Washington Harbour Partners LP Has $2.23 Million Stock Position in Elastic (NYSE:ESTC)

Washington Harbour Partners LP lowered its position in shares of Elastic (NYSE:ESTC - Free Report) by 22.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,100 shares of the company's stock after selling 8,200 shares during the period. Elastic comprises about 4.0% of Washington Harbour Partners LP's portfolio, making the stock its 9th biggest position. Washington Harbour Partners LP's holdings in Elastic were worth $2,234,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC increased its position in Elastic by 25.6% during the 3rd quarter. FMR LLC now owns 5,475,297 shares of the company's stock valued at $420,284,000 after purchasing an additional 1,115,750 shares during the period. 1832 Asset Management L.P. acquired a new stake in shares of Elastic during the second quarter worth $248,335,000. Atreides Management LP raised its stake in Elastic by 57.2% during the third 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 last quarter. State Street Corp lifted its holdings in Elastic by 2.3% in the third quarter. State Street Corp now owns 1,437,243 shares of the company's stock valued at $110,323,000 after buying an additional 31,663 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in Elastic during the second quarter valued at $102,169,000. 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 Elastic stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total value of $1,240,884.30. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Janesh Moorjani sold 6,941 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $487,605.25. Following the transaction, the chief financial officer now directly owns 195,550 shares of the company's stock, valued at $13,737,387.50. This represents a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 198,551 shares of company stock valued at $20,506,656 in the last 90 days. 15.90% of the stock is currently owned by corporate insiders.

Elastic Stock Down 0.5 %

Shares of ESTC stock traded down $0.55 on Friday, hitting $110.98. The stock had a trading volume of 1,585,408 shares, compared to its average volume of 1,345,056. 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 business has a 50 day moving average of $88.12 and a 200 day moving average of $97.30. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The stock has a market cap of $11.50 billion, a price-to-earnings ratio of 202.75 and a beta of 1.02.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ESTC. Bank of America lifted their price objective on Elastic from $94.00 to $120.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Guggenheim lifted 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. DA Davidson raised their price objective on shares of Elastic from $75.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Rosenblatt Securities reiterated a "buy" rating and issued a $120.00 price objective on shares of Elastic in a research note on Wednesday, November 20th. Finally, Oppenheimer increased their target price on shares of Elastic from $125.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, November 22nd. Five 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $126.33.

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.