Moody Aldrich Partners LLC Purchases Shares of 2,570 Elastic (NYSE:ESTC)

Moody Aldrich Partners LLC bought a new position in Elastic (NYSE:ESTC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,570 shares of the company's stock, valued at approximately $255,000.

A number of other large investors have also recently added to or reduced their stakes in ESTC. Dimensional Fund Advisors LP boosted its holdings in shares of Elastic by 16.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 216,287 shares of the company's stock worth $24,640,000 after buying an additional 30,810 shares during the period. ProShare Advisors LLC increased its stake in shares of Elastic by 28.7% during the second quarter. ProShare Advisors LLC now owns 2,873 shares of the company's stock worth $327,000 after purchasing an additional 641 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Elastic during the 2nd quarter worth approximately $683,000. Creative Planning boosted its stake in Elastic by 21.5% in the 2nd quarter. Creative Planning now owns 9,413 shares of the company's stock valued at $1,072,000 after purchasing an additional 1,668 shares during the period. Finally, Quarry LP acquired a new position in Elastic in the 2nd quarter valued at $40,000. Institutional investors own 97.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ESTC. Barclays boosted their price objective on shares of Elastic from $105.00 to $138.00 and gave the company an "overweight" rating in a report on Monday, November 25th. Robert W. Baird upgraded shares of Elastic from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $95.00 to $135.00 in a report on Friday, November 22nd. Truist Financial boosted their target price on Elastic from $105.00 to $135.00 and gave the stock a "buy" rating in a research note on Friday, November 22nd. Citigroup increased their target price on shares of Elastic from $136.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Finally, Morgan Stanley began coverage on Elastic in a research report on Tuesday, December 17th. They set an "overweight" rating and a $130.00 target price for the company. Seven 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. Based on data from MarketBeat.com, Elastic currently has an average rating of "Moderate Buy" and an average target price of $125.35.

Insider Activity at Elastic

In other news, CTO Shay Banon sold 150,000 shares of the 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 transaction, the chief technology officer now owns 2,604,978 shares in the company, valued at $288,944,159.76. This represents a 5.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total transaction of $758,678.04. Following the sale, the chief executive officer now owns 395,326 shares of the company's stock, valued at $42,742,647.12. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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.

Elastic Stock Down 2.3 %

Shares of NYSE ESTC traded down $2.61 during trading on Thursday, reaching $110.68. The company had a trading volume of 1,104,515 shares, compared to its average volume of 1,360,411. The business's 50-day moving average is $104.41 and its 200 day moving average is $95.14. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The stock has a market cap of $11.47 billion, a PE ratio of 201.23 and a beta of 1.06. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06.

Elastic 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.