Stephens Consulting LLC Acquires New Stake in Elastic (NYSE:ESTC)

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

A number of other hedge funds also recently bought and sold shares of ESTC. Slow Capital Inc. acquired a new position in shares of Elastic in the 4th quarter valued at $5,039,000. Wealth Effects LLC increased its holdings in Elastic by 25.4% in the fourth quarter. Wealth Effects LLC now owns 28,800 shares of the company’s stock valued at $2,854,000 after buying an additional 5,830 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in Elastic during the third quarter worth $585,000. Charles Schwab Investment Management Inc. raised its stake in shares of Elastic by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock worth $41,901,000 after buying an additional 14,590 shares during the last quarter. Finally, Bangor Savings Bank acquired a new stake in shares of Elastic in the fourth quarter valued at approximately $1,657,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ESTC. Royal Bank of Canada lifted their target price on shares of Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Bank of America lifted their price objective on shares of Elastic from $94.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Jefferies Financial Group raised their price objective on shares of Elastic from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Oppenheimer increased 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. Finally, Robert W. Baird raised shares of Elastic from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $95.00 to $135.00 in a report on Friday, November 22nd. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Elastic currently has an average rating of “Moderate Buy” and an average price target of $125.35.

Elastic Price Performance

Shares of ESTC opened at $111.65 on Tuesday. The business has a 50-day simple moving average of $104.84 and a two-hundred day simple moving average of $94.90. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. 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 stock has a market cap of $11.57 billion, a PE ratio of 202.99 and a beta of 1.07.

Insiders Place Their Bets

In related news, CEO Ashutosh Kulkarni sold 7,017 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was 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 owns 395,326 shares in the company, valued at approximately $42,742,647.12. This represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 value of $1,240,884.30. Following the completion of 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 168,162 shares of company stock worth $18,637,562. 15.90% of the stock is currently owned by insiders.

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.