2,159 Shares in Elastic (NYSE:ESTC) Purchased by Avitas Wealth Management LLC

Avitas Wealth Management LLC acquired a new position in Elastic (NYSE:ESTC) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 2,159 shares of the company’s stock, valued at approximately $214,000.

Several other hedge funds have also recently bought and sold shares of ESTC. Creative Planning lifted its stake in Elastic by 21.5% in the 2nd quarter. Creative Planning now owns 9,413 shares of the company’s stock worth $1,072,000 after acquiring an additional 1,668 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Elastic by 13.3% in the third quarter. Handelsbanken Fonder AB now owns 18,800 shares of the company’s stock valued at $1,443,000 after purchasing an additional 2,200 shares in the last quarter. CWM LLC grew its stake in Elastic by 2.7% in the third quarter. CWM LLC now owns 26,635 shares of the company’s stock valued at $2,045,000 after purchasing an additional 706 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Elastic by 51.8% in the third quarter. Exchange Traded Concepts LLC now owns 27,666 shares of the company’s stock valued at $2,124,000 after purchasing an additional 9,444 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its stake in Elastic by 241.3% in the third quarter. Vontobel Holding Ltd. now owns 14,900 shares of the company’s stock valued at $1,144,000 after purchasing an additional 10,534 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Elastic

In related news, CEO Ashutosh Kulkarni sold 7,017 shares of Elastic 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 completion of the transaction, the chief executive officer now directly owns 395,326 shares of the company’s stock, valued at $42,742,647.12. This trade represents a 1.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the insider now directly owns 92,011 shares of the company’s stock, 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. Insiders have sold a total of 168,162 shares of company stock valued at $18,637,562 over the last quarter. 15.90% of the stock is owned by company insiders.

Elastic Stock Performance

NYSE ESTC opened at $114.85 on Thursday. The stock has a market cap of $11.90 billion, a P/E ratio of 208.82 and a beta of 1.07. The company’s 50-day simple moving average is $105.01 and its 200 day simple moving average is $95.07. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.

Wall Street Analyst Weigh In

A number of research analysts have commented on ESTC shares. Piper Sandler boosted their target price on Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Morgan Stanley started coverage on Elastic in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $130.00 target price on the stock. Citigroup boosted their target price on Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Stifel Nicolaus raised their target price on Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Truist Financial raised their target price on Elastic from $105.00 to $135.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Elastic presently has an average rating of “Moderate Buy” and an average price target of $125.35.

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.