Baader Bank Aktiengesellschaft Purchases 5,000 Shares of Elastic (NYSE:ESTC)

Baader Bank Aktiengesellschaft raised its position in shares of Elastic (NYSE:ESTC) by 29.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,000 shares of the company’s stock after buying an additional 5,000 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Elastic were worth $2,180,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. M&T Bank Corp increased its position in Elastic by 3.1% during the 3rd quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock valued at $357,000 after purchasing an additional 139 shares during the period. QRG Capital Management Inc. increased its position in shares of Elastic by 7.0% during the third quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock valued at $235,000 after buying an additional 201 shares during the period. Oppenheimer & Co. Inc. raised its stake in Elastic by 3.3% in the third quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company’s stock worth $523,000 after buying an additional 219 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in Elastic in the fourth quarter worth about $25,000. Finally, Y Intercept Hong Kong Ltd lifted its holdings in Elastic by 12.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,985 shares of the company’s stock worth $229,000 after buying an additional 332 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analysts Set New Price Targets

ESTC has been the subject of a number of research analyst reports. Robert W. Baird upgraded Elastic from a “neutral” rating to an “outperform” rating and raised their target price for the company from $95.00 to $135.00 in a research note on Friday, November 22nd. Truist Financial lifted their price target on shares of Elastic from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Citigroup upped their price target 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. Stifel Nicolaus lifted their target price on Elastic from $98.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Morgan Stanley began coverage on shares of Elastic in a research report on Tuesday, December 17th. They set an “overweight” rating and a $130.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Elastic has an average rating of “Moderate Buy” and a consensus price target of $125.35.

Insider Activity

In related news, CTO Shay Banon sold 150,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the transaction, the chief technology officer now directly owns 2,604,978 shares in the company, valued at $288,944,159.76. This trade represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total value of $758,678.04. Following the completion of the sale, the chief executive officer now owns 395,326 shares in the company, valued at $42,742,647.12. The trade was a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,162 shares of company stock worth $18,637,562 over the last ninety days. Corporate insiders own 15.90% of the company’s stock.

Elastic Stock Performance

NYSE:ESTC opened at $113.25 on Thursday. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The firm’s 50 day moving average is $104.41 and its two-hundred day moving average is $95.14. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The company has a market cap of $11.74 billion, a P/E ratio of 205.91 and a beta of 1.06.

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.