Olympiad Research LP Invests $369,000 in Elastic (NYSE:ESTC)

Olympiad Research LP purchased a new position in Elastic (NYSE:ESTC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,720 shares of the company’s stock, valued at approximately $369,000.

A number of other large investors have also bought and sold shares of the stock. Sigma Planning Corp grew its holdings in Elastic by 3.7% in the fourth quarter. Sigma Planning Corp now owns 3,929 shares of the company’s stock worth $389,000 after purchasing an additional 139 shares during the period. Handelsbanken Fonder AB grew its holdings in Elastic by 20.2% in the fourth quarter. Handelsbanken Fonder AB now owns 22,600 shares of the company’s stock worth $2,239,000 after purchasing an additional 3,800 shares during the period. Private Advisor Group LLC grew its holdings in Elastic by 299.7% in the fourth quarter. Private Advisor Group LLC now owns 10,981 shares of the company’s stock worth $1,088,000 after purchasing an additional 8,234 shares during the period. Global Retirement Partners LLC grew its holdings in Elastic by 1,065.2% in the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock worth $53,000 after purchasing an additional 490 shares during the period. Finally, New York State Common Retirement Fund grew its holdings in Elastic by 20.5% in the fourth quarter. New York State Common Retirement Fund now owns 172,707 shares of the company’s stock worth $17,112,000 after purchasing an additional 29,408 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Price Performance

NYSE:ESTC opened at $106.30 on Friday. The firm has a market capitalization of $11.02 billion, a price-to-earnings ratio of 193.27 and a beta of 1.07. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06. The stock has a fifty day moving average of $105.99 and a 200 day moving average of $95.46. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99.

Insider Activity at Elastic

In related news, CTO Shay Banon sold 150,000 shares of Elastic stock in a transaction on 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 sale, the chief technology officer now owns 2,604,978 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Carolyn Herzog sold 11,145 shares of Elastic stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total value of $1,240,884.30. Following the sale, the insider now directly owns 92,011 shares of the company’s stock, valued at approximately $10,244,504.74. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,162 shares of company stock valued at $18,637,562. Company insiders own 15.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Royal Bank of Canada raised their price target on shares of Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Cantor Fitzgerald assumed coverage on shares of Elastic in a report on Friday, January 17th. They set a “neutral” rating and a $108.00 price objective for the company. Barclays raised their price objective on shares of Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, The Goldman Sachs Group raised their price objective on shares of Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $125.35.

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.