Van ECK Associates Corp Acquires 220 Shares of Elastic (NYSE:ESTC)

Van ECK Associates Corp raised its holdings in shares of Elastic (NYSE:ESTC) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,954 shares of the company’s stock after buying an additional 220 shares during the period. Van ECK Associates Corp’s holdings in Elastic were worth $3,265,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. FMR LLC boosted its holdings in Elastic by 25.6% during 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 period. Atreides Management LP boosted its stake in shares of Elastic by 57.2% during the third quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock valued at $129,555,000 after purchasing an additional 614,309 shares during the period. State Street Corp grew its holdings in shares of Elastic by 2.3% in the third quarter. State Street Corp now owns 1,437,243 shares of the company’s stock worth $110,323,000 after purchasing an additional 31,663 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Elastic by 3.7% in the third quarter. Geode Capital Management LLC now owns 1,394,336 shares of the company’s stock worth $107,058,000 after purchasing an additional 50,355 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Elastic by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock worth $41,901,000 after buying an additional 14,590 shares during the period. 97.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Ashutosh Kulkarni sold 7,017 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total transaction of $758,678.04. Following the completion of the sale, the chief executive officer now owns 395,326 shares of the company’s stock, valued at $42,742,647.12. This trade represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Carolyn Herzog sold 11,145 shares of the company’s stock in a transaction that occurred on 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 $10,244,504.74. This trade represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,162 shares of company stock worth $18,637,562 in the last quarter. Corporate insiders own 15.90% of the company’s stock.

Elastic Trading Down 2.8 %

Elastic stock opened at $111.69 on Thursday. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06. The company has a market capitalization of $11.57 billion, a price-to-earnings ratio of 203.07 and a beta of 1.07. The business’s fifty day simple moving average is $105.90 and its two-hundred day simple moving average is $95.36. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ESTC shares. Truist Financial raised their price target on shares of Elastic from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Morgan Stanley started coverage on Elastic in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $130.00 target price on the stock. DA Davidson upped their price target on Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Robert W. Baird upgraded Elastic from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $95.00 to $135.00 in a research report on Friday, November 22nd. Finally, Baird R W upgraded Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Seven 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $125.35.

Elastic Company Profile

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.