HighPoint Advisor Group LLC Purchases Shares of 2,816 Elastic (NYSE:ESTC)

HighPoint Advisor Group LLC acquired a new stake in shares of Elastic (NYSE:ESTC) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,816 shares of the company’s stock, valued at approximately $317,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Rakuten Securities Inc. purchased a new position in Elastic during the fourth quarter valued at approximately $25,000. GAMMA Investing LLC purchased a new stake in Elastic during the fourth quarter worth $39,000. Cypress Capital Management LLC WY purchased a new stake in Elastic during the fourth quarter worth $45,000. Covestor Ltd grew its position in Elastic by 168.3% during the third quarter. Covestor Ltd now owns 448 shares of the company’s stock valued at $36,000 after buying an additional 281 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in Elastic in the fourth quarter valued at $97,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Price Performance

Shares of ESTC stock opened at $109.04 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.76 and a quick ratio of 1.87. The company has a market capitalization of $11.09 billion, a PE ratio of 205.74 and a beta of 0.92. The firm’s 50-day moving average is $105.60 and its two-hundred day moving average is $110.60. Elastic has a 12 month low of $57.38 and a 12 month high of $136.06.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Rosenblatt Securities lifted their price target on Elastic from $105.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. decreased their target price on Elastic from $138.00 to $125.00 and set an “overweight” rating on the stock in a research report on Friday, May 24th. The Goldman Sachs Group boosted their price target on shares of Elastic from $93.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Scotiabank decreased their price objective on shares of Elastic from $154.00 to $135.00 and set a “sector outperform” rating on the stock in a report on Friday, May 31st. Finally, Royal Bank of Canada boosted their target price on shares of Elastic from $134.00 to $147.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.05.

Insider Transactions at Elastic

In related news, CEO Ashutosh Kulkarni sold 18,819 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $109.90, for a total value of $2,068,208.10. Following the transaction, the chief executive officer now directly owns 461,961 shares in the company, valued at $50,769,513.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Elastic news, Director Steven Schuurman sold 815,000 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the completion of the transaction, the director now owns 8,382,000 shares of the company’s stock, valued at $817,580,280. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ashutosh Kulkarni sold 18,819 shares of Elastic stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $109.90, for a total transaction of $2,068,208.10. Following the sale, the chief executive officer now owns 461,961 shares of the company’s stock, valued at $50,769,513.90. The disclosure for this sale can be found here. Insiders sold 860,840 shares of company stock worth $84,533,821 in the last 90 days. Insiders own 18.10% of the company’s stock.

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.