Elastic N.V. $ESTC Position Increased by Bangor Savings Bank

Bangor Savings Bank increased its stake in Elastic N.V. (NYSE:ESTC) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,739 shares of the company’s stock after purchasing an additional 205 shares during the period. Bangor Savings Bank’s holdings in Elastic were worth $1,412,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new stake in shares of Elastic in the 4th quarter worth approximately $26,000. Cloud Capital Management LLC bought a new stake in shares of Elastic in the 1st quarter worth approximately $25,000. Signaturefd LLC lifted its holdings in shares of Elastic by 53.7% in the 1st quarter. Signaturefd LLC now owns 335 shares of the company’s stock worth $30,000 after purchasing an additional 117 shares during the last quarter. North Capital Inc. bought a new stake in shares of Elastic in the 1st quarter worth approximately $37,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Elastic by 53.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock worth $40,000 after purchasing an additional 152 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Elastic Stock Down 1.6%

Shares of ESTC stock opened at $87.61 on Friday. Elastic N.V. has a 1 year low of $70.14 and a 1 year high of $118.84. The stock has a market cap of $9.31 billion, a PE ratio of -109.51 and a beta of 1.04. The business’s fifty day moving average is $83.49 and its 200-day moving average is $86.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.09 and a current ratio of 2.09.

Insider Buying and Selling at Elastic

In related news, CAO Jane E. Bone sold 629 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $56,685.48. Following the completion of the transaction, the chief accounting officer owned 38,786 shares in the company, valued at $3,495,394.32. This trade represents a 1.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Carolyn Herzog sold 5,143 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $463,487.16. Following the completion of the transaction, the insider owned 94,677 shares of the company’s stock, valued at $8,532,291.24. This trade represents a 5.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 347,036 shares of company stock valued at $30,640,286 over the last 90 days. 12.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ESTC. Jefferies Financial Group raised their price target on Elastic from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Guggenheim raised their target price on Elastic from $107.00 to $122.00 and gave the company a “buy” rating in a research report on Friday, August 29th. UBS Group raised their target price on Elastic from $95.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Monness Crespi & Hardt lifted their price target on Elastic from $111.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Finally, Morgan Stanley lifted their price target on Elastic from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

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.