Orion Portfolio Solutions LLC Makes New $401,000 Investment in Elastic (NYSE:ESTC)

Orion Portfolio Solutions LLC acquired a new stake in shares of Elastic (NYSE:ESTC) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 5,218 shares of the company’s stock, valued at approximately $401,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ESTC. Asset Dedication LLC boosted its stake in Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after purchasing an additional 280 shares during the last quarter. AlphaCentric Advisors LLC purchased a new position in shares of Elastic during the second quarter valued at approximately $40,000. Quarry LP bought a new stake in Elastic during the second quarter worth $40,000. Signaturefd LLC raised its position in Elastic by 44.1% in the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after buying an additional 119 shares during the last quarter. Finally, Headlands Technologies LLC lifted its stake in Elastic by 75.4% during the 2nd quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock valued at $72,000 after acquiring an additional 270 shares in the last quarter. 97.03% of the stock is owned by institutional investors.

Insider Activity

In related news, CTO Shay Banon sold 150,000 shares of Elastic stock in a transaction 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 completion of the sale, the chief technology officer now owns 2,604,978 shares of the company’s stock, valued at approximately $288,944,159.76. This trade represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Carolyn Herzog sold 11,145 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was 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 owns 92,011 shares in the company, valued at $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. Company insiders own 15.90% of the company’s stock.

Elastic Stock Performance

NYSE:ESTC opened at $103.91 on Thursday. The business’s fifty day moving average is $92.89 and its 200 day moving average is $97.32. The firm has a market cap of $10.77 billion, a price-to-earnings ratio of 188.93 and a beta of 1.02. 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.

Analysts Set New Price Targets

ESTC has been the subject of several analyst reports. DA Davidson increased their target price on shares of Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Truist Financial lifted their target price on shares of Elastic from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Piper Sandler upped their target price on Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Baird R W upgraded Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, TD Cowen cut their price objective on Elastic from $110.00 to $80.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. 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 company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $126.50.

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.