Stanley Laman Group Ltd. Has $7.88 Million Stock Holdings in Elastic (NYSE:ESTC)

Stanley Laman Group Ltd. cut its position in Elastic (NYSE:ESTC) by 6.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,529 shares of the company’s stock after selling 5,268 shares during the period. Elastic accounts for approximately 1.1% of Stanley Laman Group Ltd.’s investment portfolio, making the stock its 14th biggest holding. Stanley Laman Group Ltd. owned about 0.08% of Elastic worth $7,880,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. FMR LLC boosted its stake in Elastic by 25.6% during the 3rd quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after purchasing an additional 1,115,750 shares during the last quarter. Atreides Management LP boosted its stake in Elastic by 57.2% during the 3rd quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock valued at $129,555,000 after purchasing an additional 614,309 shares during the last quarter. JAT Capital Mgmt LP boosted its stake in Elastic by 601.4% during the 3rd quarter. JAT Capital Mgmt LP now owns 465,549 shares of the company’s stock valued at $35,736,000 after purchasing an additional 399,175 shares during the last quarter. Thematics Asset Management lifted its position in shares of Elastic by 463.3% during the 3rd quarter. Thematics Asset Management now owns 444,012 shares of the company’s stock worth $34,082,000 after buying an additional 365,192 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Elastic by 256.3% during the 3rd quarter. Franklin Resources Inc. now owns 341,524 shares of the company’s stock worth $28,387,000 after buying an additional 245,680 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Stock Up 2.2 %

ESTC opened at $117.69 on Thursday. The company has a fifty day moving average price of $105.31 and a 200-day moving average price of $95.13. The firm has a market capitalization of $12.20 billion, a P/E ratio of 213.98 and a beta of 1.07. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. Elastic has a one year low of $69.00 and a one year high of $136.06.

Insider Buying and Selling

In related news, insider Carolyn Herzog sold 11,145 shares of the company’s 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 directly owns 92,011 shares in the company, valued at approximately $10,244,504.74. The trade was a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, 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 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. Corporate insiders own 15.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley assumed coverage on shares of Elastic in a research report on Tuesday, December 17th. They set an “overweight” rating and a $130.00 target price on the stock. Stifel Nicolaus lifted their target price 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. Citigroup lifted 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. DA Davidson lifted their price target on shares of Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $125.35.

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.