Lecap Asset Management Ltd. Has $2.47 Million Stock Position in Elastic (NYSE:ESTC)

Lecap Asset Management Ltd. increased its holdings in shares of Elastic (NYSE:ESTC) by 146.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 24,969 shares of the company’s stock after purchasing an additional 14,846 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Elastic were worth $2,474,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ESTC. Geneos Wealth Management Inc. acquired a new position in shares of Elastic in the fourth quarter valued at approximately $25,000. Eastern Bank bought a new position in Elastic during the 3rd quarter worth $61,000. FNY Investment Advisers LLC grew its holdings in Elastic by 87.3% during the 4th quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock worth $74,000 after acquiring an additional 349 shares during the period. Blue Trust Inc. raised its holdings in shares of Elastic by 21.2% during the third quarter. Blue Trust Inc. now owns 2,582 shares of the company’s stock valued at $198,000 after purchasing an additional 452 shares during the period. Finally, Stephens Consulting LLC acquired a new position in Elastic during the fourth quarter worth $198,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Shay Banon sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the completion of the transaction, the chief technology officer now owns 2,604,978 shares in the company, valued at $288,944,159.76. This trade represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ashutosh Kulkarni sold 7,017 shares of Elastic stock in a transaction that occurred on Wednesday, December 18th. The stock was 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 directly owns 395,326 shares in the company, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,162 shares of company stock worth $18,637,562. Company insiders own 15.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Baird R W raised shares of Elastic from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Jefferies Financial Group lifted their price target on Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Cantor Fitzgerald initiated coverage on shares of Elastic in a research report on Friday, January 17th. They issued a “neutral” rating and a $108.00 price objective on the stock. Scotiabank lowered their price target on shares of Elastic from $135.00 to $127.00 and set a “sector outperform” rating for the company in a research note on Tuesday, January 21st. Finally, Canaccord Genuity Group raised their target price on Elastic from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.35.

Elastic Stock Performance

Shares of NYSE ESTC opened at $114.36 on Friday. The company has a market cap of $11.85 billion, a PE ratio of 207.93 and a beta of 1.07. The firm’s 50-day moving average price is $105.10 and its 200-day moving average price is $95.20. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.

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.