Elastic (NYSE:ESTC) Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB grew its stake in shares of Elastic (NYSE:ESTC) by 6.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,474 shares of the company’s stock after acquiring an additional 4,923 shares during the quarter. Nordea Investment Management AB’s holdings in Elastic were worth $8,014,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. raised its stake in Elastic by 23.4% during the second quarter. Victory Capital Management Inc. now owns 20,330 shares of the company’s stock worth $2,316,000 after purchasing an additional 3,851 shares during the period. Headlands Technologies LLC raised its position in shares of Elastic by 75.4% in the 2nd quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock worth $72,000 after buying an additional 270 shares during the period. American Century Companies Inc. boosted its holdings in Elastic by 10.0% in the second quarter. American Century Companies Inc. now owns 30,410 shares of the company’s stock valued at $3,464,000 after acquiring an additional 2,777 shares during the last quarter. NINE MASTS CAPITAL Ltd purchased a new stake in Elastic during the second quarter valued at about $228,000. Finally, DekaBank Deutsche Girozentrale increased its stake in Elastic by 7.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 19,746 shares of the company’s stock worth $2,261,000 after acquiring an additional 1,401 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Elastic Stock Performance

Shares of ESTC opened at $97.94 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The business’s fifty day moving average price is $99.86 and its 200 day moving average price is $96.44. The stock has a market capitalization of $10.15 billion, a PE ratio of 178.07 and a beta of 1.06.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wedbush cut Elastic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Canaccord Genuity Group raised their target price on shares of Elastic from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. William Blair raised shares of Elastic from a “market perform” rating to an “outperform” rating in a research report on Monday, October 14th. Jefferies Financial Group raised their price objective on Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Oppenheimer upped their target price on Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.50.

Insider Activity

In other Elastic news, CTO Shay Banon sold 150,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total value of $16,638,000.00. Following the sale, the chief technology officer now directly owns 2,604,978 shares in the company, 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 SEC, which can be accessed through this link. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the stock in a transaction dated Wednesday, December 18th. The stock was 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 directly owns 395,326 shares in the company, 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 three months, insiders sold 168,162 shares of company stock valued at $18,637,562. Company 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.