272 Capital LP Invests $1.10 Million in Elastic (NYSE:ESTC)

272 Capital LP acquired a new stake in Elastic (NYSE:ESTC) in the third quarter, HoldingsChannel.com reports. The fund acquired 14,380 shares of the company’s stock, valued at approximately $1,104,000.

Other institutional investors also recently added to or reduced their stakes in the company. Asset Dedication LLC grew its stake in shares of Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after purchasing an additional 280 shares during the period. AlphaCentric Advisors LLC purchased a new stake in Elastic during the second quarter worth about $40,000. Quarry LP purchased a new stake in Elastic during the second quarter worth about $40,000. Signaturefd LLC grew its position in Elastic by 44.1% during the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after buying an additional 119 shares during the period. Finally, Eastern Bank purchased a new position in Elastic in the third quarter valued at about $61,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Trading Up 0.2 %

NYSE ESTC opened at $107.26 on Friday. The company has a 50-day moving average of $91.22 and a 200-day moving average of $97.28. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06. The company has a market cap of $11.12 billion, a P/E ratio of 195.02 and a beta of 1.02.

Insider Buying and Selling

In related news, CTO Shay Banon sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $110.92, for a total value of $16,638,000.00. Following the transaction, the chief technology officer now owns 2,604,978 shares in the company, valued at approximately $288,944,159.76. This trade represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Carolyn Herzog sold 11,145 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 92,011 shares of the company’s stock, valued at approximately $10,244,504.74. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Citigroup upped their price target on Elastic from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, November 25th. William Blair raised Elastic from a “market perform” rating to an “outperform” rating in a report on Monday, October 14th. Bank of America lifted their price target on Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. UBS Group lowered their price objective on shares of Elastic from $135.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Finally, TD Cowen cut their target price on shares of Elastic from $110.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 30th. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $126.33.

About Elastic

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.