Liberty One Investment Management LLC Acquires 197 Shares of Elastic (NYSE:ESTC)

Liberty One Investment Management LLC boosted its holdings in shares of Elastic (NYSE:ESTC) by 10.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,010 shares of the company’s stock after purchasing an additional 197 shares during the quarter. Liberty One Investment Management LLC’s holdings in Elastic were worth $116,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ESTC. Allspring Global Investments Holdings LLC lifted its position in shares of Elastic by 418.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 441 shares of the company’s stock worth $26,000 after acquiring an additional 356 shares during the period. Whittier Trust Co. bought a new stake in shares of Elastic in the 1st quarter worth approximately $31,000. Steward Partners Investment Advisory LLC lifted its position in shares of Elastic by 50.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 707 shares of the company’s stock worth $36,000 after acquiring an additional 238 shares during the period. Nisa Investment Advisors LLC bought a new stake in shares of Elastic in the 1st quarter worth approximately $58,000. Finally, Amundi lifted its position in shares of Elastic by 2,063.8% in the 4th quarter. Amundi now owns 1,017 shares of the company’s stock worth $53,000 after acquiring an additional 970 shares during the period. Institutional investors own 74.66% of the company’s stock.

Elastic Trading Down 0.9 %

ESTC stock opened at $77.89 on Monday. The business has a fifty day moving average price of $64.98 and a 200 day moving average price of $62.46. Elastic has a fifty-two week low of $46.18 and a fifty-two week high of $91.30. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of -34.77 and a beta of 1.01. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.85 and a quick ratio of 1.78.

Insider Activity

In other news, Director Jonathan Chadwick sold 25,000 shares of Elastic stock in a transaction on Friday, September 1st. The stock was sold at an average price of $74.71, for a total value of $1,867,750.00. Following the completion of the sale, the director now directly owns 7,729 shares of the company’s stock, valued at approximately $577,433.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Carolyn Herzog sold 1,320 shares of Elastic stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $64.20, for a total transaction of $84,744.00. Following the completion of the sale, the insider now directly owns 84,643 shares of the company’s stock, valued at $5,434,080.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jonathan Chadwick sold 25,000 shares of Elastic stock in a transaction on Friday, September 1st. The stock was sold at an average price of $74.71, for a total value of $1,867,750.00. Following the sale, the director now directly owns 7,729 shares of the company’s stock, valued at $577,433.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,320 shares of company stock valued at $5,224,494. Company insiders own 18.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on ESTC shares. Citigroup reduced their price objective on Elastic from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Monday, August 28th. The Goldman Sachs Group raised their price objective on Elastic from $73.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 5th. Rosenblatt Securities restated a “buy” rating and set a $80.00 target price on shares of Elastic in a research report on Wednesday, August 30th. Wedbush restated a “neutral” rating and set a $67.00 target price on shares of Elastic in a research report on Tuesday, July 18th. Finally, TD Cowen started coverage on Elastic in a research report on Friday, August 18th. They set a “market perform” rating and a $65.00 target price for the company. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $78.44.

Elastic Company 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.