Elastic (NYSE:ESTC) Short Interest Update

Elastic (NYSE:ESTC) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 2,480,000 shares, a growth of 7.8% from the November 30th total of 2,300,000 shares. Currently, 2.8% of the company’s shares are sold short. Based on an average daily trading volume, of 1,380,000 shares, the short-interest ratio is currently 1.8 days.

Elastic Trading Down 1.2 %

NYSE ESTC traded down $1.20 during trading hours on Wednesday, reaching $99.08. The company’s stock had a trading volume of 1,028,220 shares, compared to its average volume of 1,338,754. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The stock has a market cap of $10.27 billion, a P/E ratio of 180.15 and a beta of 1.02. The firm has a fifty day simple moving average of $97.08 and a 200-day simple moving average of $96.77.

Wall Street Analyst Weigh In

ESTC has been the topic of a number of recent analyst reports. DA Davidson boosted their target price on Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Morgan Stanley assumed coverage on shares of Elastic in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $130.00 price objective on the stock. Citigroup lifted their target price on shares of Elastic from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, November 25th. JPMorgan Chase & Co. increased their price target on shares of Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Stifel Nicolaus boosted their price objective on Elastic from $98.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Elastic has a consensus rating of “Moderate Buy” and an average target price of $126.50.

Insider Activity

In other Elastic news, 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 transaction of $1,240,884.30. Following the completion of the transaction, the insider now owns 92,011 shares in the company, valued at approximately $10,244,504.74. This represents a 10.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total value of $758,678.04. Following the completion of the sale, the chief executive officer now owns 395,326 shares in the company, valued at approximately $42,742,647.12. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,162 shares of company stock valued at $18,637,562 in the last quarter. Company insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On Elastic

Several large investors have recently modified their holdings of the business. Asset Dedication LLC raised its position in Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after purchasing an additional 280 shares during the last quarter. Quarry LP bought a new stake in Elastic in the second quarter valued at approximately $40,000. Signaturefd LLC increased its position in Elastic by 44.1% during the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after purchasing an additional 119 shares during the period. Eastern Bank bought a new position in Elastic during the 3rd quarter worth approximately $61,000. Finally, Headlands Technologies LLC lifted its position in shares of Elastic by 75.4% in the 2nd quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock worth $72,000 after purchasing an additional 270 shares during the period. Institutional investors own 97.03% 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.