Elastic (NYSE:ESTC) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC grew its stake in shares of Elastic (NYSE:ESTC) by 239.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,807 shares of the company’s stock after purchasing an additional 6,915 shares during the period. Tidal Investments LLC’s holdings in Elastic were worth $753,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ESTC. FMR LLC boosted its stake in Elastic by 25.6% in the 3rd quarter. FMR LLC now owns 5,475,297 shares of the company’s stock worth $420,284,000 after purchasing an additional 1,115,750 shares during the period. 1832 Asset Management L.P. acquired a new stake in shares of Elastic in the second quarter worth $248,335,000. Atreides Management LP grew its holdings in shares of Elastic by 57.2% during the third quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock valued at $129,555,000 after buying an additional 614,309 shares in the last quarter. State Street Corp raised its position in Elastic by 2.3% during the third quarter. State Street Corp now owns 1,437,243 shares of the company’s stock valued at $110,323,000 after buying an additional 31,663 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Elastic by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,394,336 shares of the company’s stock worth $107,058,000 after acquiring an additional 50,355 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Trading Down 0.1 %

Shares of NYSE:ESTC opened at $103.63 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The stock’s 50-day moving average is $94.21 and its 200-day moving average is $97.42. The company has a market cap of $10.74 billion, a P/E ratio of 188.42 and a beta of 1.02. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06.

Wall Street Analyst Weigh In

ESTC has been the topic of several research analyst reports. Stifel Nicolaus lifted their target price on Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Royal Bank of Canada boosted their price objective on shares of Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. TD Cowen cut their target price on shares of Elastic from $110.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 30th. Bank of America boosted their price target on shares of Elastic from $94.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Piper Sandler increased their price objective on Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Six investment 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 company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $126.50.

Insider Activity at Elastic

In other news, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total transaction of $758,678.04. Following the transaction, the chief executive officer now owns 395,326 shares in the company, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Shay Banon sold 150,000 shares of the stock in a transaction dated 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 sale, the chief technology officer now owns 2,604,978 shares of the company’s stock, valued at approximately $288,944,159.76. The trade was a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,162 shares of company stock worth $18,637,562 in the last 90 days. 15.90% of the stock is owned by company 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.