Elastic (NYSE:ESTC) Position Increased by Rhumbline Advisers

Rhumbline Advisers increased its stake in shares of Elastic (NYSE:ESTC) by 2.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 102,296 shares of the company’s stock after acquiring an additional 2,728 shares during the period. Rhumbline Advisers’ holdings in Elastic were worth $10,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in ESTC. Geneos Wealth Management Inc. bought a new position in shares of Elastic during the fourth quarter worth about $25,000. FNY Investment Advisers LLC boosted its stake in Elastic by 87.3% during the 4th quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock valued at $74,000 after purchasing an additional 349 shares during the period. Stephens Consulting LLC bought a new position in Elastic in the 4th quarter worth about $198,000. Janney Montgomery Scott LLC bought a new position in Elastic in the 4th quarter worth about $202,000. Finally, Avitas Wealth Management LLC acquired a new stake in shares of Elastic in the fourth quarter valued at approximately $214,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ESTC shares. Wells Fargo & Company increased their price objective on Elastic from $100.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Barclays increased their price target on Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Canaccord Genuity Group lifted their price objective on shares of Elastic from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Guggenheim increased their target price on shares of Elastic from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Elastic in a research note on Friday, November 22nd. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $125.35.

Elastic Stock Down 1.4 %

ESTC stock 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. The firm has a market capitalization of $10.87 billion, a P/E ratio of 190.77 and a beta of 1.07. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06. The company’s 50 day simple moving average is $106.00 and its 200-day simple moving average is $95.42.

Insiders Place Their Bets

In other news, CEO Ashutosh Kulkarni sold 7,017 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 395,326 shares of the company’s stock, valued at $42,742,647.12. This trade represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 15.90% of the company’s stock.

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.