National Bank of Canada FI Sells 623 Shares of Elastic (NYSE:ESTC)

National Bank of Canada FI reduced its position in shares of Elastic (NYSE:ESTC) by 52.8% during the third quarter, Holdings Channel reports. The institutional investor owned 557 shares of the company’s stock after selling 623 shares during the period. National Bank of Canada FI’s holdings in Elastic were worth $43,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. 1832 Asset Management L.P. acquired a new position in shares of Elastic during the second quarter worth approximately $248,335,000. FMR LLC increased its stake in Elastic by 25.6% during the 3rd quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after purchasing an additional 1,115,750 shares in the last quarter. Atreides Management LP raised its holdings in Elastic by 57.2% during the third quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock worth $129,555,000 after buying an additional 614,309 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Elastic by 32,630.2% in the second quarter. Federated Hermes Inc. now owns 615,655 shares of the company’s stock valued at $70,129,000 after buying an additional 613,774 shares in the last quarter. Finally, JAT Capital Mgmt LP grew its holdings in shares of Elastic by 601.4% during the third quarter. JAT Capital Mgmt LP now owns 465,549 shares of the company’s stock valued at $35,736,000 after buying an additional 399,175 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Insider Buying and Selling at Elastic

In other Elastic news, CTO Shay Banon sold 150,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the sale, the chief technology officer now owns 2,604,978 shares of the company’s stock, valued at $288,944,159.76. The trade was a 5.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Carolyn Herzog sold 11,145 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 92,011 shares of the company’s stock, valued at $10,244,504.74. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ESTC. DA Davidson upped their target price on shares of Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Jefferies Financial Group raised their target price on Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Truist Financial upped their price target on Elastic from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. UBS Group dropped their price objective on Elastic from $135.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Finally, Morgan Stanley initiated coverage on shares of Elastic in a report on Tuesday. They set an “overweight” rating and a $130.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $126.50.

Elastic Stock Up 2.5 %

Shares of NYSE ESTC opened at $107.21 on Wednesday. The business’s fifty day moving average price is $92.27 and its 200-day moving average price is $97.30. Elastic has a one year low of $69.00 and a one year high of $136.06. The stock has a market capitalization of $11.11 billion, a PE ratio of 195.00 and a beta of 1.02. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99.

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.