Vestcor Inc Takes $1.92 Million Position in Elastic (NYSE:ESTC)

Vestcor Inc bought a new stake in shares of Elastic (NYSE:ESTC) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 25,000 shares of the company’s stock, valued at approximately $1,919,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. M&T Bank Corp grew its position in Elastic by 3.1% in the third quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock valued at $357,000 after acquiring an additional 139 shares during the period. Barclays PLC boosted its stake in shares of Elastic by 56.2% in the 3rd quarter. Barclays PLC now owns 153,155 shares of the company’s stock valued at $11,757,000 after purchasing an additional 55,084 shares in the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of Elastic by 12.5% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,985 shares of the company’s stock worth $229,000 after purchasing an additional 332 shares during the last quarter. Orion Portfolio Solutions LLC acquired a new stake in shares of Elastic during the 3rd quarter worth about $401,000. Finally, XTX Topco Ltd acquired a new stake in shares of Elastic during the 3rd quarter worth about $293,000. Institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on ESTC shares. The Goldman Sachs Group upped their price objective on shares of Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. UBS Group dropped their price target on Elastic from $135.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 30th. Wells Fargo & Company lifted their price objective on Elastic from $100.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Stifel Nicolaus increased their target price on Elastic from $98.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Piper Sandler lifted their price target on Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $126.33.

Elastic Price Performance

Elastic stock opened at $107.00 on Thursday. The firm has a market capitalization of $11.09 billion, a P/E ratio of 194.55 and a beta of 1.02. The business has a 50-day moving average of $90.60 and a 200-day moving average of $97.21. 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 1 year low of $69.00 and a 1 year high of $136.06.

Insider Activity at Elastic

In other Elastic news, CTO Shay Banon sold 150,000 shares of Elastic stock in a transaction dated 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 directly owns 2,604,978 shares in the company, valued at approximately $288,944,159.76. The trade was a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Carolyn Herzog sold 11,145 shares of the stock in a transaction dated 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 sale, the insider now owns 92,011 shares of the company’s stock, valued at $10,244,504.74. This trade represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.