Wealth Effects LLC Raises Stake in Elastic (NYSE:ESTC)

Wealth Effects LLC lifted its stake in shares of Elastic (NYSE:ESTC) by 25.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,800 shares of the company’s stock after acquiring an additional 5,830 shares during the period. Elastic accounts for approximately 1.0% of Wealth Effects LLC’s portfolio, making the stock its 15th biggest position. Wealth Effects LLC’s holdings in Elastic were worth $2,854,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Perigon Wealth Management LLC purchased a new position in Elastic in the fourth quarter worth approximately $490,000. Slow Capital Inc. acquired a new stake in shares of Elastic during the 4th quarter worth about $5,039,000. Pacer Advisors Inc. raised its holdings in Elastic by 30.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,408 shares of the company’s stock valued at $239,000 after buying an additional 566 shares during the period. KBC Group NV lifted its position in Elastic by 42.2% in the fourth quarter. KBC Group NV now owns 3,435 shares of the company’s stock valued at $340,000 after buying an additional 1,020 shares during the last quarter. Finally, Geneos Wealth Management Inc. purchased a new position in Elastic during the fourth quarter worth about $25,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insider Buying and Selling

In other Elastic news, insider Carolyn Herzog sold 11,145 shares of the firm’s 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 completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the company’s stock in a transaction 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 owns 395,326 shares in the company, valued at $42,742,647.12. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,162 shares of company stock valued at $18,637,562. 15.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ESTC shares. Citigroup lifted their price objective on Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Jefferies Financial Group lifted their target price on Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Stifel Nicolaus increased their price target on shares of Elastic from $98.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Morgan Stanley started coverage on shares of Elastic in a report on Tuesday, December 17th. They issued an “overweight” rating and a $130.00 price objective for the company. Finally, The Goldman Sachs Group increased their target price on shares of Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $125.35.

Elastic Stock Performance

NYSE:ESTC opened at $105.04 on Tuesday. The firm’s fifty day simple moving average is $103.34 and its 200-day simple moving average is $95.05. 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 stock has a market cap of $10.88 billion, a PE ratio of 190.98 and a beta of 1.06. Elastic has a fifty-two week low of $69.00 and a fifty-two week 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.