Bangor Savings Bank Makes New Investment in Elastic (NYSE:ESTC)

Bangor Savings Bank acquired a new position in shares of Elastic (NYSE:ESTC - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 16,725 shares of the company's stock, valued at approximately $1,657,000.

Other large investors have also recently made changes to their positions in the company. M&T Bank Corp increased its holdings in shares of Elastic by 3.1% in the third quarter. M&T Bank Corp now owns 4,652 shares of the company's stock valued at $357,000 after purchasing an additional 139 shares during the last quarter. QRG Capital Management Inc. raised its holdings in shares of Elastic by 7.0% during the 3rd quarter. QRG Capital Management Inc. now owns 3,063 shares of the company's stock worth $235,000 after acquiring an additional 201 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of Elastic by 3.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company's stock valued at $523,000 after acquiring an additional 219 shares during the last quarter. Headlands Technologies LLC boosted its position in shares of Elastic by 75.4% during the 2nd quarter. Headlands Technologies LLC now owns 628 shares of the company's stock valued at $72,000 after acquiring an additional 270 shares during the last quarter. Finally, Asset Dedication LLC grew its holdings in shares of Elastic by 1,333.3% in the second quarter. Asset Dedication LLC now owns 301 shares of the company's stock valued at $34,000 after purchasing an additional 280 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ESTC. Wells Fargo & Company lifted their target price on shares of Elastic from $100.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. Morgan Stanley initiated coverage on Elastic in a report on Tuesday, December 17th. They issued an "overweight" rating and a $130.00 price objective on the stock. Oppenheimer increased their price objective on Elastic from $125.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, November 22nd. DA Davidson lifted their target price on Elastic from $75.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Finally, Scotiabank increased their price target on Elastic from $92.00 to $135.00 and gave the stock a "sector outperform" rating in a report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Elastic has a consensus rating of "Moderate Buy" and a consensus price target of $126.50.

Elastic Stock Down 2.9 %

NYSE ESTC traded down $2.91 on Tuesday, hitting $98.76. 1,084,905 shares of the stock were exchanged, compared to its average volume of 1,140,526. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The company has a 50-day moving average price of $99.17 and a 200-day moving average price of $96.42. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The company has a market cap of $10.23 billion, a PE ratio of 179.56 and a beta of 1.06.

Insider Transactions at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 7,017 shares of the firm's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total transaction of $758,678.04. Following the transaction, the chief executive officer now owns 395,326 shares of the company's stock, valued at approximately $42,742,647.12. This trade represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 150,000 shares of Elastic stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total value of $16,638,000.00. Following the sale, the chief technology officer now owns 2,604,978 shares in the company, valued at $288,944,159.76. This trade represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 168,162 shares of company stock valued at $18,637,562. Insiders own 15.90% of the company's stock.

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.