Elastic (NYSE:ESTC) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Elastic (NYSE:ESTC - Free Report) in a report published on Friday morning, MarketBeat.com reports. The firm issued a neutral rating and a $108.00 target price on the stock.

Several other equities analysts have also issued reports on the stock. Piper Sandler lifted their price objective on shares of Elastic from $100.00 to $130.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. Scotiabank lifted their price target on Elastic from $92.00 to $135.00 and gave the company a "sector outperform" rating in a report on Friday, November 22nd. Guggenheim raised their price objective on Elastic from $100.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. William Blair upgraded shares of Elastic from a "market perform" rating to an "outperform" rating in a report on Monday, October 14th. Finally, Robert W. Baird raised shares of Elastic from a "neutral" rating to an "outperform" rating and increased their price target for the company from $95.00 to $135.00 in a research report on Friday, November 22nd. Seven 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 company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $125.70.

Elastic Trading Up 0.7 %

ESTC stock traded up $0.68 during mid-day trading on Friday, reaching $100.65. The company had a trading volume of 586,157 shares, compared to its average volume of 1,136,446. The firm has a 50 day moving average of $101.38 and a 200 day moving average of $95.98. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06. The company has a market capitalization of $10.43 billion, a PE ratio of 183.13 and a beta of 1.06.

Insider Transactions at Elastic

In related news, CEO Ashutosh Kulkarni sold 7,017 shares of Elastic stock in a transaction that occurred on 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 in the company, 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 filing with the SEC, which can be accessed through this link. Also, CTO Shay Banon sold 150,000 shares of the company's stock in a transaction 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 completion of the sale, the chief technology officer now owns 2,604,978 shares of the company's stock, valued at approximately $288,944,159.76. The trade was a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,162 shares of company stock valued at $18,637,562 over the last 90 days. 15.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Elastic

Several hedge funds have recently made changes to their positions in ESTC. Quarry LP acquired a new position in Elastic in the second quarter valued at approximately $40,000. FNY Investment Advisers LLC raised its position in Elastic by 87.3% in the fourth quarter. FNY Investment Advisers LLC now owns 749 shares of the company's stock valued at $74,000 after purchasing an additional 349 shares during the period. Eastern Bank acquired a new position in shares of Elastic in the 3rd quarter valued at $61,000. Janney Montgomery Scott LLC purchased a new position in shares of Elastic during the 4th quarter worth $202,000. Finally, Blue Trust Inc. increased its position in shares of Elastic by 21.2% during the 3rd quarter. Blue Trust Inc. now owns 2,582 shares of the company's stock worth $198,000 after purchasing an additional 452 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

About Elastic

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.