Treasurer of the State of North Carolina Purchases 1,030 Shares of Elastic (NYSE:ESTC)

Treasurer of the State of North Carolina grew its position in shares of Elastic (NYSE:ESTCFree Report) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,184 shares of the company’s stock after acquiring an additional 1,030 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Elastic were worth $3,965,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Rakuten Securities Inc. bought a new stake in Elastic during the fourth quarter worth about $25,000. Covestor Ltd boosted its holdings in shares of Elastic by 168.3% in the 3rd quarter. Covestor Ltd now owns 448 shares of the company’s stock valued at $36,000 after buying an additional 281 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Elastic in the fourth quarter valued at $39,000. Cypress Capital Management LLC WY acquired a new position in Elastic during the fourth quarter worth $45,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Elastic during the fourth quarter worth $97,000. 97.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ESTC shares. Bank of America decreased their price objective on shares of Elastic from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Citigroup boosted their price target on Elastic from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday. Scotiabank cut their price objective on Elastic from $154.00 to $135.00 and set a “sector outperform” rating for the company in a research report on Friday, May 31st. TheStreet raised Elastic from a “d+” rating to a “c-” rating in a report on Wednesday, February 7th. Finally, Stifel Nicolaus dropped their price target on Elastic from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.05.

Check Out Our Latest Stock Analysis on ESTC

Elastic Price Performance

Shares of NYSE:ESTC opened at $102.97 on Wednesday. The firm has a market cap of $10.38 billion, a PE ratio of 194.28 and a beta of 0.92. Elastic has a 52 week low of $57.38 and a 52 week high of $136.06. The firm’s fifty day moving average is $102.49 and its 200-day moving average is $108.23. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.87 and a current ratio of 1.87.

Insiders Place Their Bets

In other news, Director Steven Schuurman sold 815,000 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total value of $79,495,100.00. Following the completion of the sale, the director now owns 8,382,000 shares of the company’s stock, valued at $817,580,280. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Steven Schuurman sold 815,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total value of $79,495,100.00. Following the sale, the director now directly owns 8,382,000 shares of the company’s stock, valued at approximately $817,580,280. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Shay Banon sold 20,000 shares of Elastic stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $101.52, for a total transaction of $2,030,400.00. Following the transaction, the chief technology officer now directly owns 3,054,978 shares of the company’s stock, valued at approximately $310,141,366.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 962,440 shares of company stock valued at $94,535,764. 18.10% of the stock is currently owned by company insiders.

About Elastic

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Elastic (NYSE:ESTC)

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