14,380 Shares in Elastic (NYSE:ESTC) Bought by 272 Capital LP

272 Capital LP acquired a new stake in Elastic (NYSE:ESTC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,380 shares of the company’s stock, valued at approximately $1,104,000.

A number of other large investors have also modified their holdings of the company. Asset Dedication LLC grew its position in shares of Elastic by 1,333.3% in the second quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after purchasing an additional 280 shares during the period. AlphaCentric Advisors LLC acquired a new stake in shares of Elastic in the second quarter worth approximately $40,000. Quarry LP acquired a new stake in shares of Elastic in the second quarter worth approximately $40,000. Signaturefd LLC increased its position in shares of Elastic by 44.1% during the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after purchasing an additional 119 shares in the last quarter. Finally, Headlands Technologies LLC raised its stake in Elastic by 75.4% in the 2nd quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock valued at $72,000 after purchasing an additional 270 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Price Performance

Shares of ESTC opened at $107.26 on Friday. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $11.12 billion, a price-to-earnings ratio of 195.02 and a beta of 1.02. The firm’s fifty day simple moving average is $91.22 and its 200-day simple moving average is $97.28.

Insider Transactions at Elastic

In other news, CTO Shay Banon sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the transaction, the chief technology officer now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Carolyn Herzog sold 11,145 shares of the company’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 completion of the sale, the insider now owns 92,011 shares of the company’s stock, valued at approximately $10,244,504.74. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 15.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Royal Bank of Canada increased their price objective on shares of Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Bank of America lifted their price objective on Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. William Blair upgraded Elastic from a “market perform” rating to an “outperform” rating in a report on Monday, October 14th. Piper Sandler lifted their price target on Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Truist Financial upped their price objective on shares of Elastic from $105.00 to $135.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $126.33.

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.