Elastic (NYSE:ESTC) is Washington Harbour Partners LP’s 9th Largest Position

Washington Harbour Partners LP lessened its position in shares of Elastic (NYSE:ESTC) by 22.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,100 shares of the company’s stock after selling 8,200 shares during the period. Elastic makes up 4.0% of Washington Harbour Partners LP’s portfolio, making the stock its 9th biggest position. Washington Harbour Partners LP’s holdings in Elastic were worth $2,234,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Asset Dedication LLC boosted its position in shares of Elastic by 1,333.3% in the second quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after buying an additional 280 shares during the period. AlphaCentric Advisors LLC purchased a new stake in shares of Elastic in the second quarter worth about $40,000. Quarry LP purchased a new stake in shares of Elastic in the second quarter worth about $40,000. Signaturefd LLC boosted its position in shares of Elastic by 44.1% in the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after buying an additional 119 shares during the period. Finally, Eastern Bank purchased a new stake in shares of Elastic in the third quarter worth about $61,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Insider Transactions at Elastic

In other news, CEO Ashutosh Kulkarni sold 19,649 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $1,380,342.25. Following the sale, the chief executive officer now directly owns 432,648 shares in the company, valued at approximately $30,393,522. This represents a 4.34 % 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. Also, CTO Shay Banon sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $110.92, for a total value of $16,638,000.00. Following the completion of the sale, the chief technology officer now owns 2,604,978 shares in the company, valued at approximately $288,944,159.76. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 198,551 shares of company stock worth $20,506,656. 15.90% of the stock is currently owned by company insiders.

Elastic Stock Down 4.0 %

Shares of Elastic stock opened at $111.52 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The business’s 50 day simple moving average is $88.12 and its 200-day simple moving average is $97.30. The stock has a market capitalization of $11.56 billion, a price-to-earnings ratio of 202.75 and a beta of 1.02. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ESTC shares. Baird R W raised Elastic from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Jefferies Financial Group upped their target price on Elastic from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Wells Fargo & Company increased their price target on Elastic from $100.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Needham & Company LLC reissued a “hold” rating on shares of Elastic in a report on Friday, November 22nd. Finally, Barclays increased 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. Five research 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.33.

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.