Exane Asset Management Increases Stake in Elastic (NYSE:ESTC)

Exane Asset Management increased its holdings in Elastic (NYSE:ESTC) by 97.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 27,704 shares of the company’s stock after acquiring an additional 13,704 shares during the quarter. Elastic accounts for 1.6% of Exane Asset Management’s investment portfolio, making the stock its 14th largest holding. Exane Asset Management’s holdings in Elastic were worth $2,842,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. M&T Bank Corp grew its holdings in shares of Elastic by 3.1% in the third quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock worth $357,000 after purchasing an additional 139 shares during the last quarter. QRG Capital Management Inc. boosted its position in Elastic by 7.0% during the 3rd 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 holdings in Elastic by 3.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company’s stock worth $523,000 after acquiring an additional 219 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Elastic in the fourth quarter valued at about $25,000. Finally, Y Intercept Hong Kong Ltd increased its position in shares of Elastic by 12.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,985 shares of the company’s stock valued at $229,000 after acquiring an additional 332 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Insider Transactions at Elastic

In related news, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 395,326 shares in the company, valued at $42,742,647.12. The trade was a 1.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Carolyn Herzog sold 11,145 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 92,011 shares in the company, valued at $10,244,504.74. This trade represents a 10.80 % decrease in their ownership of the stock. 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 owned by insiders.

Analyst Ratings Changes

ESTC has been the topic of several recent analyst reports. Baird R W raised Elastic from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. DA Davidson lifted their price objective on Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Scotiabank decreased their target price on Elastic from $135.00 to $127.00 and set a “sector outperform” rating for the company in a report on Tuesday, January 21st. Stifel Nicolaus raised their price target on Elastic from $98.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, Oppenheimer boosted their price objective on shares of Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $125.35.

Elastic Stock Down 1.2 %

Shares of NYSE:ESTC opened at $112.92 on Friday. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 205.31 and a beta of 1.07. The stock has a fifty day simple moving average of $105.10 and a two-hundred day simple moving average of $95.20. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70.

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.