Elastic (NYSE:ESTC) Short Interest Update

Elastic (NYSE:ESTC - Get Free Report) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 2,480,000 shares, a growth of 7.8% from the November 30th total of 2,300,000 shares. Based on an average trading volume of 1,380,000 shares, the days-to-cover ratio is presently 1.8 days. Currently, 2.8% of the company's stock are sold short.

Elastic Trading Down 1.2 %

Elastic stock traded down $1.20 during trading hours on Wednesday, reaching $99.08. 1,028,220 shares of the company's stock traded hands, compared to its average volume of 1,338,754. The firm has a market capitalization of $10.27 billion, a price-to-earnings ratio of 180.15 and a beta of 1.02. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The firm's 50 day moving average is $97.08 and its 200-day moving average is $96.77.

Insider Transactions at Elastic

In related news, 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 completion of the sale, the chief executive officer now directly owns 395,326 shares in the company, valued at approximately $42,742,647.12. The trade was a 1.74 % 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 150,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $110.92, for a total value of $16,638,000.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,162 shares of company stock valued at $18,637,562. 15.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Elastic

Several large investors have recently bought and sold shares of the business. FMR LLC raised its position in shares of Elastic by 25.6% during the 3rd quarter. FMR LLC now owns 5,475,297 shares of the company's stock valued at $420,284,000 after acquiring an additional 1,115,750 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in Elastic in the second quarter valued at about $248,335,000. Atreides Management LP lifted its stake in 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 buying an additional 614,309 shares during the period. State Street Corp boosted its holdings in Elastic by 2.3% during the third quarter. State Street Corp now owns 1,437,243 shares of the company's stock worth $110,323,000 after buying an additional 31,663 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Elastic by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,394,336 shares of the company's stock worth $107,058,000 after buying an additional 50,355 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on ESTC shares. Royal Bank of Canada raised their price target on shares of Elastic from $110.00 to $130.00 and gave the stock an "outperform" rating in a research report on Friday, November 22nd. William Blair raised Elastic from a "market perform" rating to an "outperform" rating in a report on Monday, October 14th. Scotiabank raised their price objective on Elastic from $92.00 to $135.00 and gave the stock a "sector outperform" rating in a research report on Friday, November 22nd. Rosenblatt Securities restated a "buy" rating and set a $120.00 price objective on shares of Elastic in a research report on Wednesday, November 20th. Finally, 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 target on the stock. Six research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.50.

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.

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