Elastic (NYSE:ESTC) Shares Purchased by Virtu Financial LLC

Virtu Financial LLC boosted its stake in Elastic (NYSE:ESTC) by 131.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,338 shares of the company’s stock after acquiring an additional 2,467 shares during the quarter. Virtu Financial LLC’s holdings in Elastic were worth $333,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ESTC. Wealth Enhancement Advisory Services LLC acquired a new stake in Elastic during the 2nd quarter valued at $277,000. Lecap Asset Management Ltd. acquired a new stake in shares of Elastic during the second quarter valued at about $473,000. Catalyst Private Wealth LLC purchased a new stake in shares of Elastic during the second quarter worth about $232,000. Nicholas Company Inc. lifted its stake in shares of Elastic by 6.4% in the second quarter. Nicholas Company Inc. now owns 177,562 shares of the company’s stock worth $20,226,000 after acquiring an additional 10,645 shares in the last quarter. Finally, Avitas Wealth Management LLC purchased a new position in Elastic in the second quarter valued at about $212,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Shay Banon sold 150,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $288,944,159.76. This represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Carolyn Herzog sold 11,145 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 92,011 shares in the company, valued at approximately $10,244,504.74. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. 15.90% of the stock is owned by insiders.

Elastic Stock Up 0.6 %

ESTC stock opened at $104.66 on Tuesday. The stock has a market cap of $10.85 billion, a PE ratio of 190.29 and a beta of 1.02. The firm’s 50-day simple moving average is $92.27 and its 200 day simple moving average is $97.30. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wells Fargo & Company upped their target price on Elastic from $100.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Piper Sandler increased their price objective on shares of Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Citigroup boosted their target price on shares of Elastic from $136.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Guggenheim increased their price target on shares of Elastic from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $120.00 price objective on shares of Elastic in a report on Wednesday, November 20th. Five 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. According to MarketBeat.com, Elastic has a consensus rating of “Moderate Buy” and an average price target 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.