Exane Asset Management Grows Position in Elastic (NYSE:ESTC)

Exane Asset Management grew its position in shares of Elastic (NYSE:ESTC) by 97.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,704 shares of the company’s stock after acquiring an additional 13,704 shares during the quarter. Elastic accounts for approximately 1.6% of Exane Asset Management’s portfolio, making the stock its 14th largest holding. Exane Asset Management’s holdings in Elastic were worth $2,842,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Creative Planning increased its position in shares of Elastic by 21.5% during the second quarter. Creative Planning now owns 9,413 shares of the company’s stock valued at $1,072,000 after acquiring an additional 1,668 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Elastic by 13.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 18,800 shares of the company’s stock valued at $1,443,000 after purchasing an additional 2,200 shares during the last quarter. CWM LLC raised its stake in shares of Elastic by 2.7% during the 3rd quarter. CWM LLC now owns 26,635 shares of the company’s stock worth $2,045,000 after purchasing an additional 706 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Elastic by 51.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 27,666 shares of the company’s stock worth $2,124,000 after purchasing an additional 9,444 shares during the period. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Elastic by 241.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 14,900 shares of the company’s stock worth $1,144,000 after buying an additional 10,534 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Oppenheimer raised their price objective on shares of Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Bank of America raised their price target on shares of Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Morgan Stanley assumed coverage on Elastic in a report on Tuesday, December 17th. They set an “overweight” rating and a $130.00 price objective for the company. Citigroup boosted their target price on Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Robert W. Baird raised Elastic from a “neutral” rating to an “outperform” rating and upped their price target for the company from $95.00 to $135.00 in a research report on Friday, November 22nd. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $125.35.

Elastic Price Performance

NYSE:ESTC opened at $112.92 on Friday. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06. The stock has a fifty day moving average of $105.10 and a 200 day moving average of $95.20. 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 firm has a market capitalization of $11.70 billion, a price-to-earnings ratio of 205.31 and a beta of 1.07.

Insider Activity

In related news, CTO Shay Banon sold 150,000 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total value of $16,638,000.00. Following the transaction, the chief technology officer now owns 2,604,978 shares of the company’s stock, valued at $288,944,159.76. This represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ashutosh Kulkarni sold 7,017 shares of Elastic stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value of $758,678.04. Following the sale, the chief executive officer now directly owns 395,326 shares of the company’s stock, valued at approximately $42,742,647.12. This trade represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 168,162 shares of company stock worth $18,637,562. 15.90% of the stock is currently owned by insiders.

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.