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

Shares of Elastic (NYSE:ESTC) have received an average recommendation of “Moderate Buy” from the twenty-six brokerages that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $125.70.

ESTC has been the subject of several recent research reports. Baird R W raised shares of Elastic from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Morgan Stanley initiated coverage on shares of Elastic in a research note on Tuesday, December 17th. They set an “overweight” rating and a $130.00 price target on the stock. Canaccord Genuity Group boosted their price objective on shares of Elastic from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. William Blair raised Elastic from a “market perform” rating to an “outperform” rating in a research report on Monday, October 14th. Finally, The Goldman Sachs Group increased their price target on Elastic from $99.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, November 22nd.

Insider Transactions at Elastic

In other news, insider Carolyn Herzog sold 11,145 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the transaction, the insider now owns 92,011 shares in the company, valued at $10,244,504.74. This represents a 10.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 150,000 shares of Elastic stock in a transaction on Tuesday, November 26th. The shares were 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 directly owns 2,604,978 shares of the company’s stock, valued at approximately $288,944,159.76. The trade was a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,162 shares of company stock valued at $18,637,562 over the last quarter. Company insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On Elastic

A number of large investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of Elastic in the second quarter valued at about $40,000. FNY Investment Advisers LLC grew its holdings in Elastic by 87.3% in the 4th quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock valued at $74,000 after buying an additional 349 shares during the last quarter. Eastern Bank bought a new position in Elastic in the 3rd quarter worth approximately $61,000. Janney Montgomery Scott LLC acquired a new position in shares of Elastic during the fourth quarter worth approximately $202,000. Finally, Blue Trust Inc. lifted its holdings in shares of Elastic by 21.2% during 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 during the last quarter. Institutional investors own 97.03% of the company’s stock.

Elastic Stock Up 0.5 %

ESTC opened at $100.49 on Tuesday. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06. The firm has a 50 day moving average price of $101.86 and a 200 day moving average price of $95.49. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The company has a market cap of $10.41 billion, a PE ratio of 182.70 and a beta of 1.06.

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.