Sylebra Capital LLC decreased its position in Elastic (NYSE:ESTC - Free Report) by 14.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,804,620 shares of the company's stock after selling 488,956 shares during the period. Elastic comprises approximately 7.1% of Sylebra Capital LLC's portfolio, making the stock its 6th biggest holding. Sylebra Capital LLC owned 2.73% of Elastic worth $215,283,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Signaturefd LLC increased its holdings in shares of Elastic by 44.1% in the second quarter. Signaturefd LLC now owns 389 shares of the company's stock worth $44,000 after purchasing an additional 119 shares during the period. 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 worth $357,000 after purchasing an additional 139 shares during the period. QRG Capital Management Inc. increased its holdings in shares of Elastic by 7.0% in the third quarter. QRG Capital Management Inc. now owns 3,063 shares of the company's stock worth $235,000 after purchasing an additional 201 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of Elastic by 3.3% in the third quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company's stock worth $523,000 after purchasing an additional 219 shares during the period. Finally, Headlands Technologies LLC increased its holdings in shares of Elastic by 75.4% in the second quarter. Headlands Technologies LLC now owns 628 shares of the company's stock worth $72,000 after purchasing an additional 270 shares during the period. Hedge funds and other institutional investors own 97.03% of the company's stock.
Elastic Stock Down 3.8 %
Shares of ESTC stock traded down $4.05 during trading hours on Tuesday, hitting $103.81. 1,582,423 shares of the company's stock traded hands, compared to its average volume of 1,350,410. The stock's fifty day simple moving average is $89.99 and its two-hundred day simple moving average is $97.14. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of 188.75 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.
Insider Activity
In related news, CTO Shay Banon sold 150,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the completion of the sale, the chief technology officer now owns 2,604,978 shares of the company's stock, valued at $288,944,159.76. This trade represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Carolyn Herzog sold 11,145 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the sale, the insider now directly owns 92,011 shares of the company's stock, valued at $10,244,504.74. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.90% of the company's stock.
Analysts Set New Price Targets
ESTC has been the topic of a number of research analyst reports. Wedbush raised Elastic from a "neutral" rating to an "outperform" rating and set a $135.00 target price on the stock in a research note on Monday, November 25th. Truist Financial increased their target price on Elastic from $105.00 to $135.00 and gave the company a "buy" rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their target price on Elastic from $100.00 to $130.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Barclays increased their target price on Elastic from $105.00 to $138.00 and gave the company an "overweight" rating in a research note on Monday, November 25th. Finally, Scotiabank raised their price objective on Elastic from $92.00 to $135.00 and gave the company a "sector outperform" rating in a research note on Friday, November 22nd. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $126.33.
Check Out Our Latest Analysis on ESTC
About Elastic
(
Free Report)
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.
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