Valliance Asset Management Ltd Makes New Investment in Elastic (NYSE:ESTC)

Valliance Asset Management Ltd bought a new position in Elastic (NYSE:ESTC) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 4,265 shares of the company’s stock, valued at approximately $423,000. Elastic accounts for 0.8% of Valliance Asset Management Ltd’s holdings, making the stock its 14th biggest holding.

Several other hedge funds have also made changes to their positions in the company. M&T Bank Corp lifted its holdings in shares of Elastic by 3.1% in the 3rd quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock worth $357,000 after buying an additional 139 shares during the period. Sigma Planning Corp raised its position in shares of Elastic by 3.7% in the 4th quarter. Sigma Planning Corp now owns 3,929 shares of the company’s stock worth $389,000 after acquiring an additional 139 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Elastic by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,053 shares of the company’s stock worth $302,000 after acquiring an additional 151 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of Elastic by 7.0% in the 3rd quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock worth $235,000 after acquiring an additional 201 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in shares of Elastic by 3.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company’s stock worth $523,000 after acquiring an additional 219 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Elastic news, CEO Ashutosh Kulkarni sold 7,017 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total transaction of $758,678.04. Following the transaction, the chief executive officer now owns 395,326 shares in the company, valued at approximately $42,742,647.12. This represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Carolyn Herzog sold 11,145 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total value of $1,240,884.30. Following the transaction, the insider now owns 92,011 shares in the company, valued at $10,244,504.74. This represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,162 shares of company stock worth $18,637,562. 15.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on ESTC shares. Wedbush lowered Elastic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Scotiabank reduced their price target on Elastic from $135.00 to $127.00 and set a “sector outperform” rating for the company in a research report on Tuesday, January 21st. Baird R W raised Elastic from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a research report on Friday, November 22nd. Finally, Wells Fargo & Company upped their target price on Elastic from $100.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Seven equities 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $125.35.

Elastic Stock Performance

Shares of ESTC stock opened at $106.30 on Friday. The company has a market capitalization of $11.02 billion, a P/E ratio of 193.27 and a beta of 1.07. The business’s 50 day moving average is $105.99 and its two-hundred day moving average is $95.46. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06.

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.