Edgestream Partners L.P. Invests $574,000 in Elastic (NYSE:ESTC)

Edgestream Partners L.P. purchased a new stake in Elastic (NYSE:ESTC - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,473 shares of the company's stock, valued at approximately $574,000.

A number of other hedge funds have also made changes to their positions in ESTC. Asset Dedication LLC increased its position in Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company's stock worth $34,000 after purchasing an additional 280 shares in the last quarter. AlphaCentric Advisors LLC purchased a new stake in Elastic during the 2nd quarter worth about $40,000. Quarry LP purchased a new stake in Elastic during the 2nd quarter worth about $40,000. Signaturefd LLC grew its holdings in Elastic by 44.1% in the 2nd quarter. Signaturefd LLC now owns 389 shares of the company's stock valued at $44,000 after buying an additional 119 shares during the period. Finally, Eastern Bank purchased a new stake in Elastic in the 3rd quarter valued at about $61,000. Hedge funds and other institutional investors own 97.03% of the company's stock.

Insider Activity

In other Elastic news, CFO Janesh Moorjani sold 6,941 shares of the business's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $487,605.25. Following the completion of the transaction, the chief financial officer now directly owns 195,550 shares of the company's stock, valued at approximately $13,737,387.50. The trade was a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Carolyn Herzog sold 11,145 shares of the business's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total value 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 approximately $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. In the last ninety days, insiders sold 198,551 shares of company stock valued at $20,506,656. Company insiders own 15.90% of the company's stock.

Elastic Price Performance

ESTC stock traded down $0.38 during midday trading on Friday, reaching $111.15. 712,440 shares of the company's stock traded hands, compared to its average volume of 1,341,151. The company has a 50-day simple moving average of $88.12 and a two-hundred day simple moving average of $97.30. Elastic has a 1-year low of $69.00 and a 1-year high of $136.06. The company has a market cap of $11.52 billion, a price-to-earnings ratio of 202.75 and a beta of 1.02. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.

Wall Street Analysts Forecast Growth

ESTC has been the subject of several recent analyst reports. Royal Bank of Canada lifted their price target on Elastic from $110.00 to $130.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Elastic in a research note on Friday, November 22nd. DA Davidson lifted their price objective on Elastic from $75.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $120.00 price objective on shares of Elastic in a research note on Wednesday, November 20th. Finally, Wedbush raised Elastic from a "neutral" rating to an "outperform" rating and set a $135.00 price objective on the stock in a research note on Monday, November 25th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Elastic currently has an average rating of "Moderate Buy" and an average target price of $126.33.

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.