Elastic (NYSE:ESTC) Short Interest Up 14.8% in January

Elastic (NYSE:ESTC) was the recipient of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 2,870,000 shares, a growth of 14.8% from the January 15th total of 2,500,000 shares. Currently, 3.2% of the shares of the company are short sold. Based on an average trading volume of 1,500,000 shares, the days-to-cover ratio is currently 1.9 days.

Elastic Price Performance

ESTC traded down $4.38 during trading hours on Monday, hitting $113.21. The company’s stock had a trading volume of 1,226,552 shares, compared to its average volume of 1,268,810. The business’s 50-day moving average price is $105.59 and its 200-day moving average price is $95.16. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06. The stock has a market cap of $11.73 billion, a price-to-earnings ratio of 205.83 and a beta of 1.07. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70.

Wall Street Analysts Forecast Growth

ESTC has been the topic of a number of research reports. The Goldman Sachs Group raised their price objective on shares of Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Truist Financial raised their price objective on shares of Elastic from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Stifel Nicolaus raised their price objective on shares of Elastic from $98.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Morgan Stanley assumed coverage on shares of Elastic in a report on Tuesday, December 17th. They issued an “overweight” rating and a $130.00 price objective on the stock. Finally, Barclays lifted their price target on shares of Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $125.35.

Insider Transactions at Elastic

In other news, CEO Ashutosh Kulkarni sold 7,017 shares of Elastic stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total value 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. The trade was a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Carolyn Herzog sold 11,145 shares of Elastic 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 completion of the sale, the insider now owns 92,011 shares of the company’s stock, valued at $10,244,504.74. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,162 shares of company stock worth $18,637,562 over the last three months. 15.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Elastic

Large investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. bought a new stake in Elastic in the fourth quarter worth $25,000. Geneos Wealth Management Inc. bought a new stake in Elastic in the fourth quarter worth $25,000. Venturi Wealth Management LLC increased its position in Elastic by 793.3% in the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after purchasing an additional 238 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after purchasing an additional 158 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in Elastic by 1,065.2% during the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock valued at $53,000 after acquiring an additional 490 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

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.