BNP Paribas Financial Markets Acquires 43,772 Shares of Elastic (NYSE:ESTC)

BNP Paribas Financial Markets grew its holdings in Elastic (NYSE:ESTC) by 190.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,786 shares of the company’s stock after purchasing an additional 43,772 shares during the period. BNP Paribas Financial Markets owned approximately 0.06% of Elastic worth $5,126,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Fifth Third Wealth Advisors LLC bought a new stake in shares of Elastic during the third quarter valued at about $1,262,000. WD Rutherford LLC bought a new stake in Elastic during the 2nd quarter worth approximately $422,000. Assenagon Asset Management S.A. bought a new position in shares of Elastic in the second quarter worth $102,169,000. Daventry Group LP raised its position in shares of Elastic by 8.6% in the second quarter. Daventry Group LP now owns 316,975 shares of the company’s stock worth $36,107,000 after buying an additional 25,008 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in Elastic during the first quarter valued at $1,823,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Elastic

In other news, insider Carolyn Herzog sold 11,145 shares of Elastic stock in a transaction dated 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 sale, the insider now owns 92,011 shares of the company’s stock, valued at approximately $10,244,504.74. The trade was a 10.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Shay Banon sold 2,666 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $187,286.50. Following the transaction, the chief technology officer now owns 4,543,190 shares in the company, valued at $319,159,097.50. This represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 198,551 shares of company stock worth $20,506,656 in the last 90 days. Company insiders own 15.90% of the company’s stock.

Elastic Price Performance

ESTC stock opened at $112.95 on Wednesday. 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 firm’s 50-day moving average price is $85.99 and its two-hundred day moving average price is $97.04. The stock has a market capitalization of $11.71 billion, a price-to-earnings ratio of 205.35 and a beta of 1.02. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06.

Wall Street Analysts Forecast Growth

ESTC has been the topic of a number of research analyst reports. Citigroup upped their target price on Elastic from $136.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. DA Davidson upped their price objective on shares of Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Jefferies Financial Group lifted their target price on shares of Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Barclays increased their price target on shares of Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, Baird R W upgraded shares of Elastic from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Elastic currently has an average rating of “Moderate Buy” and an average price target of $126.33.

Elastic 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.