72,789 Shares in Elastic (NYSE:ESTC) Bought by Savant Capital LLC

Savant Capital LLC purchased a new stake in shares of Elastic (NYSE:ESTC) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 72,789 shares of the company’s stock, valued at approximately $7,212,000. Savant Capital LLC owned 0.07% of Elastic at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC increased its holdings in Elastic by 2.7% during the 3rd quarter. CWM LLC now owns 26,635 shares of the company’s stock valued at $2,045,000 after purchasing an additional 706 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in 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 buying an additional 9,444 shares during the period. Vontobel Holding Ltd. raised its stake in shares of Elastic by 241.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 14,900 shares of the company’s stock valued at $1,144,000 after purchasing an additional 10,534 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Elastic by 7.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,715 shares of the company’s stock valued at $669,000 after purchasing an additional 568 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Elastic by 21.2% in the third quarter. Blue Trust Inc. now owns 2,582 shares of the company’s stock valued at $198,000 after acquiring an additional 452 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Price Performance

Shares of NYSE:ESTC opened at $116.56 on Tuesday. Elastic has a 12 month low of $69.00 and a 12 month 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 business’s 50 day simple moving average is $105.23 and its 200-day simple moving average is $94.96. The firm has a market capitalization of $12.08 billion, a price-to-earnings ratio of 211.92 and a beta of 1.07.

Wall Street Analysts Forecast Growth

ESTC has been the subject of a number of research analyst reports. Canaccord Genuity Group boosted their price objective on Elastic from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Royal Bank of Canada upped their price target on shares of Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Cantor Fitzgerald initiated coverage on shares of Elastic in a research report on Friday, January 17th. They set a “neutral” rating and a $108.00 price target on the stock. Wells Fargo & Company increased 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. Finally, Truist Financial upped their target price on shares of Elastic from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $125.35.

Insiders Place Their Bets

In other news, CTO Shay Banon sold 150,000 shares of the firm’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. This trade represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carolyn Herzog sold 11,145 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total value of $1,240,884.30. Following the sale, the insider now owns 92,011 shares of the company’s stock, valued at $10,244,504.74. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,162 shares of company stock valued at $18,637,562 in the last quarter. 15.90% of the stock is currently owned by company insiders.

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.