Elastic (NYSE:ESTC - Get Free Report) shares rose 5.4% during trading on Tuesday . The company traded as high as $107.97 and last traded at $110.56. Approximately 130,676 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 1,149,269 shares. The stock had previously closed at $104.92.
Analyst Upgrades and Downgrades
Several research firms have issued reports on ESTC. Oppenheimer raised their target price on Elastic from $125.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, November 22nd. Robert W. Baird upgraded shares of Elastic from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $95.00 to $135.00 in a report on Friday, November 22nd. William Blair raised shares of Elastic from a "market perform" rating to an "outperform" rating in a research report on Monday, October 14th. The Goldman Sachs Group lifted their price target on shares of Elastic from $99.00 to $113.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Finally, Baird R W upgraded shares of Elastic from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Elastic has a consensus rating of "Moderate Buy" and a consensus target price of $125.35.
Get Our Latest Report on Elastic
Elastic Stock Down 0.7 %
The firm's fifty day simple moving average is $104.83 and its 200 day simple moving average is $94.90. 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 market cap of $11.58 billion, a price-to-earnings ratio of 203.22 and a beta of 1.06.
Insider Buying and Selling
In other news, insider Carolyn Herzog sold 11,145 shares of the firm's stock in a transaction dated Tuesday, November 26th. The stock was 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 of the company's stock, valued at approximately $10,244,504.74. This trade represents a 10.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value of $758,678.04. Following the sale, the chief executive officer now owns 395,326 shares of the company's stock, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,162 shares of company stock worth $18,637,562. Corporate insiders own 15.90% of the company's stock.
Institutional Trading of Elastic
Several institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. purchased a new position in Elastic during the 4th quarter worth approximately $25,000. Venturi Wealth Management LLC boosted its holdings in shares of Elastic by 793.3% in the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock valued at $27,000 after acquiring an additional 238 shares during the period. Quarry LP acquired a new stake in shares of Elastic in the second quarter valued at approximately $40,000. Global Retirement Partners LLC grew its position in shares of Elastic by 1,065.2% during the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock worth $53,000 after acquiring an additional 490 shares during the last quarter. Finally, FNY Investment Advisers LLC increased its holdings in shares of Elastic by 87.3% in the 4th quarter. FNY Investment Advisers LLC now owns 749 shares of the company's stock valued at $74,000 after acquiring an additional 349 shares during the period. Hedge funds and other institutional investors own 97.03% of the company's stock.
About Elastic
(
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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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