Elastic (NYSE:ESTC) is Neumann Advisory Hong Kong Ltd’s 6th Largest Position

Neumann Advisory Hong Kong Ltd reduced its holdings in Elastic (NYSE:ESTC) by 57.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,730 shares of the company’s stock after selling 90,622 shares during the period. Elastic makes up 1.9% of Neumann Advisory Hong Kong Ltd’s holdings, making the stock its 6th biggest position. Neumann Advisory Hong Kong Ltd owned 0.06% of Elastic worth $6,612,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ESTC. Geneos Wealth Management Inc. acquired a new stake in Elastic in the 4th quarter valued at about $25,000. Quarry LP acquired a new stake in shares of Elastic in the second quarter valued at approximately $40,000. Eastern Bank purchased a new position in Elastic during the third quarter worth approximately $61,000. FNY Investment Advisers LLC boosted its stake in Elastic by 87.3% during the fourth quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock worth $74,000 after buying an additional 349 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Elastic by 21.2% in the 3rd quarter. Blue Trust Inc. now owns 2,582 shares of the company’s stock valued at $198,000 after buying an additional 452 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Trading Up 0.3 %

NYSE ESTC opened at $104.39 on Monday. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06. The firm has a 50 day moving average of $102.96 and a two-hundred day moving average of $95.15. The stock has a market capitalization of $10.82 billion, a PE ratio of 189.81 and a beta of 1.06. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.

Analysts Set New Price Targets

Several research analysts have recently commented on ESTC shares. Piper Sandler lifted their price target on Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Cantor Fitzgerald assumed coverage on shares of Elastic in a report on Friday, January 17th. They issued a “neutral” rating and a $108.00 target price on the stock. Wells Fargo & Company raised their price target on shares of Elastic from $100.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. DA Davidson upped their price objective on Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Elastic in a research note on Friday, November 22nd. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Elastic currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.35.

Insider Buying and Selling

In related news, insider Carolyn Herzog sold 11,145 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total value of $1,240,884.30. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the stock in a transaction that occurred on 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 owns 395,326 shares in the company, valued at $42,742,647.12. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,162 shares of company stock worth $18,637,562. Corporate insiders own 15.90% of the company’s stock.

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.