Pacer Advisors Inc. Boosts Holdings in Elastic (NYSE:ESTC)

Pacer Advisors Inc. grew its stake in shares of Elastic (NYSE:ESTC) by 30.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,408 shares of the company’s stock after buying an additional 566 shares during the period. Pacer Advisors Inc.’s holdings in Elastic were worth $239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. FMR LLC increased its holdings in Elastic by 25.6% in the 3rd quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after acquiring an additional 1,115,750 shares during the last quarter. Atreides Management LP lifted its position in shares of Elastic by 57.2% in the third 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 in the last quarter. State Street Corp boosted its stake in Elastic by 2.3% during the third quarter. State Street Corp now owns 1,437,243 shares of the company’s stock valued at $110,323,000 after buying an additional 31,663 shares during the last quarter. Geode Capital Management LLC grew its holdings in Elastic by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,394,336 shares of the company’s stock valued at $107,058,000 after buying an additional 50,355 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Elastic by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock worth $41,901,000 after acquiring an additional 14,590 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Stock Up 3.6 %

Shares of Elastic stock opened at $115.49 on Wednesday. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The stock has a market cap of $11.97 billion, a price-to-earnings ratio of 209.98 and a beta of 1.07. The firm’s 50-day moving average is $104.92 and its two-hundred day moving average is $94.93.

Analysts Set New Price Targets

ESTC has been the subject of a number of recent research reports. Guggenheim raised their target price on shares of Elastic from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Jefferies Financial Group boosted their target price on shares of Elastic from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Wells Fargo & Company lifted their price target on Elastic from $100.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Canaccord Genuity Group upped their price objective on Elastic from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Stifel Nicolaus lifted their target price on Elastic from $98.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Seven investment 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.35.

Insider Activity

In other Elastic news, insider Carolyn Herzog sold 11,145 shares of the business’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 directly owns 92,011 shares in the company, valued at approximately $10,244,504.74. The trade was a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Shay Banon sold 150,000 shares of the firm’s stock in a transaction dated 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 owns 2,604,978 shares in the company, valued at $288,944,159.76. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,162 shares of company stock worth $18,637,562. Corporate insiders own 15.90% 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.