Tidal Investments LLC raised its position in Elastic (NYSE:ESTC - Free Report) by 239.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,807 shares of the company's stock after acquiring an additional 6,915 shares during the period. Tidal Investments LLC's holdings in Elastic were worth $753,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in Elastic by 25.6% in the third quarter. FMR LLC now owns 5,475,297 shares of the company's stock valued at $420,284,000 after buying an additional 1,115,750 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in Elastic during the second quarter worth $248,335,000. Atreides Management LP boosted its position in Elastic by 57.2% during the third quarter. Atreides Management LP now owns 1,687,791 shares of the company's stock worth $129,555,000 after purchasing an additional 614,309 shares in the last quarter. State Street Corp grew its holdings in Elastic by 2.3% in the third quarter. State Street Corp now owns 1,437,243 shares of the company's stock valued at $110,323,000 after purchasing an additional 31,663 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Elastic by 3.7% in the third quarter. Geode Capital Management LLC now owns 1,394,336 shares of the company's stock valued at $107,058,000 after buying an additional 50,355 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.
Elastic Stock Down 0.1 %
NYSE:ESTC traded down $0.08 on Friday, reaching $103.63. The stock had a trading volume of 1,858,694 shares, compared to its average volume of 1,351,117. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The stock has a market cap of $10.74 billion, a P/E ratio of 188.42 and a beta of 1.02. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average of $94.21 and a 200 day moving average of $97.38.
Insiders Place Their Bets
In related news, CTO Shay Banon sold 150,000 shares of the firm's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the transaction, the chief technology officer now directly owns 2,604,978 shares in the company, 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 document filed with the SEC, which is available through this hyperlink. 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 transaction of $1,240,884.30. Following the sale, the insider now directly owns 92,011 shares of the company's stock, valued at approximately $10,244,504.74. This represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 168,162 shares of company stock worth $18,637,562 in the last three months. 15.90% of the stock is owned by insiders.
Analyst Ratings Changes
A number of equities analysts have issued reports on the stock. Scotiabank lifted their target price on shares of Elastic from $92.00 to $135.00 and gave the stock a "sector outperform" rating in a research report on Friday, November 22nd. Piper Sandler upped their target price on shares of Elastic from $100.00 to $130.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. Needham & Company LLC reiterated a "hold" rating on shares of Elastic in a report on Friday, November 22nd. Morgan Stanley began coverage on shares of Elastic in a research note on Tuesday, December 17th. They set an "overweight" rating and a $130.00 price objective on the stock. Finally, TD Cowen lowered their target price on shares of Elastic from $110.00 to $80.00 and set a "hold" rating for the company in a research note on Friday, August 30th. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $126.50.
Check Out Our Latest Report on Elastic
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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