Elastic (NYSE:ESTC) Shares Sold by Exane Derivatives

Exane Derivatives cut its stake in Elastic (NYSE:ESTCGet Rating) by 66.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 779 shares of the company’s stock after selling 1,554 shares during the quarter. Exane Derivatives’ holdings in Elastic were worth $53,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Elastic by 1.5% in the first quarter. Vanguard Group Inc. now owns 7,038,914 shares of the company’s stock valued at $626,112,000 after purchasing an additional 101,159 shares during the period. BlackRock Inc. raised its position in Elastic by 4.8% in the first quarter. BlackRock Inc. now owns 5,616,149 shares of the company’s stock valued at $499,557,000 after purchasing an additional 259,742 shares during the period. Sylebra Capital Ltd raised its position in Elastic by 8.0% in the first quarter. Sylebra Capital Ltd now owns 4,080,202 shares of the company’s stock valued at $362,934,000 after purchasing an additional 303,016 shares during the period. Clearbridge Investments LLC raised its position in Elastic by 1.5% in the first quarter. Clearbridge Investments LLC now owns 1,557,579 shares of the company’s stock valued at $138,547,000 after purchasing an additional 22,421 shares during the period. Finally, XN LP raised its position in Elastic by 343.5% in the first quarter. XN LP now owns 1,298,098 shares of the company’s stock valued at $115,466,000 after purchasing an additional 1,005,396 shares during the period. 74.31% of the stock is owned by hedge funds and other institutional investors.

Elastic Stock Performance

Shares of ESTC stock opened at $75.44 on Thursday. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 1.44. The business has a 50 day moving average of $81.64 and a two-hundred day moving average of $77.48. Elastic has a 52 week low of $50.74 and a 52 week high of $189.84. The company has a market cap of $7.17 billion, a P/E ratio of -29.47 and a beta of 1.13.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ESTC. Canaccord Genuity Group began coverage on Elastic in a research report on Thursday, July 7th. They set a “buy” rating and a $100.00 target price on the stock. Piper Sandler lifted their target price on Elastic from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, August 26th. Barclays lifted their target price on Elastic from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 16th. Royal Bank of Canada dropped their target price on Elastic from $133.00 to $110.00 in a research report on Tuesday, May 31st. Finally, Monness Crespi & Hardt lowered Elastic from a “buy” rating to a “neutral” rating in a research report on Thursday, August 11th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $126.15.

Insider Buying and Selling at Elastic

In other Elastic news, Director Jonathan Chadwick sold 6,250 shares of Elastic stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $72.88, for a total value of $455,500.00. Following the completion of the transaction, the director now directly owns 5,102 shares in the company, valued at $371,833.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Elastic news, Director Jonathan Chadwick sold 6,250 shares of Elastic stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $72.88, for a total value of $455,500.00. Following the completion of the transaction, the director now directly owns 5,102 shares in the company, valued at $371,833.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ashutosh Kulkarni sold 7,512 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $88.55, for a total value of $665,187.60. Following the transaction, the chief executive officer now owns 126,110 shares of the company’s stock, valued at $11,167,040.50. The disclosure for this sale can be found here. Insiders sold a total of 17,043 shares of company stock worth $1,411,220 over the last ninety days. Company insiders own 18.80% of the company’s stock.

Elastic Company Profile

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Elastic N.V., a search company, delivers technology 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 perform search, analysis, and visualization.

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Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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