State Street Corp Has $110.32 Million Stock Position in Elastic (NYSE:ESTC)

State Street Corp grew its stake in shares of Elastic (NYSE:ESTC) by 2.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,437,243 shares of the company’s stock after purchasing an additional 31,663 shares during the quarter. State Street Corp’s holdings in Elastic were worth $110,323,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Stifel Financial Corp lifted its holdings in shares of Elastic by 10.7% during the third quarter. Stifel Financial Corp now owns 19,564 shares of the company’s stock worth $1,502,000 after buying an additional 1,898 shares in the last quarter. Quantinno Capital Management LP increased its position in Elastic by 25.7% during the third quarter. Quantinno Capital Management LP now owns 15,066 shares of the company’s stock worth $1,156,000 after acquiring an additional 3,082 shares during the period. Readystate Asset Management LP raised its stake in Elastic by 1,133.7% in the 3rd quarter. Readystate Asset Management LP now owns 43,180 shares of the company’s stock worth $3,314,000 after purchasing an additional 39,680 shares in the last quarter. Potrero Capital Research LLC bought a new stake in Elastic in the 3rd quarter valued at about $7,292,000. Finally, Ingalls & Snyder LLC grew its position in shares of Elastic by 162.9% during the 3rd quarter. Ingalls & Snyder LLC now owns 9,750 shares of the company’s stock worth $748,000 after purchasing an additional 6,041 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ESTC. UBS Group dropped their price target on shares of Elastic from $135.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Stifel Nicolaus upped their target price on Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. DA Davidson raised their price target on Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Jefferies Financial Group boosted their price target on Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada raised their target price on shares of Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Five investment 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $126.33.

Elastic Stock Performance

Shares of ESTC stock opened at $104.05 on Monday. The firm has a market capitalization of $10.78 billion, a price-to-earnings ratio of 189.18 and a beta of 1.02. 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 business’s 50-day moving average price is $91.72 and its 200-day moving average price is $97.22. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06.

Insider Activity at Elastic

In other Elastic news, insider Carolyn Herzog sold 11,145 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was 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 in the company, valued at approximately $10,244,504.74. The trade was a 10.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $16,638,000.00. Following the transaction, the chief technology officer now owns 2,604,978 shares of the company’s stock, valued at $288,944,159.76. This trade represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.90% of the stock is owned by company insiders.

Elastic Company Profile

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.