Blue Trust Inc. Sells 723 Shares of Elastic (NYSE:ESTC)

Blue Trust Inc. cut its holdings in shares of Elastic (NYSE:ESTC) by 28.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,859 shares of the company’s stock after selling 723 shares during the quarter. Blue Trust Inc.’s holdings in Elastic were worth $184,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. bought a new stake in shares of Elastic during the 4th quarter valued at $25,000. Eastern Bank acquired a new stake in shares of Elastic in the third quarter valued at about $61,000. FNY Investment Advisers LLC increased its stake in shares of Elastic by 87.3% in the fourth 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 period. Stephens Consulting LLC acquired a new stake in Elastic during the fourth quarter worth approximately $198,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Elastic during the fourth quarter worth approximately $202,000. 97.03% of the stock is currently owned by institutional investors.

Elastic Trading Down 1.7 %

NYSE ESTC opened at $109.59 on Friday. Elastic has a 1-year low of $69.00 and a 1-year high of $136.06. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The stock has a 50-day moving average of $105.95 and a 200-day moving average of $95.46. The firm has a market cap of $11.36 billion, a PE ratio of 199.25 and a beta of 1.07.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ESTC shares. Robert W. Baird upgraded Elastic from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $95.00 to $135.00 in a report on Friday, November 22nd. Cantor Fitzgerald initiated coverage on Elastic in a report on Friday, January 17th. They issued a “neutral” rating and a $108.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a report on Friday, November 22nd. DA Davidson raised their target price on Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Wells Fargo & Company lifted their price target on Elastic from $100.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Elastic has a consensus rating of “Moderate Buy” and a consensus price target of $125.35.

Insider Activity

In other Elastic news, CTO Shay Banon sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the transaction, the chief technology officer now owns 2,604,978 shares in the company, valued at approximately $288,944,159.76. This represents a 5.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $758,678.04. Following the transaction, the chief executive officer now directly owns 395,326 shares of the company’s stock, valued at approximately $42,742,647.12. This trade represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,162 shares of company stock valued at $18,637,562. 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.