UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $30.98 Million Stake in Elastic (NYSE:ESTC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in Elastic (NYSE:ESTC) by 0.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 403,599 shares of the company’s stock after selling 725 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.39% of Elastic worth $30,980,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ESTC. Asset Dedication LLC lifted its holdings 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 in the last quarter. AlphaCentric Advisors LLC acquired a new stake in Elastic in the 2nd quarter valued at approximately $40,000. Quarry LP bought a new stake in Elastic in the 2nd quarter valued at approximately $40,000. Signaturefd LLC boosted its position in Elastic by 44.1% during the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after acquiring an additional 119 shares during the last quarter. Finally, Eastern Bank bought a new position in shares of Elastic during the 3rd quarter worth approximately $61,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on ESTC. Bank of America increased their target price on shares of Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. William Blair upgraded shares of Elastic from a “market perform” rating to an “outperform” rating in a research note on Monday, October 14th. Baird R W raised Elastic from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Oppenheimer upped their target price on Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised their price target on Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research note 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $126.33.

Elastic Price Performance

Elastic stock opened at $116.27 on Thursday. The company has a market capitalization of $12.05 billion, a price-to-earnings ratio of 211.40 and a beta of 1.02. The stock’s 50 day moving average is $87.44 and its 200-day moving average is $97.20. 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 has a 12 month low of $69.00 and a 12 month high of $136.06.

Insider Buying and Selling at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 19,649 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $1,380,342.25. Following the completion of the sale, the chief executive officer now owns 432,648 shares of the company’s stock, valued at $30,393,522. The trade was a 4.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Carolyn Herzog sold 11,145 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the transaction, the insider now directly owns 92,011 shares in the company, valued at $10,244,504.74. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 198,551 shares of company stock valued at $20,506,656 in the last ninety days. 15.90% of the stock is currently owned by corporate insiders.

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.