Sei Investments Co. reduced its position in shares of Elastic (NYSE:ESTC – Get Rating) by 6.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 443,631 shares of the company’s stock after selling 29,053 shares during the period. Sei Investments Co. owned 0.47% of Elastic worth $39,461,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Elastic by 2.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 19,223 shares of the company’s stock worth $2,366,000 after purchasing an additional 451 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Elastic by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 125,385 shares of the company’s stock worth $15,434,000 after purchasing an additional 4,298 shares during the last quarter. AlphaCrest Capital Management LLC boosted its holdings in shares of Elastic by 23.2% during the 4th quarter. AlphaCrest Capital Management LLC now owns 6,647 shares of the company’s stock worth $818,000 after purchasing an additional 1,252 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Elastic by 98.7% during the 4th quarter. BNP Paribas Arbitrage SA now owns 13,515 shares of the company’s stock worth $1,664,000 after purchasing an additional 6,712 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Elastic by 10.9% during the 4th quarter. Principal Financial Group Inc. now owns 7,956 shares of the company’s stock worth $979,000 after purchasing an additional 781 shares during the last quarter. 74.31% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
ESTC has been the topic of a number of recent analyst reports. Royal Bank of Canada decreased their price objective on Elastic from $133.00 to $110.00 in a report on Tuesday, May 31st. Stifel Nicolaus decreased their price objective on Elastic from $125.00 to $100.00 in a report on Thursday, June 2nd. Citigroup boosted their target price on Elastic from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, August 22nd. Piper Sandler boosted their target price on Elastic from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, August 26th. Finally, Canaccord Genuity Group initiated coverage on Elastic in a research report on Thursday, July 7th. They issued a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $123.85.
Elastic Stock Up 1.5 %
Elastic stock opened at $84.87 on Friday. The firm has a market capitalization of $8.06 billion, a P/E ratio of -33.15 and a beta of 1.13. The stock’s fifty day simple moving average is $79.97 and its 200-day simple moving average is $77.43. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 1.44. Elastic has a twelve month low of $50.74 and a twelve month high of $189.84.
Insider Activity at Elastic
In related news, Director Jonathan Chadwick sold 6,250 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $72.88, for a total value of $455,500.00. Following the transaction, the director now owns 5,102 shares of the company’s stock, valued at $371,833.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 18.80% of the stock is currently owned by corporate insiders.
Elastic N.V., a search company, delivers technology 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 perform search, analysis, and visualization.
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