Marcho Partners LLP Sells 78,377 Shares of Elastic (NYSE:ESTC)

Marcho Partners LLP lessened its position in Elastic (NYSE:ESTC - Free Report) by 24.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 238,541 shares of the company's stock after selling 78,377 shares during the period. Elastic makes up 4.9% of Marcho Partners LLP's investment portfolio, making the stock its 9th largest holding. Marcho Partners LLP owned 0.23% of Elastic worth $18,310,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ESTC. 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 stake in shares of Elastic in the second quarter valued at approximately $248,335,000. Atreides Management LP grew its position in shares of Elastic by 57.2% in the third quarter. Atreides Management LP now owns 1,687,791 shares of the company's stock valued at $129,555,000 after purchasing an additional 614,309 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Elastic during the second quarter worth approximately $102,169,000. Finally, Federated Hermes Inc. boosted its position in Elastic by 32,630.2% during the second quarter. Federated Hermes Inc. now owns 615,655 shares of the company's stock worth $70,129,000 after acquiring an additional 613,774 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

Elastic Stock Up 2.9 %

ESTC traded up $3.28 on Wednesday, reaching $116.22. 1,579,516 shares of the company traded hands, compared to its average volume of 1,337,267. The stock's 50 day moving average price is $86.68 and its 200-day moving average price is $97.06. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06. The company has a market cap of $12.04 billion, a price-to-earnings ratio of 211.73 and a beta of 1.02. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99.

Insiders Place Their Bets

In related news, insider Carolyn Herzog sold 11,145 shares of the company's stock in a transaction 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 completion of the transaction, the insider now directly owns 92,011 shares in the company, valued at $10,244,504.74. This represents a 10.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Shay Banon sold 2,666 shares of the company's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $187,286.50. Following the completion of the sale, the chief technology officer now directly owns 4,543,190 shares in the company, valued at approximately $319,159,097.50. The trade was a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,551 shares of company stock valued at $20,506,656 over the last ninety days. Corporate insiders own 15.90% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Citigroup increased their price target on shares of Elastic from $136.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. DA Davidson lifted their price target on shares of Elastic from $75.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Jefferies Financial Group lifted their price target on shares of Elastic from $110.00 to $135.00 and gave the stock a "buy" rating in a research note on Friday, November 22nd. The Goldman Sachs Group lifted their price target on shares of Elastic from $99.00 to $113.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Elastic from $100.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. Five research 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. According to MarketBeat.com, Elastic currently has an average rating of "Moderate Buy" and a consensus target price of $126.33.

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.