Sumitomo Mitsui Trust Group Inc. bought a new position in Elastic (NYSE:ESTC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,330 shares of the company's stock, valued at approximately $231,000.
A number of other institutional investors also recently modified their holdings of ESTC. M&T Bank Corp grew its stake in shares of Elastic by 3.1% in the 3rd quarter. M&T Bank Corp now owns 4,652 shares of the company's stock valued at $357,000 after buying an additional 139 shares in the last quarter. QRG Capital Management Inc. lifted its stake in Elastic by 7.0% in the third quarter. QRG Capital Management Inc. now owns 3,063 shares of the company's stock valued at $235,000 after acquiring an additional 201 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in Elastic by 3.3% in the third quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company's stock worth $523,000 after acquiring an additional 219 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Elastic during the 4th quarter worth $25,000. Finally, Y Intercept Hong Kong Ltd lifted its stake in shares of Elastic by 12.5% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,985 shares of the company's stock valued at $229,000 after purchasing an additional 332 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.
Elastic Trading Down 2.8 %
NYSE:ESTC traded down $3.22 on Wednesday, hitting $111.69. 629,203 shares of the stock were exchanged, compared to its average volume of 1,225,312. 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 stock has a market capitalization of $11.57 billion, a price-to-earnings ratio of 203.07 and a beta of 1.07. The company's 50-day moving average price is $105.81 and its 200 day moving average price is $95.25. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06.
Analyst Upgrades and Downgrades
Several research firms have commented on ESTC. Scotiabank lowered their target price on shares of Elastic from $135.00 to $127.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, January 21st. Guggenheim raised their price objective on Elastic from $100.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, November 22nd. DA Davidson boosted their target price on Elastic from $75.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Baird R W upgraded Elastic from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Finally, Rosenblatt Securities restated a "buy" rating and issued a $120.00 price objective on shares of Elastic in a research note on Wednesday, November 20th. Seven investment 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.com, Elastic has an average rating of "Moderate Buy" and an average target price of $125.35.
Read Our Latest Report on Elastic
Insiders Place Their Bets
In other Elastic news, CTO Shay Banon sold 150,000 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total value of $16,638,000.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the firm's 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 sale, the chief executive officer now owns 395,326 shares of the company's stock, valued at approximately $42,742,647.12. This represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,162 shares of company stock worth $18,637,562. Company insiders own 15.90% of the company's stock.
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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