Stanley Laman Group Ltd. Cuts Stock Holdings in Elastic (NYSE:ESTC)

Stanley Laman Group Ltd. trimmed its holdings in shares of Elastic (NYSE:ESTC) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,529 shares of the company’s stock after selling 5,268 shares during the period. Elastic comprises approximately 1.1% of Stanley Laman Group Ltd.’s portfolio, making the stock its 14th largest position. Stanley Laman Group Ltd.’s holdings in Elastic were worth $7,880,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ESTC. Vontobel Holding Ltd. raised its stake in shares of Elastic by 241.3% during the third quarter. Vontobel Holding Ltd. now owns 14,900 shares of the company’s stock valued at $1,144,000 after acquiring an additional 10,534 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Elastic by 7.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,715 shares of the company’s stock valued at $669,000 after acquiring an additional 568 shares during the last quarter. Blue Trust Inc. raised its stake in Elastic by 21.2% in the third quarter. Blue Trust Inc. now owns 2,582 shares of the company’s stock worth $198,000 after buying an additional 452 shares in the last quarter. Wealth Effects LLC raised its stake in Elastic by 35.4% in the third quarter. Wealth Effects LLC now owns 22,970 shares of the company’s stock worth $1,763,000 after buying an additional 6,010 shares in the last quarter. Finally, LB Partners LLC bought a new position in Elastic in the third quarter worth about $1,151,000. 97.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Elastic

In other Elastic news, insider Carolyn Herzog sold 11,145 shares of Elastic stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total value of $1,240,884.30. Following the completion of the transaction, the insider now directly owns 92,011 shares of the company’s stock, valued at $10,244,504.74. This trade represents a 10.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ashutosh Kulkarni sold 7,017 shares of Elastic stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total transaction of $758,678.04. Following the completion of the transaction, the chief executive officer now directly owns 395,326 shares of the company’s stock, valued at $42,742,647.12. The trade was a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,162 shares of company stock worth $18,637,562. Insiders own 15.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Elastic from $100.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Truist Financial upped their price objective on shares of Elastic from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. The Goldman Sachs Group increased their price target on shares of Elastic from $99.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Royal Bank of Canada increased their price target on shares of Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, Morgan Stanley started coverage on shares of Elastic in a report on Tuesday, December 17th. They issued an “overweight” rating and a $130.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $125.35.

Elastic Stock Up 2.2 %

Shares of ESTC stock opened at $117.69 on Thursday. The company has a market capitalization of $12.20 billion, a price-to-earnings ratio of 213.98 and a beta of 1.07. Elastic has a one year low of $69.00 and a one year high of $136.06. The company’s fifty day moving average price is $105.31 and its 200-day moving average price is $95.13. 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 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.