Principal Financial Group Inc. Sells 68,506 Shares of Elastic (NYSE:ESTC)

Principal Financial Group Inc. cut its holdings in Elastic (NYSE:ESTC - Free Report) by 90.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,058 shares of the company's stock after selling 68,506 shares during the quarter. Principal Financial Group Inc.'s holdings in Elastic were worth $542,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Asset Dedication LLC boosted its stake in shares of Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company's stock worth $34,000 after acquiring an additional 280 shares in the last quarter. Quarry LP purchased a new position in Elastic in the 2nd quarter worth about $40,000. Eastern Bank acquired a new stake in Elastic during the 3rd quarter worth about $61,000. Headlands Technologies LLC raised its holdings in Elastic by 75.4% during the 2nd quarter. Headlands Technologies LLC now owns 628 shares of the company's stock worth $72,000 after buying an additional 270 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Elastic by 21.2% in the third quarter. Blue Trust Inc. now owns 2,582 shares of the company's stock worth $198,000 after buying an additional 452 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Elastic news, 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 value of $16,638,000.00. Following the completion of the sale, the chief technology officer now directly owns 2,604,978 shares of the company's stock, 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, insider Carolyn Herzog sold 11,145 shares of the business's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the transaction, the insider now owns 92,011 shares in the company, 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. Insiders sold a total of 168,162 shares of company stock valued at $18,637,562 in the last quarter. Insiders own 15.90% of the company's stock.

Analyst Upgrades and Downgrades

ESTC has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on shares of Elastic from $100.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. Jefferies Financial Group raised their target price on Elastic from $110.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, November 22nd. Wedbush lowered Elastic from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. William Blair upgraded Elastic from a "market perform" rating to an "outperform" rating in a research report on Monday, October 14th. Finally, Canaccord Genuity Group upped their target price on Elastic from $110.00 to $130.00 and gave the company a "buy" rating in a report on Friday, November 22nd. Six 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's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $126.50.

Elastic Stock Performance

Shares of Elastic stock traded up $0.20 on Monday, reaching $101.60. The stock had a trading volume of 1,121,848 shares, compared to its average volume of 1,158,849. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The business's 50-day moving average price is $98.81 and its two-hundred day moving average price is $96.49. The stock has a market cap of $10.53 billion, a P/E ratio of 184.73 and a beta of 1.06. Elastic has a fifty-two week low of $69.00 and a fifty-two week 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.