Baillie Gifford & Co. Lowers Stock Holdings in Elastic (NYSE:ESTC)

Baillie Gifford & Co. lessened its holdings in shares of Elastic (NYSE:ESTC - Free Report) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,873,903 shares of the company's stock after selling 537,963 shares during the quarter. Baillie Gifford & Co. owned about 8.56% of Elastic worth $879,226,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. purchased a new position in Elastic during the 4th quarter valued at approximately $25,000. FNY Investment Advisers LLC grew its holdings in Elastic by 87.3% during the 4th quarter. FNY Investment Advisers LLC now owns 749 shares of the company's stock valued at $74,000 after buying an additional 349 shares in the last quarter. Eastern Bank purchased a new position in Elastic during the 3rd quarter valued at approximately $61,000. Stephens Consulting LLC purchased a new position in Elastic during the 4th quarter valued at approximately $198,000. Finally, Janney Montgomery Scott LLC purchased a new position in Elastic during the 4th quarter valued at approximately $202,000. Institutional investors own 97.03% of the company's stock.

Elastic Stock Performance

Elastic stock traded down $1.93 during trading hours on Thursday, hitting $109.59. 1,041,859 shares of the stock traded hands, compared to its average volume of 1,232,232. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The firm's 50 day moving average price is $105.95 and its 200-day moving average price is $95.46. The stock has a market capitalization of $11.36 billion, a price-to-earnings ratio of 199.25 and a beta of 1.07. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ESTC shares. Robert W. Baird upgraded Elastic from a "neutral" rating to an "outperform" rating and raised their price target for the company from $95.00 to $135.00 in a report on Friday, November 22nd. Citigroup lifted their target price on Elastic from $136.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Canaccord Genuity Group lifted their target price on Elastic from $110.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, November 22nd. Royal Bank of Canada lifted their target price on Elastic from $110.00 to $130.00 and gave the stock an "outperform" rating in a report on Friday, November 22nd. Finally, Wells Fargo & Company lifted their target price on Elastic from $100.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, November 22nd. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $125.35.

Insider Buying and Selling at Elastic

In other news, CEO Ashutosh Kulkarni sold 7,017 shares of the company's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value of $758,678.04. Following the sale, the chief executive officer now owns 395,326 shares in the company, valued at $42,742,647.12. This represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Shay Banon sold 150,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $110.92, for a total value of $16,638,000.00. Following the transaction, the chief technology officer now directly owns 2,604,978 shares of the company's stock, valued at $288,944,159.76. The trade was a 5.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,162 shares of company stock worth $18,637,562. 15.90% of the stock is currently owned by insiders.

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.