Valliance Asset Management Ltd Acquires New Shares in Elastic (NYSE:ESTC)

Valliance Asset Management Ltd acquired a new stake in shares of Elastic (NYSE:ESTC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,265 shares of the company’s stock, valued at approximately $423,000. Elastic comprises about 0.8% of Valliance Asset Management Ltd’s holdings, making the stock its 14th largest holding.

Other institutional investors also recently modified their holdings of the company. FMR LLC boosted its position in Elastic by 25.6% in the third quarter. FMR LLC now owns 5,475,297 shares of the company’s stock worth $420,284,000 after purchasing an additional 1,115,750 shares during the last quarter. Atreides Management LP boosted its position in Elastic by 57.2% in the third quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock worth $129,555,000 after purchasing an additional 614,309 shares during the last quarter. State Street Corp boosted its position in Elastic by 2.3% in the third quarter. State Street Corp now owns 1,437,243 shares of the company’s stock worth $110,323,000 after purchasing an additional 31,663 shares during the last quarter. Geode Capital Management LLC boosted its position in Elastic by 3.7% in the third quarter. Geode Capital Management LLC now owns 1,394,336 shares of the company’s stock worth $107,058,000 after purchasing an additional 50,355 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Elastic by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock worth $41,901,000 after purchasing an additional 14,590 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Elastic

In related news, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total transaction of $758,678.04. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Carolyn Herzog sold 11,145 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total value of $1,240,884.30. Following the transaction, the insider now owns 92,011 shares of the company’s stock, valued at approximately $10,244,504.74. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 168,162 shares of company stock worth $18,637,562. 15.90% of the stock is currently owned by company insiders.

Elastic Price Performance

Shares of Elastic stock opened at $106.30 on Friday. The stock has a market cap of $11.02 billion, a price-to-earnings ratio of 193.27 and a beta of 1.07. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The stock has a 50 day moving average price of $105.99 and a 200-day moving average price of $95.46. Elastic has a one year low of $69.00 and a one year high of $136.06.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ESTC. Cantor Fitzgerald began coverage on Elastic in a research report on Friday, January 17th. They issued a “neutral” rating and a $108.00 target price on the stock. Stifel Nicolaus lifted their price objective on Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Truist Financial lifted their price objective on Elastic from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Wells Fargo & Company lifted their price objective on Elastic from $100.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Citigroup lifted their price objective on Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Seven equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $125.35.

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.