Handelsbanken Fonder AB Buys 3,800 Shares of Elastic (NYSE:ESTC)

Handelsbanken Fonder AB boosted its stake in shares of Elastic (NYSE:ESTC) by 20.2% during the fourth quarter, Holdings Channel reports. The fund owned 22,600 shares of the company’s stock after acquiring an additional 3,800 shares during the period. Handelsbanken Fonder AB’s holdings in Elastic were worth $2,239,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. bought a new stake in Elastic during the 4th quarter worth about $25,000. Venturi Wealth Management LLC lifted its position in Elastic by 793.3% during the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares during the period. Global Retirement Partners LLC lifted its position in Elastic by 1,065.2% during the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock valued at $53,000 after purchasing an additional 490 shares during the period. FNY Investment Advisers LLC lifted its position in 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 purchasing an additional 349 shares during the period. Finally, Stephens Consulting LLC acquired a new position in Elastic during the 4th quarter valued at about $198,000. Institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Morgan Stanley assumed coverage on shares of Elastic in a research report on Tuesday, December 17th. They set an “overweight” rating and a $130.00 target price on the stock. Cantor Fitzgerald assumed coverage on shares of Elastic in a research report on Friday, January 17th. They set a “neutral” rating and a $108.00 target price on the stock. Oppenheimer upped their target price 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. The Goldman Sachs Group upped their target price on shares of Elastic from $99.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Wells Fargo & Company upped 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. Seven investment 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.com, Elastic currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.35.

Insider Transactions at Elastic

In other news, CEO Ashutosh Kulkarni sold 7,017 shares of the firm’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 transaction of $758,678.04. Following the completion of the transaction, the chief executive officer now directly owns 395,326 shares of the company’s stock, valued at $42,742,647.12. This trade represents a 1.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 15.90% of the company’s stock.

Elastic Stock Performance

Shares of ESTC stock opened at $104.92 on Tuesday. 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 company has a market capitalization of $10.87 billion, a P/E ratio of 190.77 and a beta of 1.07. The company’s 50 day moving average price is $106.00 and its two-hundred day moving average price is $95.42. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06.

About Elastic

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.