Bangor Savings Bank Acquires Shares of 16,725 Elastic (NYSE:ESTC)

Bangor Savings Bank bought a new position in Elastic (NYSE:ESTC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 16,725 shares of the company’s stock, valued at approximately $1,657,000.

Several other hedge funds have also recently made changes to their positions in ESTC. Blueshift Asset Management LLC bought a new stake in Elastic in the 3rd quarter valued at about $585,000. Charles Schwab Investment Management Inc. raised its position in shares of Elastic by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock valued at $41,901,000 after purchasing an additional 14,590 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Elastic during the 3rd quarter valued at approximately $1,262,000. Vestcor Inc bought a new position in Elastic in the 3rd quarter worth approximately $1,919,000. Finally, Daventry Group LP grew its stake in Elastic by 8.6% in the 2nd quarter. Daventry Group LP now owns 316,975 shares of the company’s stock valued at $36,107,000 after buying an additional 25,008 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ESTC shares. Citigroup increased their target price on Elastic from $136.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Jefferies Financial Group raised their target price on Elastic from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Stifel Nicolaus upped their price target on Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Rosenblatt Securities restated a “buy” rating and issued a $120.00 price objective on shares of Elastic in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.50.

Elastic Stock Performance

Elastic stock opened at $101.60 on Tuesday. The firm has a fifty day simple moving average of $98.81 and a two-hundred day simple moving average of $96.49. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06. The company has a market capitalization of $10.53 billion, a PE ratio of 184.73 and a beta of 1.06.

Insider Transactions at Elastic

In related news, insider Carolyn Herzog sold 11,145 shares of Elastic stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total value 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. The trade was a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Shay Banon sold 150,000 shares of the stock in a transaction on 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 sale, the chief technology officer now directly owns 2,604,978 shares of the company’s stock, valued at $288,944,159.76. The trade was a 5.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 168,162 shares of company stock worth $18,637,562. Company 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.