Geode Capital Management LLC Boosts Holdings in Elastic (NYSE:ESTC)

Geode Capital Management LLC increased its stake in shares of Elastic (NYSE:ESTC - Free Report) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,394,336 shares of the company's stock after acquiring an additional 50,355 shares during the period. Geode Capital Management LLC owned about 1.36% of Elastic worth $107,058,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ESTC. Blueshift Asset Management LLC purchased a new stake in shares of Elastic during the 3rd quarter worth about $585,000. Charles Schwab Investment Management Inc. boosted its position in Elastic by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company's stock worth $41,901,000 after purchasing an additional 14,590 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in Elastic in the third quarter valued at approximately $1,262,000. WD Rutherford LLC purchased a new stake in shares of Elastic in the second quarter valued at approximately $422,000. Finally, Daventry Group LP increased its position in shares of Elastic by 8.6% in the second quarter. Daventry Group LP now owns 316,975 shares of the company's stock valued at $36,107,000 after buying an additional 25,008 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Carolyn Herzog sold 11,145 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total value of $1,240,884.30. Following the sale, the insider now directly owns 92,011 shares of the company's stock, valued at approximately $10,244,504.74. The trade was a 10.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Shay Banon sold 150,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the transaction, the chief technology officer now directly owns 2,604,978 shares of the company's stock, valued at $288,944,159.76. The trade was a 5.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.90% of the company's stock.

Elastic Trading Down 0.2 %

ESTC traded down $0.20 during trading hours on Thursday, reaching $103.71. The company's stock had a trading volume of 1,183,132 shares, compared to its average volume of 1,349,045. The business's 50-day moving average is $92.89 and its 200-day moving average is $97.32. 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 stock has a market cap of $10.75 billion, a PE ratio of 188.56 and a beta of 1.02. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. TD Cowen dropped their price target on shares of Elastic from $110.00 to $80.00 and set a "hold" rating on the stock in a research note on Friday, August 30th. Canaccord Genuity Group lifted their target price on shares of Elastic from $110.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. DA Davidson upped their price target on shares of Elastic from $75.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Wells Fargo & Company raised their price target on shares of Elastic from $100.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group boosted their price objective on Elastic from $99.00 to $113.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.