Elastic (NYSE:ESTC) Receives “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Elastic (NYSE:ESTC) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $130.00 price target on the stock.

A number of other research firms have also recently issued reports on ESTC. Stifel Nicolaus raised their target price on shares of Elastic from $98.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Wells Fargo & Company raised their price objective on shares of Elastic from $100.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Cantor Fitzgerald initiated coverage on Elastic in a research report on Friday, January 17th. They issued a “neutral” rating and a $108.00 target price on the stock. Wedbush lowered Elastic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group boosted their price target on Elastic from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $125.78.

Elastic Stock Down 1.8 %

ESTC opened at $102.99 on Tuesday. The stock’s fifty day simple moving average is $105.91 and its 200 day simple moving average is $95.41. Elastic has a 1-year low of $69.00 and a 1-year high of $136.06. The stock has a market cap of $10.67 billion, a PE ratio of 187.26 and a beta of 1.07. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70.

Insider Transactions at Elastic

In related news, 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 value of $758,678.04. Following the completion of the transaction, the chief executive officer now owns 395,326 shares of the company’s stock, valued at $42,742,647.12. This represents a 1.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 15.90% of the stock is owned by insiders.

Institutional Trading of Elastic

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Elastic by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company’s stock worth $926,607,000 after acquiring an additional 168,483 shares during the last quarter. FMR LLC boosted its stake in shares of Elastic by 25.6% during the third quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after purchasing an additional 1,115,750 shares in the last quarter. Sylebra Capital LLC grew its holdings in shares of Elastic by 62.6% during the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company’s stock worth $451,950,000 after purchasing an additional 1,756,842 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in shares of Elastic by 15.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company’s stock valued at $339,820,000 after buying an additional 462,974 shares during the period. Finally, Atreides Management LP increased its stake in shares of Elastic by 57.2% in the third quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock valued at $129,555,000 after buying an additional 614,309 shares during the period. Institutional investors own 97.03% of the company’s stock.

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.