Slow Capital Inc. Takes $5.04 Million Position in Elastic (NYSE:ESTC)

Slow Capital Inc. bought a new position in shares of Elastic (NYSE:ESTC) in the 4th quarter, Holdings Channel reports. The fund bought 50,861 shares of the company’s stock, valued at approximately $5,039,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ESTC. M&T Bank Corp boosted its holdings in shares of Elastic by 3.1% during the third quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock worth $357,000 after acquiring an additional 139 shares during the period. QRG Capital Management Inc. boosted its stake in shares of 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 buying an additional 201 shares during the period. Oppenheimer & Co. Inc. grew its position in Elastic by 3.3% during the third quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company’s stock worth $523,000 after buying an additional 219 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in Elastic during the 4th quarter worth $25,000. Finally, Y Intercept Hong Kong Ltd grew its holdings in shares of Elastic by 12.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,985 shares of the company’s stock worth $229,000 after purchasing an additional 332 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Trading Up 0.6 %

Shares of ESTC stock opened at $105.04 on Tuesday. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. 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 50 day simple moving average of $103.34 and a two-hundred day simple moving average of $95.05. The company has a market cap of $10.88 billion, a P/E ratio of 190.98 and a beta of 1.06.

Wall Street Analyst Weigh In

A number of research firms recently commented on ESTC. Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a research note on Friday, November 22nd. Wells Fargo & Company boosted their target price on shares of Elastic from $100.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Oppenheimer increased their price target on shares of Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Piper Sandler boosted their price objective on shares of Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Truist Financial raised their target price on Elastic from $105.00 to $135.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Elastic currently has a consensus rating of “Moderate Buy” and an average target price of $125.35.

Insider Transactions at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 7,017 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total transaction of $758,678.04. Following the transaction, the chief executive officer now owns 395,326 shares in the company, valued at approximately $42,742,647.12. This represents a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Shay Banon sold 150,000 shares of Elastic stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $110.92, for a total value of $16,638,000.00. Following the transaction, the chief technology officer now owns 2,604,978 shares of the company’s stock, valued at $288,944,159.76. This trade represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,162 shares of company stock valued at $18,637,562 in the last quarter. 15.90% of the stock is currently owned by company insiders.

Elastic Company 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.