Osborne Partners Capital Management LLC Has $7.76 Million Holdings in Elastic (NYSE:ESTC)

Osborne Partners Capital Management LLC lessened its stake in Elastic (NYSE:ESTC - Free Report) by 33.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,301 shares of the company's stock after selling 38,751 shares during the quarter. Osborne Partners Capital Management LLC owned approximately 0.08% of Elastic worth $7,758,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. 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. lifted its holdings in Elastic by 7.0% in the 3rd quarter. QRG Capital Management Inc. now owns 3,063 shares of the company's stock worth $235,000 after buying an additional 201 shares during the period. Oppenheimer & Co. Inc. raised its holdings in Elastic by 3.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company's stock worth $523,000 after purchasing an additional 219 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Elastic during the 4th quarter worth approximately $25,000. Finally, Y Intercept Hong Kong Ltd increased its stake in shares of Elastic by 12.5% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,985 shares of the company's stock worth $229,000 after acquiring an additional 332 shares in the last quarter. Institutional investors own 97.03% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Truist Financial boosted their price target on Elastic from $105.00 to $135.00 and gave the company a "buy" rating in a report on Friday, November 22nd. Jefferies Financial Group lifted their price objective on Elastic from $110.00 to $135.00 and gave the stock a "buy" rating in a research note on Friday, November 22nd. Scotiabank reduced their price objective on Elastic from $135.00 to $127.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, January 21st. Wedbush lowered shares of Elastic from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. increased their target price on Elastic from $100.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $125.35.

Elastic Stock Down 1.0 %

Shares of Elastic stock traded down $1.10 during trading on Wednesday, hitting $114.35. 375,169 shares of the stock were exchanged, compared to its average volume of 1,280,758. The firm's 50-day moving average price is $104.92 and its 200 day moving average price is $94.93. The stock has a market cap of $11.85 billion, a price-to-earnings ratio of 207.66 and a beta of 1.07. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99.

Insider Activity at Elastic

In other news, insider Carolyn Herzog sold 11,145 shares of Elastic 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 owns 92,011 shares in the company, valued at $10,244,504.74. This trade represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 395,326 shares in the company, valued at $42,742,647.12. This represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,162 shares of company stock worth $18,637,562 over the last 90 days. Company insiders own 15.90% of the company's stock.

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.