SG Americas Securities LLC Makes New Investment in Elastic (NYSE:ESTC)

SG Americas Securities LLC bought 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. The institutional investor bought 73,611 shares of the company’s stock, valued at approximately $7,293,000. SG Americas Securities LLC owned approximately 0.07% of Elastic as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Cantor Fitzgerald assumed coverage on Elastic in a research report on Friday, January 17th. They issued a “neutral” rating and a $108.00 target price on the stock. Stifel Nicolaus boosted their price objective on shares of Elastic from $98.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. William Blair raised shares of Elastic from a “market perform” rating to an “outperform” rating in a research report on Monday, October 14th. Morgan Stanley began coverage on shares of Elastic in a research report on Tuesday, December 17th. They set an “overweight” rating and a $130.00 price target on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of Elastic in a report on Friday, November 22nd. Seven 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $125.35.

Insider Activity

In other Elastic news, CTO Shay Banon sold 150,000 shares of Elastic 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 in the company, valued at $288,944,159.76. The trade was a 5.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Carolyn Herzog sold 11,145 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the transaction, the insider now 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. Over the last quarter, insiders have sold 168,162 shares of company stock valued at $18,637,562. 15.90% of the stock is owned by insiders.

Elastic Stock Up 0.3 %

Elastic stock opened at $104.39 on Friday. The company’s 50-day moving average price is $102.96 and its two-hundred day moving average price is $95.41. 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 has a market cap of $10.82 billion, a P/E ratio of 189.81 and a beta of 1.06. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06.

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.