Legato Capital Management LLC bought a new stake in shares of Elastic (NYSE:ESTC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,668 shares of the company's stock, valued at approximately $661,000.
Other large investors have also recently made changes to their positions in the company. M&T Bank Corp boosted its stake in Elastic by 3.1% in the 3rd 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. boosted its stake 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 purchasing an additional 201 shares during the period. Oppenheimer & Co. Inc. boosted its stake 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 during the period. Geneos Wealth Management Inc. bought a new position in Elastic in the 4th quarter worth about $25,000. Finally, Y Intercept Hong Kong Ltd boosted its stake in 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 purchasing an additional 332 shares during the period. 97.03% of the stock is owned by hedge funds and other institutional investors.
Elastic Stock Performance
Elastic stock traded down $4.38 during mid-day trading on Monday, reaching $113.21. 1,226,552 shares of the stock traded hands, compared to its average volume of 1,268,810. The stock has a market capitalization of $11.73 billion, a PE ratio of 205.83 and a beta of 1.07. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The business's 50-day moving average is $105.59 and its 200-day moving average is $95.16.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on ESTC shares. Morgan Stanley started coverage on Elastic in a research report on Tuesday, December 17th. They set an "overweight" rating and a $130.00 price target for the company. Wedbush downgraded Elastic from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Piper Sandler boosted their target price on Elastic from $100.00 to $130.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. Guggenheim boosted their target price on Elastic from $100.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, November 22nd. Finally, Stifel Nicolaus boosted their target price on Elastic from $98.00 to $132.00 and gave the stock a "buy" rating in a research report on Friday, November 22nd. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $125.35.
Read Our Latest Stock Analysis on Elastic
Insider Activity at Elastic
In related news, CTO Shay Banon sold 150,000 shares of the company's stock in a transaction 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 completion of the sale, the chief technology officer now owns 2,604,978 shares in the company, valued at approximately $288,944,159.76. This represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Carolyn Herzog sold 11,145 shares of the company's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total value of $1,240,884.30. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,162 shares of company stock worth $18,637,562. 15.90% of the stock is owned by insiders.
Elastic Profile
(
Free Report)
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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