Ingalls & Snyder LLC Sells 118 Shares of Elastic (NYSE:ESTC)

Ingalls & Snyder LLC lessened its position in shares of Elastic (NYSE:ESTC) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,632 shares of the company’s stock after selling 118 shares during the period. Ingalls & Snyder LLC’s holdings in Elastic were worth $954,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ESTC. Geneos Wealth Management Inc. bought a new position in shares of Elastic in the fourth quarter worth $25,000. Eastern Bank bought a new position in Elastic in the 3rd quarter worth about $61,000. FNY Investment Advisers LLC raised its holdings in shares of Elastic by 87.3% in the 4th quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock valued at $74,000 after acquiring an additional 349 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Elastic by 21.2% in the 3rd quarter. Blue Trust Inc. now owns 2,582 shares of the company’s stock valued at $198,000 after acquiring an additional 452 shares in the last quarter. Finally, Stephens Consulting LLC bought a new stake in shares of Elastic during the 4th quarter valued at about $198,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Carolyn Herzog sold 11,145 shares of the 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 completion of the transaction, the insider now directly owns 92,011 shares in the company, valued at $10,244,504.74. This trade represents a 10.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total transaction of $758,678.04. Following the sale, the chief executive officer now directly owns 395,326 shares in the company, valued at $42,742,647.12. The trade was a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,162 shares of company stock valued at $18,637,562 over the last three months. Corporate insiders own 15.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ESTC. Canaccord Genuity Group upped their price objective on shares of Elastic from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Oppenheimer raised their price objective on shares of Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Morgan Stanley initiated coverage on shares of Elastic in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $130.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and issued a $120.00 target price on shares of Elastic in a research note on Wednesday, November 20th. Finally, Robert W. Baird raised Elastic from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $95.00 to $135.00 in a research note on Friday, November 22nd. Seven equities research 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. According to data from MarketBeat.com, Elastic currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.35.

Elastic Stock Up 0.0 %

Shares of Elastic stock opened at $117.80 on Friday. The company’s fifty day simple moving average is $105.43 and its two-hundred day simple moving average is $95.29. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The company has a market cap of $12.21 billion, a P/E ratio of 214.19 and a beta of 1.07.

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.