2,550 Shares in Elastic (NYSE:ESTC) Purchased by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC purchased a new stake in Elastic (NYSE:ESTC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,550 shares of the company’s stock, valued at approximately $253,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC grew its holdings in Elastic by 25.6% in the third quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after purchasing an additional 1,115,750 shares during the period. Atreides Management LP boosted its holdings in shares of Elastic by 57.2% in the 3rd quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock valued at $129,555,000 after purchasing an additional 614,309 shares during the last quarter. JAT Capital Mgmt LP grew its stake in shares of Elastic by 601.4% during the 3rd quarter. JAT Capital Mgmt LP now owns 465,549 shares of the company’s stock valued at $35,736,000 after buying an additional 399,175 shares during the period. Thematics Asset Management increased its holdings in shares of Elastic by 463.3% during the 3rd quarter. Thematics Asset Management now owns 444,012 shares of the company’s stock worth $34,082,000 after buying an additional 365,192 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Elastic by 256.3% in the 3rd quarter. Franklin Resources Inc. now owns 341,524 shares of the company’s stock worth $28,387,000 after buying an additional 245,680 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insiders Place Their Bets

In other Elastic news, CTO Shay Banon sold 150,000 shares of the stock in a transaction that occurred 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 transaction, the chief technology officer now owns 2,604,978 shares of the company’s stock, valued at $288,944,159.76. This trade represents a 5.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ashutosh Kulkarni sold 7,017 shares of Elastic stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value of $758,678.04. Following the completion of the transaction, the chief executive officer now owns 395,326 shares of the company’s stock, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,162 shares of company stock valued at $18,637,562 in the last ninety days. Corporate insiders own 15.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ESTC. DA Davidson upped their price target on Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Wedbush downgraded shares of Elastic from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Morgan Stanley initiated coverage on shares of Elastic in a report on Tuesday, December 17th. They issued an “overweight” rating and a $130.00 price target on the stock. Piper Sandler boosted their price objective on shares of Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, Barclays raised their target price on shares of Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $125.35.

Elastic Stock Down 3.7 %

Shares of NYSE:ESTC opened at $113.21 on Friday. The firm has a market cap of $11.73 billion, a PE ratio of 205.83 and a beta of 1.07. The company has a fifty day simple moving average of $105.48 and a 200 day simple moving average of $95.22. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06.

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.