Lecap Asset Management Ltd. Has $2.47 Million Stake in Elastic (NYSE:ESTC)

Lecap Asset Management Ltd. increased its holdings in shares of Elastic (NYSE:ESTC) by 146.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,969 shares of the company’s stock after acquiring an additional 14,846 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Elastic were worth $2,474,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. bought a new stake in Elastic during the fourth quarter valued at $25,000. Eastern Bank purchased a new position in shares of Elastic during the 3rd quarter worth approximately $61,000. FNY Investment Advisers LLC boosted its stake in Elastic by 87.3% during the fourth quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock worth $74,000 after acquiring an additional 349 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Elastic by 21.2% during the third quarter. Blue Trust Inc. now owns 2,582 shares of the company’s stock valued at $198,000 after acquiring an additional 452 shares in the last quarter. Finally, Stephens Consulting LLC purchased a new position in shares of Elastic in the fourth quarter worth $198,000. 97.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Guggenheim raised their price objective on Elastic from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Scotiabank dropped their target price on Elastic from $135.00 to $127.00 and set a “sector outperform” rating for the company in a research report on Tuesday, January 21st. Barclays raised their price objective on Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. DA Davidson raised their price objective on Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Wedbush lowered shares of Elastic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Seven research 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 company’s stock. According to MarketBeat, Elastic has a consensus rating of “Moderate Buy” and a consensus target price of $125.35.

Elastic Trading Down 0.3 %

Shares of Elastic stock opened at $114.36 on Friday. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The business’s fifty day moving average is $105.10 and its two-hundred day moving average is $95.20. 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 firm has a market cap of $11.85 billion, a PE ratio of 207.93 and a beta of 1.07.

Insider Activity at Elastic

In other news, CEO Ashutosh Kulkarni sold 7,017 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total transaction of $758,678.04. Following the completion of the sale, the chief executive officer now directly owns 395,326 shares in the company, valued at $42,742,647.12. This represents a 1.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Carolyn Herzog sold 11,145 shares of Elastic stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total value of $1,240,884.30. Following the completion of the transaction, the insider now owns 92,011 shares in the company, valued at $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 ninety days, insiders sold 168,162 shares of company stock worth $18,637,562. 15.90% of the stock is currently owned by insiders.

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.