Public Employees Retirement System of Ohio Sells 1,472 Shares of Elastic (NYSE:ESTC)

Public Employees Retirement System of Ohio reduced its position in shares of Elastic (NYSE:ESTC) by 4.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,548 shares of the company’s stock after selling 1,472 shares during the period. Public Employees Retirement System of Ohio’s holdings in Elastic were worth $2,268,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Y Intercept Hong Kong Ltd boosted its holdings in Elastic by 12.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,985 shares of the company’s stock valued at $229,000 after acquiring an additional 332 shares in the last quarter. Orion Portfolio Solutions LLC bought a new stake in shares of Elastic during the 3rd quarter valued at about $401,000. XTX Topco Ltd purchased a new position in shares of Elastic during the third quarter valued at about $293,000. Wellington Management Group LLP increased its position in shares of Elastic by 138.5% during the third quarter. Wellington Management Group LLP now owns 9,134 shares of the company’s stock valued at $701,000 after buying an additional 5,305 shares during the period. Finally, State Street Corp lifted its holdings in Elastic by 2.3% in the third quarter. State Street Corp now owns 1,437,243 shares of the company’s stock worth $110,323,000 after buying an additional 31,663 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Elastic news, CTO Shay Banon sold 150,000 shares of the business’s 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 completion of the sale, the chief technology officer now directly owns 2,604,978 shares in the company, valued at $288,944,159.76. The trade was a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Carolyn Herzog sold 11,145 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the sale, 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 position. The disclosure for this sale can be found here. 15.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Canaccord Genuity Group increased their target price on Elastic from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Stifel Nicolaus raised their price objective 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 set a $120.00 target price on shares of Elastic in a report on Wednesday, November 20th. Guggenheim lifted their price target on shares of Elastic from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Baird R W raised shares of Elastic from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Elastic presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.50.

Elastic Price Performance

ESTC opened at $107.21 on Wednesday. The company’s 50-day simple moving average is $92.27 and its two-hundred day simple moving average is $97.30. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The stock has a market capitalization of $11.11 billion, a P/E ratio of 194.93 and a beta of 1.02. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06.

About Elastic

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.