Elastic (NYSE:ESTC) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in Elastic (NYSE:ESTC) by 31.7% in the 4th quarter, Holdings Channel reports. The firm owned 255,012 shares of the company’s stock after selling 118,436 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Elastic were worth $25,267,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ESTC. Quarry LP purchased a new stake in shares of Elastic during the second quarter worth $40,000. FNY Investment Advisers LLC grew its stake in Elastic by 87.3% during 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. Eastern Bank acquired a new stake in Elastic in the 3rd quarter valued at about $61,000. Blue Trust Inc. lifted its stake in Elastic by 21.2% in the 3rd quarter. Blue Trust Inc. now owns 2,582 shares of the company’s stock worth $198,000 after purchasing an additional 452 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new position in shares of Elastic during the 3rd quarter worth approximately $211,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

ESTC has been the topic of a number of analyst reports. Bank of America lifted their price objective on Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Citigroup lifted their target price on shares of Elastic from $136.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. increased their price target on shares of Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Piper Sandler lifted their price target on shares of Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Wells Fargo & Company increased their price objective on Elastic from $100.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $126.50.

Insider Activity

In other Elastic news, 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value of $758,678.04. Following the transaction, the chief executive officer now directly owns 395,326 shares of the company’s stock, valued at approximately $42,742,647.12. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,162 shares of company stock worth $18,637,562. 15.90% of the stock is currently owned by company insiders.

Elastic Trading Up 0.7 %

ESTC opened at $99.87 on Friday. The business has a fifty day moving average price of $101.38 and a 200 day moving average price of $95.98. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06. The stock has a market capitalization of $10.35 billion, a price-to-earnings ratio of 181.58 and a beta of 1.06.

Elastic 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.