BNP Paribas Financial Markets Purchases 43,772 Shares of Elastic (NYSE:ESTC)

BNP Paribas Financial Markets grew its position in shares of Elastic (NYSE:ESTC - Free Report) by 190.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,786 shares of the company's stock after buying an additional 43,772 shares during the quarter. BNP Paribas Financial Markets owned 0.06% of Elastic worth $5,126,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Elastic during the third quarter valued at approximately $1,262,000. WD Rutherford LLC purchased a new stake in shares of Elastic during the second quarter valued at approximately $422,000. Assenagon Asset Management S.A. purchased a new stake in shares of Elastic during the second quarter valued at approximately $102,169,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Elastic by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company's stock valued at $41,901,000 after buying an additional 14,590 shares during the last quarter. Finally, Daventry Group LP grew its holdings in shares of Elastic by 8.6% during the second quarter. Daventry Group LP now owns 316,975 shares of the company's stock valued at $36,107,000 after buying an additional 25,008 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ESTC. Bank of America increased their price objective on shares of Elastic from $94.00 to $120.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Jefferies Financial Group increased their price objective on shares of Elastic from $110.00 to $135.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. Wells Fargo & Company increased their price objective on shares of Elastic from $100.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. Guggenheim increased their price objective on shares of Elastic from $100.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. Finally, Royal Bank of Canada increased their price objective on shares of Elastic from $110.00 to $130.00 and gave the company an "outperform" rating in a research report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Elastic has an average rating of "Moderate Buy" and an average price target of $126.33.

Elastic Price Performance

ESTC traded up $3.26 during trading on Wednesday, hitting $116.20. 934,779 shares of the company traded hands, compared to its average volume of 1,334,238. The company has a market cap of $12.04 billion, a PE ratio of 205.36 and a beta of 1.02. The stock's 50-day simple moving average is $86.68 and its two-hundred day simple moving average is $97.06. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70.

Insider Activity at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 19,649 shares of Elastic stock in a transaction on Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $1,380,342.25. Following the completion of the transaction, the chief executive officer now directly owns 432,648 shares of the company's stock, valued at $30,393,522. This trade represents a 4.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Carolyn Herzog sold 11,145 shares of Elastic stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the completion of the transaction, the insider now directly owns 92,011 shares of the company's stock, valued at $10,244,504.74. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,551 shares of company stock valued at $20,506,656. Corporate 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.