Elastic (NYSE:ESTC – Get Rating) had its price objective upped by Stifel Nicolaus from $60.00 to $70.00 in a report published on Friday, The Fly reports.
Several other research firms have also issued reports on ESTC. JPMorgan Chase & Co. reduced their target price on shares of Elastic from $70.00 to $67.00 and set an overweight rating for the company in a research note on Friday, March 3rd. Rosenblatt Securities restated a buy rating and issued a $96.00 target price on shares of Elastic in a report on Wednesday, March 1st. Barclays raised their price objective on Elastic from $70.00 to $83.00 in a research report on Friday. Royal Bank of Canada lifted their price target on Elastic from $71.00 to $84.00 in a research report on Wednesday. Finally, Wells Fargo & Company upgraded Elastic from an underweight rating to an equal weight rating and boosted their price target for the company from $55.00 to $67.00 in a research note on Friday. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Elastic has a consensus rating of Moderate Buy and an average target price of $78.06.
Elastic Stock Up 0.9 %
Elastic stock opened at $72.28 on Friday. The company has a fifty day simple moving average of $60.34 and a 200 day simple moving average of $57.86. Elastic has a 1-year low of $46.18 and a 1-year high of $91.30. The company has a market cap of $6.97 billion, a P/E ratio of -26.77 and a beta of 1.06. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 1.47.
Insider Transactions at Elastic
In related news, CEO Ashutosh Kulkarni sold 12,098 shares of Elastic stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $58.28, for a total transaction of $705,071.44. Following the completion of the sale, the chief executive officer now owns 343,037 shares of the company’s stock, valued at $19,992,196.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Ashutosh Kulkarni sold 12,098 shares of the business’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $58.28, for a total value of $705,071.44. Following the completion of the sale, the chief executive officer now directly owns 343,037 shares in the company, valued at $19,992,196.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ken Exner sold 2,064 shares of the business’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $58.28, for a total value of $120,289.92. Following the sale, the insider now owns 123,117 shares of the company’s stock, valued at $7,175,258.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,118 shares of company stock valued at $1,055,917. 18.80% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Elastic
Several large investors have recently modified their holdings of ESTC. Baillie Gifford & Co. increased its holdings in Elastic by 29.2% during the 1st quarter. Baillie Gifford & Co. now owns 7,634,113 shares of the company’s stock worth $442,015,000 after purchasing an additional 1,723,842 shares during the period. Vanguard Group Inc. increased its holdings in shares of Elastic by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,370,062 shares of the company’s stock valued at $528,727,000 after acquiring an additional 157,301 shares during the last quarter. FMR LLC grew its stake in Elastic by 11.4% during the 1st quarter. FMR LLC now owns 6,851,276 shares of the company’s stock worth $396,689,000 after buying an additional 702,665 shares during the last quarter. BlackRock Inc. grew its stake in Elastic by 4.8% during the 1st quarter. BlackRock Inc. now owns 5,616,149 shares of the company’s stock worth $499,557,000 after buying an additional 259,742 shares during the last quarter. Finally, Sylebra Capital Ltd grew its stake in Elastic by 3.2% during the 1st quarter. Sylebra Capital Ltd now owns 4,712,076 shares of the company’s stock worth $272,829,000 after buying an additional 146,397 shares during the last quarter. Institutional investors and hedge funds own 78.40% of the company’s stock.
About Elastic
Elastic NV engages in the provision of open-source search and analytics engine services. It offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as perform search, analysis, and visualization. The firms Elastic Stack product comprises Elasticsearch, a distributed, real-time search and analytics engine, and data store for various types of data, including textual, numerical, geospatial, structured, and unstructured, Kibana, a user interface, management, and configuration interface for the Elastic Stack, Beats, a single-purpose data shippers for sending data from edge machines to Elasticsearch or Logstash, and Logstash, a data processing pipeline for ingesting data into Elasticsearch or other storage systems.
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