Edgestream Partners L.P. Buys New Stake in Elastic (NYSE:ESTC)

Edgestream Partners L.P. purchased a new stake in shares of Elastic (NYSE:ESTC) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,473 shares of the company’s stock, valued at approximately $574,000.

Other institutional investors have also bought and sold shares of the company. Asset Dedication LLC raised its position in shares of Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after buying an additional 280 shares in the last quarter. AlphaCentric Advisors LLC bought a new position in shares of Elastic during the 2nd quarter valued at approximately $40,000. Quarry LP purchased a new stake in Elastic during the 2nd quarter valued at $40,000. Signaturefd LLC lifted its position in Elastic by 44.1% in the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after buying an additional 119 shares during the last quarter. Finally, Headlands Technologies LLC boosted its stake in Elastic by 75.4% during the second quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock worth $72,000 after buying an additional 270 shares during the period. Institutional investors own 97.03% of the company’s stock.

Insider Transactions at Elastic

In other Elastic news, CFO Janesh Moorjani sold 6,941 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $487,605.25. Following the completion of the sale, the chief financial officer now directly owns 195,550 shares in the company, valued at $13,737,387.50. This trade represents a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Shay Banon sold 150,000 shares of Elastic stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last three months, insiders sold 198,551 shares of company stock valued at $20,506,656. Corporate insiders own 15.90% of the company’s stock.

Elastic Stock Down 4.0 %

Elastic stock opened at $111.52 on Friday. 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 $11.56 billion, a P/E ratio of 202.75 and a beta of 1.02. The business has a fifty day moving average of $88.12 and a two-hundred day moving average of $97.30. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Bank of America increased their target price on shares of Elastic from $94.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Robert W. Baird raised shares of Elastic from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $95.00 to $135.00 in a research note on Friday, November 22nd. Barclays boosted their target price on Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. UBS Group reduced their price target on Elastic from $135.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Finally, JPMorgan Chase & Co. boosted their price objective on Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Five 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. Based on data from MarketBeat.com, Elastic presently has an average rating of “Moderate Buy” and an average target price of $126.33.

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.