Olympiad Research LP Purchases New Position in Elastic (NYSE:ESTC)

Olympiad Research LP acquired a new stake in Elastic (NYSE:ESTC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,720 shares of the company’s stock, valued at approximately $369,000.

A number of other institutional investors have also recently bought and sold shares of ESTC. Geneos Wealth Management Inc. bought a new stake in Elastic in the 4th quarter valued at about $25,000. Venturi Wealth Management LLC boosted its holdings in Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares during the period. Global Retirement Partners LLC boosted its holdings in Elastic by 1,065.2% in the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock valued at $53,000 after purchasing an additional 490 shares during the period. Eastern Bank bought a new stake in Elastic in the 3rd quarter valued at about $61,000. Finally, FNY Investment Advisers LLC lifted its holdings in shares of Elastic by 87.3% during the 4th quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock worth $74,000 after acquiring an additional 349 shares during the period. Institutional investors own 97.03% of the company’s stock.

Insider Buying and Selling at Elastic

In other news, CTO Shay Banon sold 150,000 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the completion of the sale, the chief technology officer now directly owns 2,604,978 shares in the company, valued at $288,944,159.76. This represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Carolyn Herzog sold 11,145 shares of the stock in a transaction 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 sale, the insider now owns 92,011 shares of the company’s stock, valued at approximately $10,244,504.74. This trade represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 company insiders.

Elastic Trading Down 3.0 %

Shares of NYSE ESTC opened at $106.30 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06. The firm has a 50 day moving average price of $105.99 and a two-hundred day moving average price of $95.46. The stock has a market cap of $11.02 billion, a P/E ratio of 193.27 and a beta of 1.07.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ESTC shares. Jefferies Financial Group upped their price target on shares of Elastic from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. DA Davidson upped 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. Wells Fargo & Company upped their price target on shares of Elastic from $100.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upped 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. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $120.00 price target on shares of Elastic in a report on Wednesday, November 20th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.35.

Elastic Company 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.