TimesSquare Capital Management LLC Has $46.47 Million Stock Position in Elastic (NYSE:ESTC)

TimesSquare Capital Management LLC decreased its stake in Elastic (NYSE:ESTC) by 5.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 468,975 shares of the company’s stock after selling 26,140 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Elastic were worth $46,466,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Slow Capital Inc. acquired a new position in shares of Elastic in the 4th quarter valued at $5,039,000. Wealth Effects LLC boosted its position in shares of Elastic by 25.4% in the 4th quarter. Wealth Effects LLC now owns 28,800 shares of the company’s stock valued at $2,854,000 after purchasing an additional 5,830 shares during the period. Blueshift Asset Management LLC acquired a new stake in Elastic during the 3rd quarter worth about $585,000. Charles Schwab Investment Management Inc. boosted its position in Elastic by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock worth $41,901,000 after acquiring an additional 14,590 shares during the period. Finally, Bangor Savings Bank acquired a new stake in Elastic during the 4th quarter worth about $1,657,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Stock Up 1.6 %

Shares of ESTC stock opened at $114.92 on Wednesday. The stock’s 50 day simple moving average is $105.81 and its 200 day simple moving average is $95.25. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06. The company has a market capitalization of $11.91 billion, a price-to-earnings ratio of 208.95 and a beta of 1.07.

Analysts Set New Price Targets

A number of brokerages have commented on ESTC. Scotiabank decreased their price objective on Elastic from $135.00 to $127.00 and set a “sector outperform” rating for the company in a research report on Tuesday, January 21st. Guggenheim raised their price objective on Elastic from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Royal Bank of Canada raised their price objective on Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Bank of America raised their price objective on Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley started coverage on Elastic in a report on Tuesday, December 17th. They set an “overweight” rating and a $130.00 price target for the company. Seven equities research 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 company’s stock. Based on data from MarketBeat.com, Elastic has a consensus rating of “Moderate Buy” and an average target price of $125.35.

Insider Activity at Elastic

In other Elastic news, 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 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Shay Banon sold 150,000 shares of Elastic stock in a transaction that occurred 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 completion of the transaction, the chief technology officer now directly owns 2,604,978 shares in the company, valued at approximately $288,944,159.76. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,162 shares of company stock valued at $18,637,562. Corporate insiders own 15.90% of the company’s stock.

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.