Elastic (NYSE:ESTC) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lowered its stake in shares of Elastic (NYSE:ESTCFree Report) by 14.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 23,707 shares of the company’s stock after selling 3,959 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Elastic were worth $2,349,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Elastic by 16.6% in the second quarter. Dimensional Fund Advisors LP now owns 216,287 shares of the company’s stock worth $24,640,000 after purchasing an additional 30,810 shares during the period. ProShare Advisors LLC boosted its holdings in Elastic by 28.7% in the second quarter. ProShare Advisors LLC now owns 2,873 shares of the company’s stock worth $327,000 after purchasing an additional 641 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Elastic in the second quarter worth $683,000. Creative Planning boosted its holdings in Elastic by 21.5% in the second quarter. Creative Planning now owns 9,413 shares of the company’s stock worth $1,072,000 after purchasing an additional 1,668 shares during the period. Finally, Quarry LP acquired a new position in Elastic in the second quarter worth $40,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ESTC. DA Davidson lifted their price objective on shares of Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Canaccord Genuity Group lifted their price objective on shares of Elastic from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Elastic in a report on Wednesday, November 20th. Royal Bank of Canada raised their target price on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, Robert W. Baird upgraded Elastic from a “neutral” rating to an “outperform” rating and raised their target price for the company from $95.00 to $135.00 in a research note on Friday, November 22nd. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $125.35.

View Our Latest Research Report on ESTC

Insiders Place Their Bets

In other Elastic news, CEO Ashutosh Kulkarni sold 7,017 shares of the business’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 sale, the chief executive officer now directly owns 395,326 shares in the company, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 150,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the completion of the sale, the chief technology officer now owns 2,604,978 shares in the company, 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. Over the last three months, insiders have sold 168,162 shares of company stock worth $18,637,562. 15.90% of the stock is owned by corporate insiders.

Elastic Price Performance

Shares of NYSE ESTC opened at $104.39 on Monday. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The firm’s 50-day simple moving average is $102.96 and its 200 day simple moving average is $95.15. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The stock has a market cap of $10.82 billion, a P/E ratio of 189.81 and a beta of 1.06.

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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Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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