Verition Fund Management LLC lowered its stake in Elastic (NYSE:ESTC - Free Report) by 26.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 57,643 shares of the company's stock after selling 20,276 shares during the quarter. Verition Fund Management LLC owned about 0.06% of Elastic worth $4,425,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in ESTC. Blueshift Asset Management LLC bought a new stake in shares of Elastic in the third quarter worth about $585,000. Fifth Third Wealth Advisors LLC acquired a new stake in Elastic during the 3rd quarter worth approximately $1,262,000. Charles Schwab Investment Management Inc. lifted its stake in Elastic by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company's stock valued at $41,901,000 after buying an additional 14,590 shares in the last quarter. WD Rutherford LLC acquired a new position in shares of Elastic in the second quarter valued at approximately $422,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Elastic during the second quarter worth $102,169,000. 97.03% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have issued reports on ESTC shares. Guggenheim increased their target price on Elastic from $100.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, November 22nd. TD Cowen decreased their price objective on Elastic from $110.00 to $80.00 and set a "hold" rating for the company in a report on Friday, August 30th. DA Davidson boosted their target price on Elastic from $75.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. 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 research note on Friday, November 22nd. Finally, Bank of America boosted their price objective on shares of Elastic from $94.00 to $120.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Elastic has a consensus rating of "Moderate Buy" and an average target price of $126.33.
Get Our Latest Report on Elastic
Elastic Stock Performance
NYSE ESTC traded up $3.33 on Wednesday, reaching $116.27. The stock had a trading volume of 1,756,925 shares, compared to its average volume of 1,338,024. Elastic has a 1-year low of $69.00 and a 1-year high of $136.06. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The company has a market cap of $12.05 billion, a P/E ratio of 211.31 and a beta of 1.02. The firm has a fifty day moving average of $86.68 and a two-hundred day moving average of $97.06.
Insider Buying and Selling
In other Elastic news, insider Carolyn Herzog sold 11,145 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the sale, the insider now directly owns 92,011 shares in the company, valued at $10,244,504.74. This represents a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Shay Banon sold 150,000 shares of Elastic stock in a transaction that occurred 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 completion of the transaction, the chief technology officer now directly owns 2,604,978 shares in the company, valued at $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. Over the last three months, insiders have sold 198,551 shares of company stock valued at $20,506,656. 15.90% of the stock is owned by company insiders.
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.
Recommended Stories
Before you consider Elastic, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Elastic wasn't on the list.
While Elastic currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
