Elastic (NYSE:ESTC) Stake Raised by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in shares of Elastic (NYSE:ESTC) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,053 shares of the company’s stock after acquiring an additional 151 shares during the quarter. CIBC Asset Management Inc’s holdings in Elastic were worth $302,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic during the fourth quarter worth approximately $25,000. FNY Investment Advisers LLC lifted its position in Elastic by 87.3% in the 4th quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock worth $74,000 after buying an additional 349 shares in the last quarter. Stephens Consulting LLC acquired a new stake in shares of Elastic during the 4th quarter valued at $198,000. Janney Montgomery Scott LLC purchased a new position in shares of Elastic during the 4th quarter valued at $202,000. Finally, Avitas Wealth Management LLC acquired a new position in shares of Elastic in the fourth quarter worth $214,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Bank of America lifted their price objective on Elastic from $94.00 to $120.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Barclays lifted their price target on Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Piper Sandler increased their price objective on Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $120.00 target price on shares of Elastic in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group boosted their target price on shares of Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a research 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $125.35.

Insider Transactions at Elastic

In other news, CEO Ashutosh Kulkarni sold 7,017 shares of Elastic 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.90% of the company’s stock.

Elastic Price Performance

NYSE:ESTC opened at $104.92 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. Elastic has a one year low of $69.00 and a one year high of $136.06. The company has a fifty day moving average price of $106.00 and a 200 day moving average price of $95.42. The stock has a market cap of $10.87 billion, a P/E ratio of 190.77 and a beta of 1.07.

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.