Elastic (NYSE:ESTC) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Elastic (NYSE:ESTC) in a report issued on Friday,Briefing.com Automated Import reports. The firm set a “neutral” rating and a $108.00 price target on the stock. Cantor Fitzgerald’s target price points to a potential upside of 8.14% from the company’s previous close.

Other analysts also recently issued reports about the stock. Barclays increased 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. Morgan Stanley began coverage on Elastic in a research report on Tuesday, December 17th. They set an “overweight” rating and a $130.00 target price on the stock. Citigroup boosted their price target on Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Stifel Nicolaus raised their price objective on Elastic from $98.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Canaccord Genuity Group boosted their price objective on Elastic from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Seven 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $125.70.

Elastic Stock Up 0.7 %

Shares of ESTC stock opened at $99.87 on Friday. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06. 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 $10.35 billion, a PE ratio of 181.58 and a beta of 1.06. The stock has a 50 day moving average of $101.38 and a 200-day moving average of $95.98.

Insider Buying and Selling

In other Elastic news, insider Carolyn Herzog sold 11,145 shares of the firm’s stock in a transaction dated 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 150,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief technology officer now owns 2,604,978 shares in the company, valued at $288,944,159.76. The trade was a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,162 shares of company stock worth $18,637,562 in the last three months. Insiders own 15.90% of the company’s stock.

Institutional Trading of Elastic

Hedge funds and other institutional investors have recently modified their holdings of the stock. Oak Thistle LLC bought a new position in Elastic in the 4th quarter valued at $357,000. FNY Investment Advisers LLC lifted its stake in shares of Elastic by 87.3% during the fourth quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock valued at $74,000 after acquiring an additional 349 shares during the period. Bangor Savings Bank bought a new position in Elastic in the fourth quarter valued at about $1,657,000. Nordea Investment Management AB increased its position in Elastic by 6.5% in the fourth quarter. Nordea Investment Management AB now owns 80,474 shares of the company’s stock worth $8,014,000 after purchasing an additional 4,923 shares during the period. Finally, Everence Capital Management Inc. acquired a new stake in Elastic in the fourth quarter worth about $275,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

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.