M&T Bank Corp Purchases 139 Shares of Elastic (NYSE:ESTC)

M&T Bank Corp raised its position in Elastic (NYSE:ESTC) by 3.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,652 shares of the company’s stock after purchasing an additional 139 shares during the period. M&T Bank Corp’s holdings in Elastic were worth $357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in ESTC. Wealth Enhancement Advisory Services LLC bought a new position in shares of Elastic during the second quarter worth approximately $277,000. Avitas Wealth Management LLC bought a new position in Elastic during the 2nd quarter worth $212,000. WD Rutherford LLC bought a new position in Elastic during the 2nd quarter worth $422,000. Bank of New York Mellon Corp raised its holdings in Elastic by 12.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 447,957 shares of the company’s stock valued at $51,027,000 after acquiring an additional 48,785 shares in the last quarter. Finally, AlphaCentric Advisors LLC bought a new stake in shares of Elastic during the 2nd quarter valued at $40,000. Institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $120.00 price target on shares of Elastic in a research note on Wednesday, November 20th. JPMorgan Chase & Co. boosted their target price on shares of Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Scotiabank upped their price target on shares of Elastic from $92.00 to $135.00 and gave the stock a “sector outperform” rating in a report on Friday, November 22nd. UBS Group decreased their price objective on shares of Elastic from $135.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Finally, Morgan Stanley assumed coverage on Elastic in a research note on Tuesday. They set an “overweight” rating and a $130.00 target price for the company. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $126.50.

Elastic Price Performance

ESTC stock opened at $103.91 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06. The company has a market capitalization of $10.77 billion, a P/E ratio of 188.93 and a beta of 1.02. The company has a fifty day moving average price of $92.89 and a 200-day moving average price of $97.32.

Insider Buying and Selling

In other Elastic news, CTO Shay Banon sold 150,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief technology officer now owns 2,604,978 shares in the company, valued at approximately $288,944,159.76. This trade represents a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carolyn Herzog sold 11,145 shares of the company’s 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 completion of the sale, the insider now directly owns 92,011 shares in the company, valued at approximately $10,244,504.74. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.90% of the stock is owned by corporate insiders.

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.