Stratos Wealth Partners LTD. Invests $444,000 in Elastic (NYSE:ESTC)

Stratos Wealth Partners LTD. purchased a new position in shares of Elastic (NYSE:ESTC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,477 shares of the company’s stock, valued at approximately $444,000.

Several other large investors have also bought and sold shares of the business. FMR LLC raised its position in shares of Elastic by 25.6% in the 3rd quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after acquiring an additional 1,115,750 shares during the period. Atreides Management LP increased its stake in Elastic by 57.2% in the third quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock valued at $129,555,000 after purchasing an additional 614,309 shares in the last quarter. State Street Corp raised its holdings in Elastic by 2.3% in the third quarter. State Street Corp now owns 1,437,243 shares of the company’s stock worth $110,323,000 after purchasing an additional 31,663 shares during the period. Geode Capital Management LLC raised its holdings in Elastic by 3.7% in the third quarter. Geode Capital Management LLC now owns 1,394,336 shares of the company’s stock worth $107,058,000 after purchasing an additional 50,355 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Elastic by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock worth $41,901,000 after purchasing an additional 14,590 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ESTC has been the subject of a number of recent analyst reports. Robert W. Baird upgraded shares of Elastic from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $95.00 to $135.00 in a research report on Friday, November 22nd. Scotiabank dropped their price target on Elastic from $135.00 to $127.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, January 21st. Bank of America lifted their price objective on Elastic from $94.00 to $120.00 and gave the company a “neutral” rating in a 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, Oppenheimer lifted their price target on shares of Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Elastic has an average rating of “Moderate Buy” and an average target price of $125.35.

Insider Activity at Elastic

In other Elastic news, insider Carolyn Herzog sold 11,145 shares of the company’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 value of $1,240,884.30. Following the sale, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $758,678.04. Following the transaction, the chief executive officer now owns 395,326 shares of the company’s stock, valued at $42,742,647.12. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 168,162 shares of company stock valued at $18,637,562. 15.90% of the stock is owned by corporate insiders.

Elastic Stock Down 0.9 %

NYSE:ESTC opened at $115.34 on Wednesday. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06. The firm has a market capitalization of $11.95 billion, a price-to-earnings ratio of 209.71 and a beta of 1.07. 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’s 50 day moving average price is $105.28 and its two-hundred day moving average price is $94.98.

Elastic Company 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.