Stephens Consulting LLC Purchases Shares of 2,000 Elastic (NYSE:ESTC)

Stephens Consulting LLC acquired a new position in shares of Elastic (NYSE:ESTC) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,000 shares of the company’s stock, valued at approximately $198,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ESTC. Geneos Wealth Management Inc. purchased a new stake in Elastic during the fourth quarter valued at $25,000. FNY Investment Advisers LLC raised its position in shares of Elastic by 87.3% during the 4th quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock valued at $74,000 after buying an additional 349 shares in the last quarter. Eastern Bank bought a new position in shares of Elastic in the 3rd quarter valued at about $61,000. Janney Montgomery Scott LLC purchased a new position in Elastic in the fourth quarter worth about $202,000. Finally, Pacer Advisors Inc. increased its stake in Elastic by 30.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,408 shares of the company’s stock worth $239,000 after acquiring an additional 566 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Carolyn Herzog sold 11,145 shares of the firm’s stock in a transaction on 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 owns 92,011 shares in the company, valued at approximately $10,244,504.74. This trade represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value of $758,678.04. Following the transaction, the chief executive officer now directly owns 395,326 shares of the company’s stock, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,162 shares of company stock worth $18,637,562. 15.90% of the stock is owned by corporate insiders.

Elastic Stock Performance

Shares of NYSE:ESTC opened at $111.65 on Tuesday. 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 company has a market capitalization of $11.57 billion, a price-to-earnings ratio of 202.99 and a beta of 1.07. The firm has a 50 day moving average of $104.84 and a 200 day moving average of $94.90. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ESTC. Wedbush cut Elastic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Oppenheimer lifted their price objective 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. Rosenblatt Securities reissued a “buy” rating and issued a $120.00 target price on shares of Elastic in a research note on Wednesday, November 20th. The Goldman Sachs Group lifted 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, William Blair raised shares of Elastic from a “market perform” rating to an “outperform” rating in a research note on Monday, October 14th. Seven 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. Based on data from MarketBeat, Elastic has an average rating of “Moderate Buy” and a consensus price target of $125.35.

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.