Elastic (NYSE:ESTC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Elastic (NYSE:ESTC) have received an average rating of “Moderate Buy” from the twenty-five analysts that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $126.50.

ESTC has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a research report on Friday, November 22nd. Royal Bank of Canada raised their target price on Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. William Blair raised shares of Elastic from a “market perform” rating to an “outperform” rating in a report on Monday, October 14th. Jefferies Financial Group increased their target price on Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, TD Cowen lowered their price objective on Elastic from $110.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 30th.

Elastic Price Performance

Shares of NYSE:ESTC opened at $103.62 on Friday. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06. The firm’s 50 day moving average price is $95.89 and its 200-day moving average price is $97.27. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $10.74 billion, a PE ratio of 188.40 and a beta of 1.02.

Insider Transactions at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 7,017 shares of Elastic stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total value of $758,678.04. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Carolyn Herzog sold 11,145 shares of the firm’s stock in a transaction dated 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 owns 92,011 shares of the company’s stock, valued at $10,244,504.74. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,162 shares of company stock valued at $18,637,562 over the last quarter. Corporate insiders own 15.90% of the company’s stock.

Institutional Trading of Elastic

Large investors have recently added to or reduced their stakes in the company. 1832 Asset Management L.P. bought a new position in Elastic during the second quarter worth $248,335,000. FMR LLC lifted its stake in shares of Elastic by 25.6% during the 3rd quarter. FMR LLC now owns 5,475,297 shares of the company’s stock worth $420,284,000 after buying an additional 1,115,750 shares during the last quarter. Atreides Management LP boosted its holdings in shares of Elastic by 57.2% during the 3rd quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock worth $129,555,000 after buying an additional 614,309 shares during the period. Federated Hermes Inc. grew its stake in Elastic by 32,630.2% in the 2nd quarter. Federated Hermes Inc. now owns 615,655 shares of the company’s stock valued at $70,129,000 after buying an additional 613,774 shares during the last quarter. Finally, JAT Capital Mgmt LP raised its holdings in Elastic by 601.4% in the 3rd quarter. JAT Capital Mgmt LP now owns 465,549 shares of the company’s stock valued at $35,736,000 after acquiring an additional 399,175 shares during the period. Institutional investors and hedge funds own 97.03% 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.