Elastic (NYSE:ESTC) Trading Up 5.4% – Time to Buy?

Elastic (NYSE:ESTC)’s stock price was up 5.4% on Tuesday . The stock traded as high as $107.97 and last traded at $110.56. Approximately 130,676 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 1,149,269 shares. The stock had previously closed at $104.92.

Analyst Ratings Changes

A number of equities analysts have commented on ESTC shares. Bank of America boosted their price target on shares of Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Guggenheim lifted their price target on shares of Elastic from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Robert W. Baird upgraded shares of Elastic from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $95.00 to $135.00 in a research report on Friday, November 22nd. Needham & Company LLC reissued a “hold” rating on shares of Elastic in a research note on Friday, November 22nd. Finally, Barclays raised their price target on shares of Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.35.

Elastic Stock Up 10.2 %

The company has a market cap of $11.98 billion, a PE ratio of 212.55 and a beta of 1.06. The company has a fifty day moving average of $103.34 and a two-hundred day moving average of $95.05. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99.

Insider Buying and Selling

In related news, insider Carolyn Herzog sold 11,145 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 92,011 shares of the company’s stock, valued at $10,244,504.74. This trade represents a 10.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 395,326 shares of the company’s stock, valued at approximately $42,742,647.12. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,162 shares of company stock valued at $18,637,562. Company insiders own 15.90% of the company’s stock.

Institutional Trading of Elastic

Several institutional investors and hedge funds have recently modified their holdings of the stock. Exane Asset Management raised its holdings in shares of Elastic by 97.9% in the 4th quarter. Exane Asset Management now owns 27,704 shares of the company’s stock valued at $2,842,000 after purchasing an additional 13,704 shares in the last quarter. Lecap Asset Management Ltd. boosted its position in shares of Elastic by 146.7% in the 4th quarter. Lecap Asset Management Ltd. now owns 24,969 shares of the company’s stock worth $2,474,000 after purchasing an additional 14,846 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Elastic by 22.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,639 shares of the company’s stock worth $1,054,000 after buying an additional 1,924 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in Elastic during the 4th quarter valued at about $231,000. Finally, Y.D. More Investments Ltd boosted its holdings in Elastic by 9.9% in the fourth quarter. Y.D. More Investments Ltd now owns 29,597 shares of the company’s stock worth $2,932,000 after acquiring an additional 2,660 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

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.