4,897 Shares in Elastic (NYSE:ESTC) Purchased by Perigon Wealth Management LLC

Perigon Wealth Management LLC acquired a new stake in Elastic (NYSE:ESTC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,897 shares of the company's stock, valued at approximately $490,000.

A number of other hedge funds also recently modified their holdings of the stock. FMR LLC lifted its position in Elastic by 25.6% during the third quarter. FMR LLC now owns 5,475,297 shares of the company's stock worth $420,284,000 after purchasing an additional 1,115,750 shares during the period. Atreides Management LP boosted its position in Elastic by 57.2% during the 3rd quarter. Atreides Management LP now owns 1,687,791 shares of the company's stock worth $129,555,000 after buying an additional 614,309 shares during the period. State Street Corp lifted its holdings in shares of 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 purchasing an additional 31,663 shares during the period. Geode Capital Management LLC grew its position in shares of Elastic by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,394,336 shares of the company's stock valued at $107,058,000 after buying an additional 50,355 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Elastic by 2.7% during the 3rd 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 during the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

Wall Street Analyst Weigh In

ESTC has been the topic of a number of research analyst reports. Scotiabank cut their price target on Elastic from $135.00 to $127.00 and set a "sector outperform" rating on the stock in a report on Tuesday, January 21st. The Goldman Sachs Group raised their price target on shares of Elastic from $99.00 to $113.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their price objective on shares of Elastic from $100.00 to $130.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. Morgan Stanley started coverage on Elastic in a research note on Tuesday, December 17th. They issued an "overweight" rating and a $130.00 target price for the company. Finally, Royal Bank of Canada upped their price target on Elastic from $110.00 to $130.00 and gave the stock an "outperform" rating in a research note on Friday, November 22nd. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $125.35.

Elastic Price Performance

Shares of ESTC stock traded down $0.60 during trading on Wednesday, hitting $114.85. The company had a trading volume of 755,866 shares, compared to its average volume of 1,297,912. The stock's 50-day moving average is $105.01 and its two-hundred day moving average is $95.07. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 208.82 and a beta of 1.07. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06.

Insider Activity

In related news, CEO Ashutosh Kulkarni sold 7,017 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total transaction 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 $42,742,647.12. This represents a 1.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Shay Banon sold 150,000 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the sale, 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. In the last three months, insiders have sold 168,162 shares of company stock worth $18,637,562. 15.90% of the stock is currently owned by insiders.

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.