Calamos Advisors LLC Boosts Stake in Elastic (NYSE:ESTC)

Calamos Advisors LLC lifted its position in shares of Elastic (NYSE:ESTC) by 52.1% during the 4th quarter, HoldingsChannel reports. The fund owned 10,645 shares of the company’s stock after purchasing an additional 3,645 shares during the period. Calamos Advisors LLC’s holdings in Elastic were worth $1,055,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ESTC. Baader Bank Aktiengesellschaft lifted its holdings in Elastic by 29.4% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 22,000 shares of the company’s stock valued at $2,180,000 after purchasing an additional 5,000 shares in the last quarter. Swedbank AB purchased a new position in Elastic in the 4th quarter valued at about $2,973,000. Smith Group Asset Management LLC purchased a new position in shares of Elastic in the fourth quarter valued at approximately $3,408,000. Moody Aldrich Partners LLC purchased a new position in shares of Elastic in the fourth quarter valued at approximately $255,000. Finally, Wealth Effects LLC lifted its position in shares of Elastic by 25.4% in the fourth quarter. Wealth Effects LLC now owns 28,800 shares of the company’s stock valued at $2,854,000 after acquiring an additional 5,830 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Elastic Stock Down 0.5 %

Shares of NYSE:ESTC opened at $114.85 on Thursday. The firm has a market capitalization of $11.90 billion, a PE ratio of 208.82 and a beta of 1.07. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The firm’s 50-day moving average is $105.01 and its two-hundred day moving average is $95.07.

Insider Buying and Selling

In related news, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 395,326 shares of the company’s stock, valued at $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 is available through this hyperlink. Also, CTO Shay Banon sold 150,000 shares of the company’s stock in a transaction dated 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 owns 2,604,978 shares in the company, valued at approximately $288,944,159.76. This trade represents a 5.44 % decrease in their position. 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 in the last ninety days. Company insiders own 15.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ESTC. Guggenheim lifted their target price on shares of Elastic from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Barclays upped their price objective 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. Needham & Company LLC reissued a “hold” rating on shares of Elastic in a research note on Friday, November 22nd. Robert W. Baird upgraded Elastic from a “neutral” rating to an “outperform” rating and upped their price target for the company from $95.00 to $135.00 in a research report on Friday, November 22nd. Finally, Scotiabank reduced their price objective on Elastic from $135.00 to $127.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, January 21st. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $125.35.

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.