State Street Corp Acquires 31,663 Shares of Elastic (NYSE:ESTC)

State Street Corp increased its position in shares of Elastic (NYSE:ESTC - Free Report) by 2.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,437,243 shares of the company's stock after acquiring an additional 31,663 shares during the quarter. State Street Corp owned 1.40% of Elastic worth $110,323,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Asset Dedication LLC boosted its position in shares of Elastic by 1,333.3% in the second quarter. Asset Dedication LLC now owns 301 shares of the company's stock worth $34,000 after buying an additional 280 shares during the period. AlphaCentric Advisors LLC acquired a new position in Elastic in the 2nd quarter valued at approximately $40,000. Quarry LP purchased a new stake in Elastic in the 2nd quarter worth approximately $40,000. Signaturefd LLC boosted its stake in shares of Elastic by 44.1% during the 2nd quarter. Signaturefd LLC now owns 389 shares of the company's stock valued at $44,000 after buying an additional 119 shares during the period. Finally, Headlands Technologies LLC grew its holdings in shares of Elastic by 75.4% during the 2nd quarter. Headlands Technologies LLC now owns 628 shares of the company's stock valued at $72,000 after acquiring an additional 270 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

Insiders Place Their Bets

In other Elastic news, insider Carolyn Herzog sold 11,145 shares of the business's stock in a transaction on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 150,000 shares of the firm's 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 owns 2,604,978 shares of the company's stock, valued at approximately $288,944,159.76. This trade represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 15.90% of the company's stock.

Elastic Price Performance

Shares of ESTC stock traded up $0.61 during trading hours on Monday, hitting $104.66. The company had a trading volume of 957,525 shares, compared to its average volume of 1,346,485. 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 firm has a market capitalization of $10.85 billion, a price-to-earnings ratio of 190.29 and a beta of 1.02. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06. The firm's fifty day moving average is $92.27 and its 200 day moving average is $97.30.

Analysts Set New Price Targets

A number of research analysts have commented on ESTC shares. Piper Sandler boosted their target price on Elastic from $100.00 to $130.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Rosenblatt Securities reissued a "buy" rating and issued a $120.00 price target on shares of Elastic in a research note on Wednesday, November 20th. William Blair upgraded shares of Elastic from a "market perform" rating to an "outperform" rating in a research note on Monday, October 14th. The Goldman Sachs Group increased their price target on shares of Elastic from $99.00 to $113.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Finally, DA Davidson lifted their price objective on shares of Elastic from $75.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $126.33.

About Elastic

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.