Elastic (NYSE:ESTC) Short Interest Update

Elastic (NYSE:ESTC - Get Free Report) was the target of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 2,870,000 shares, an increase of 14.8% from the January 15th total of 2,500,000 shares. Approximately 3.2% of the shares of the company are short sold. Based on an average trading volume of 1,500,000 shares, the short-interest ratio is currently 1.9 days.

Analyst Ratings Changes

Several research analysts recently commented on ESTC shares. Truist Financial raised their target price on Elastic from $105.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, November 22nd. Barclays raised their target price on Elastic from $105.00 to $138.00 and gave the stock an "overweight" rating in a research report on Monday, November 25th. Stifel Nicolaus lifted their price objective on Elastic from $98.00 to $132.00 and gave the company a "buy" rating in a report on Friday, November 22nd. Piper Sandler lifted their price objective on Elastic from $100.00 to $130.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. Finally, DA Davidson lifted their price objective on Elastic from $75.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $125.35.

Elastic Trading Down 3.0 %

Shares of Elastic stock traded down $3.31 during trading on Friday, hitting $106.30. 911,935 shares of the company were exchanged, compared to its average volume of 1,222,810. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a market capitalization of $11.02 billion, a P/E ratio of 193.27 and a beta of 1.07. The firm's fifty day moving average price is $105.95 and its 200 day moving average price is $95.46. Elastic has a 1-year low of $69.00 and a 1-year high of $136.06.

Insider Transactions at Elastic

In other news, CEO Ashutosh Kulkarni sold 7,017 shares of the firm's stock in a transaction on Wednesday, December 18th. The shares were 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 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 legal filing with the SEC, which is accessible through this hyperlink. Also, insider Carolyn Herzog sold 11,145 shares of the firm's stock in a transaction on 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 completion of the sale, the insider now owns 92,011 shares in the company, valued at approximately $10,244,504.74. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 168,162 shares of company stock worth $18,637,562. Insiders own 15.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. bought a new position in shares of Elastic during the fourth quarter worth $25,000. SBI Securities Co. Ltd. acquired a new stake in Elastic during the 4th quarter worth $25,000. Fourth Dimension Wealth LLC bought a new position in Elastic during the fourth quarter worth about $26,000. Venturi Wealth Management LLC grew its stake in 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. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock worth $28,000 after acquiring an additional 158 shares in the last quarter. Institutional investors and hedge funds 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.