buy” and an average target price of $111.26.

Insider Buying and Selling at Elastic

In other Elastic news, Director Steven Schuurman sold 815,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total value of $79,495,100.00. Following the completion of the sale, the director now owns 8,382,000 shares of the company’s stock, valued at approximately $817,580,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Steven Schuurman sold 815,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 8,382,000 shares of the company’s stock, valued at approximately $817,580,280. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Shay Banon sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $101.52, for a total transaction of $2,030,400.00. Following the sale, the chief technology officer now directly owns 3,054,978 shares of the company’s stock, valued at approximately $310,141,366.56. The disclosure for this sale can be found here. Insiders sold 962,440 shares of company stock valued at $94,535,764 in the last quarter. Company insiders own 18.10% of the company’s stock.

Elastic Stock Performance

Shares of ESTC stock traded down $0.66 during midday trading on Thursday, hitting $104.99. 572,340 shares of the company were exchanged, compared to its average volume of 1,327,090. The firm has a market capitalization of $10.58 billion, a P/E ratio of 228.24 and a beta of 0.92. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.87 and a current ratio of 1.87. The firm’s 50 day moving average price is $102.82 and its two-hundred day moving average price is $104.14. Elastic has a 52 week low of $57.38 and a 52 week high of $136.06.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.01. The firm had revenue of $327.96 million during the quarter, compared to the consensus estimate of $320.48 million. Elastic had a net margin of 4.63% and a negative return on equity of 23.94%. As a group, equities research analysts anticipate that Elastic will post -1.13 earnings per share for the current year.

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.