Legato Capital Management LLC Invests $661,000 in Elastic (NYSE:ESTC)

Legato Capital Management LLC acquired a new position in shares of Elastic (NYSE:ESTC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,668 shares of the company’s stock, valued at approximately $661,000.

Other hedge funds have also added to or reduced their stakes in the company. Slow Capital Inc. acquired a new stake in Elastic during the 4th quarter worth $5,039,000. Wealth Effects LLC raised its stake in Elastic by 25.4% during the 4th quarter. Wealth Effects LLC now owns 28,800 shares of the company’s stock worth $2,854,000 after buying an additional 5,830 shares during the period. Blueshift Asset Management LLC acquired a new stake in Elastic during the 3rd quarter worth $585,000. Charles Schwab Investment Management Inc. raised its stake in Elastic by 2.7% during the 3rd 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. Finally, Bangor Savings Bank acquired a new stake in Elastic during the 4th quarter worth $1,657,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insider Buying and Selling

In related news, insider Carolyn Herzog sold 11,145 shares of Elastic stock in a transaction dated 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 completion of the transaction, the insider now owns 92,011 shares in the company, valued at approximately $10,244,504.74. This trade represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ashutosh Kulkarni sold 7,017 shares of Elastic stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value of $758,678.04. Following the transaction, the chief executive officer now owns 395,326 shares of the company’s stock, valued at $42,742,647.12. The trade was a 1.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,162 shares of company stock worth $18,637,562. Company insiders own 15.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Bank of America raised their price objective on Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Barclays lifted their price target on Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Stifel Nicolaus lifted their price target on Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. The Goldman Sachs Group lifted their price target on Elastic from $99.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Cantor Fitzgerald assumed coverage on Elastic in a research note on Friday, January 17th. They issued a “neutral” rating and a $108.00 price target on the stock. 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 stock. According to MarketBeat, Elastic has an average rating of “Moderate Buy” and an average target price of $125.35.

Elastic Price Performance

NYSE:ESTC opened at $117.80 on Friday. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The company has a market cap of $12.21 billion, a P/E ratio of 214.19 and a beta of 1.07. The stock’s 50-day simple moving average is $105.43 and its 200 day simple moving average is $95.29.

Elastic Profile

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.