Avitas Wealth Management LLC Takes $214,000 Position in Elastic (NYSE:ESTC)

Avitas Wealth Management LLC purchased a new position in shares of Elastic (NYSE:ESTC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,159 shares of the company’s stock, valued at approximately $214,000.

A number of other hedge funds have also recently added to or reduced their stakes in ESTC. Geneos Wealth Management Inc. purchased a new position in Elastic in the 4th quarter valued at $25,000. FNY Investment Advisers LLC raised its position in Elastic by 87.3% in the fourth quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock valued at $74,000 after purchasing an additional 349 shares during the period. Eastern Bank purchased a new stake in Elastic in the third quarter valued at $61,000. Stephens Consulting LLC purchased a new stake in Elastic in the fourth quarter valued at $198,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Elastic during the fourth quarter worth $202,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 7,017 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total value of $758,678.04. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Carolyn Herzog sold 11,145 shares of the company’s 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 completion of the sale, the insider now directly owns 92,011 shares of the company’s stock, valued at $10,244,504.74. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,162 shares of company stock valued at $18,637,562. Company insiders own 15.90% of the company’s stock.

Elastic Stock Down 0.5 %

ESTC stock opened at $114.85 on Thursday. The stock has a market cap of $11.90 billion, a PE ratio of 208.82 and a beta of 1.07. The firm’s 50-day simple moving average is $105.01 and its 200 day simple moving average is $95.07. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ESTC shares. William Blair upgraded Elastic from a “market perform” rating to an “outperform” rating in a research note on Monday, October 14th. Needham & Company LLC restated a “hold” rating on shares of Elastic in a research note on Friday, November 22nd. Royal Bank of Canada raised their target price on shares of Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Bank of America upped their price target on shares of Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Barclays lifted their price target on Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Seven investment 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 MarketBeat, Elastic has a consensus rating of “Moderate Buy” and a consensus price target of $125.35.

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.