Elastic (NYSE:ESTC) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC cut its stake in shares of Elastic (NYSE:ESTC) by 14.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,707 shares of the company’s stock after selling 3,959 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Elastic were worth $2,349,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in Elastic by 16.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 216,287 shares of the company’s stock valued at $24,640,000 after acquiring an additional 30,810 shares during the last quarter. ProShare Advisors LLC grew its stake in Elastic by 28.7% in the 2nd quarter. ProShare Advisors LLC now owns 2,873 shares of the company’s stock valued at $327,000 after acquiring an additional 641 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Elastic in the 2nd quarter valued at about $683,000. Creative Planning grew its stake in Elastic by 21.5% in the 2nd quarter. Creative Planning now owns 9,413 shares of the company’s stock valued at $1,072,000 after acquiring an additional 1,668 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Elastic during the 2nd quarter worth about $40,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Elastic

In other news, insider Carolyn Herzog sold 11,145 shares of the firm’s stock in a transaction that occurred 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 395,326 shares of the company’s stock, valued at $42,742,647.12. The trade was a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,162 shares of company stock valued at $18,637,562 over the last 90 days. 15.90% of the stock is owned by corporate insiders.

Elastic Stock Up 0.3 %

Shares of NYSE:ESTC opened at $104.39 on Monday. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06. The company has a 50 day moving average of $102.96 and a two-hundred day moving average of $95.15. The company has a market capitalization of $10.82 billion, a price-to-earnings ratio of 189.81 and a beta of 1.06.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ESTC. Morgan Stanley began coverage on shares of Elastic in a research note on Tuesday, December 17th. They set an “overweight” rating and a $130.00 price target on the stock. Stifel Nicolaus raised their price target on shares of Elastic from $98.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Baird R W raised shares of Elastic from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Piper Sandler raised their price target on shares of Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group raised their price target on shares of Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Seven investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.35.

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.